Nordea Investment Management AB Buys 5,782 Shares of LyondellBasell Industries (NYSE:LYB)

Posted by Defense World Staff on May 13th, 2023

Nordea Investment Management AB grew its stake in LyondellBasell Industries (NYSE:LYB – Get Rating) by 49.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,501 shares of the specialty chemicals company’s stock after purchasing an additional 5,782 shares during the quarter. Nordea Investment Management AB’s holdings in LyondellBasell Industries were worth $1,445,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. CI Investments Inc. increased its position in LyondellBasell Industries by 1,006.5% during the third quarter. CI Investments Inc. now owns 343 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 312 shares during the period. Kistler Tiffany Companies LLC bought a new position in LyondellBasell Industries during the fourth quarter worth about $31,000. US Asset Management LLC bought a new position in LyondellBasell Industries during the fourth quarter worth about $33,000. Ten Capital Wealth Advisors LLC bought a new position in LyondellBasell Industries during the third quarter worth about $32,000. Finally, Covestor Ltd increased its position in LyondellBasell Industries by 33.9% during the first quarter. Covestor Ltd now owns 446 shares of the specialty chemicals company’s stock worth $46,000 after acquiring an additional 113 shares during the period. 91.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Royal Bank of Canada lowered their price target on shares of LyondellBasell Industries from $130.00 to $121.00 in a research report on Wednesday, May 3rd. Barclays raised their target price on shares of LyondellBasell Industries from $98.00 to $100.00 in a report on Monday, May 1st. Mizuho raised their target price on shares of LyondellBasell Industries from $89.00 to $91.00 and gave the company a “neutral” rating in a report on Monday, February 6th. StockNews.com started coverage on shares of LyondellBasell Industries in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Finally, Scotiabank reissued a “sector perform” rating on shares of LyondellBasell Industries in a report on Friday, April 28th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $99.37.

LyondellBasell Industries Stock Up 0.6 %

Shares of NYSE LYB opened at $89.26 on Friday. The company has a market capitalization of $29.03 billion, a P/E ratio of 9.66, a price-to-earnings-growth ratio of 1.19 and a beta of 1.21. LyondellBasell Industries has a 52-week low of $71.46 and a 52-week high of $117.22. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.05 and a current ratio of 1.85. The company’s 50 day moving average price is $91.70 and its 200-day moving average price is $89.63.

LyondellBasell Industries (NYSE:LYB – Get Rating) last issued its quarterly earnings results on Friday, April 28th. The specialty chemicals company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.70. The firm had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.80 billion. LyondellBasell Industries had a net margin of 6.40% and a return on equity of 28.95%. The company’s revenue for the quarter was down 22.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.00 EPS. Equities analysts forecast that LyondellBasell Industries will post 9.64 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 13th. Stockholders of record on Monday, March 6th were given a $1.19 dividend. The ex-dividend date of this dividend was Friday, March 3rd. This represents a $4.76 dividend on an annualized basis and a dividend yield of 5.33%. LyondellBasell Industries’s dividend payout ratio (DPR) is currently 51.52%.

About LyondellBasell Industries

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LyondellBasell Industries NV engages in the refinery and production of plastic resins and other chemicals. It operates through the following segments: Olefins and Polyolefins-Americas; Olefins and Polyolefins-Europe, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.