Aviva PLC Lowers Position in LyondellBasell Industries (NYSE:LYB)

Posted by Defense World Staff on May 30th, 2023

Aviva PLC cut its holdings in LyondellBasell Industries (NYSE:LYB – Get Rating) by 23.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,714 shares of the specialty chemicals company’s stock after selling 11,693 shares during the period. Aviva PLC’s holdings in LyondellBasell Industries were worth $2,058,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of LYB. Blair William & Co. IL lifted its holdings in LyondellBasell Industries by 1.0% during the first quarter. Blair William & Co. IL now owns 10,812 shares of the specialty chemicals company’s stock valued at $1,112,000 after purchasing an additional 107 shares during the last quarter. Coastal Investment Advisors Inc. raised its holdings in LyondellBasell Industries by 2.1% during the 4th quarter. Coastal Investment Advisors Inc. now owns 5,179 shares of the specialty chemicals company’s stock valued at $430,000 after buying an additional 109 shares during the last quarter. Covestor Ltd raised its holdings in shares of LyondellBasell Industries by 33.9% during the first quarter. Covestor Ltd now owns 446 shares of the specialty chemicals company’s stock valued at $46,000 after acquiring an additional 113 shares in the last quarter. Securian Asset Management Inc. lifted its position in shares of LyondellBasell Industries by 0.6% in the 4th quarter. Securian Asset Management Inc. now owns 20,833 shares of the specialty chemicals company’s stock worth $1,730,000 after purchasing an additional 117 shares during the period. Finally, Naples Global Advisors LLC grew its holdings in shares of LyondellBasell Industries by 1.5% during the 4th quarter. Naples Global Advisors LLC now owns 8,336 shares of the specialty chemicals company’s stock worth $692,000 after acquiring an additional 120 shares during the period. Institutional investors own 91.12% of the company’s stock.

LyondellBasell Industries Trading Down 1.6 %

Shares of NYSE:LYB opened at $87.31 on Tuesday. The company has a 50-day simple moving average of $91.80 and a 200 day simple moving average of $90.41. The company has a market capitalization of $28.40 billion, a P/E ratio of 9.45, a price-to-earnings-growth ratio of 1.12 and a beta of 1.21. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.05 and a current ratio of 1.85. LyondellBasell Industries has a 52-week low of $71.46 and a 52-week high of $117.22.

LyondellBasell Industries (NYSE:LYB – Get Rating) last issued its quarterly earnings data on Friday, April 28th. The specialty chemicals company reported $2.50 EPS for the quarter, beating the consensus estimate of $1.80 by $0.70. LyondellBasell Industries had a net margin of 6.40% and a return on equity of 28.95%. The business had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.80 billion. During the same quarter in the prior year, the firm earned $4.00 EPS. The firm’s revenue was down 22.1% compared to the same quarter last year. Sell-side analysts forecast that LyondellBasell Industries will post 9.72 earnings per share for the current year.

LyondellBasell Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 6th. Investors of record on Tuesday, May 30th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 5.73%. This is an increase from LyondellBasell Industries’s previous quarterly dividend of $1.19. The ex-dividend date is Friday, May 26th. LyondellBasell Industries’s dividend payout ratio is presently 54.11%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Mizuho raised their price target on LyondellBasell Industries from $89.00 to $91.00 and gave the company a “neutral” rating in a report on Monday, February 6th. Jefferies Financial Group cut shares of LyondellBasell Industries from a “buy” rating to a “hold” rating and decreased their price target for the stock from $113.00 to $90.00 in a research note on Thursday, April 13th. KeyCorp boosted their price target on shares of LyondellBasell Industries from $74.00 to $84.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 11th. Wells Fargo & Company raised their price target on LyondellBasell Industries from $97.00 to $109.00 and gave the stock an “overweight” rating in a research report on Monday, February 6th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of LyondellBasell Industries in a research note on Friday, April 28th. Three equities 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $99.37.

LyondellBasell Industries Profile

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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.