LyondellBasell Industries (NYSE:LYB) Shares Purchased by abrdn plc

Posted by Defense World Staff on Jul 23rd, 2023

abrdn plc raised its holdings in shares of LyondellBasell Industries (NYSE:LYB – Free Report) by 0.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 92,284 shares of the specialty chemicals company’s stock after acquiring an additional 846 shares during the quarter. abrdn plc’s holdings in LyondellBasell Industries were worth $8,665,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Creative Financial Designs Inc. ADV increased its holdings in shares of LyondellBasell Industries by 162.6% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 533 shares of the specialty chemicals company’s stock valued at $50,000 after acquiring an additional 330 shares during the last quarter. Valeo Financial Advisors LLC boosted its position in shares of LyondellBasell Industries by 23.0% in the 4th quarter. Valeo Financial Advisors LLC now owns 4,439 shares of the specialty chemicals company’s stock valued at $369,000 after purchasing an additional 831 shares during the period. Cognios Beta Neutral Large Cap Fund LP acquired a new stake in shares of LyondellBasell Industries in the 4th quarter valued at about $529,000. Torray Investment Partners LLC boosted its position in shares of LyondellBasell Industries by 2.2% in the 4th quarter. Torray Investment Partners LLC now owns 31,434 shares of the specialty chemicals company’s stock valued at $2,610,000 after purchasing an additional 675 shares during the period. Finally, Cibc World Markets Corp boosted its position in shares of LyondellBasell Industries by 673.4% in the 4th quarter. Cibc World Markets Corp now owns 29,860 shares of the specialty chemicals company’s stock valued at $2,479,000 after purchasing an additional 25,999 shares during the period. Hedge funds and other institutional investors own 70.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on LYB shares. Citigroup started coverage on LyondellBasell Industries in a research report on Tuesday, June 13th. They issued a “neutral” rating and a $89.00 target price for the company. Wells Fargo & Company decreased their target price on LyondellBasell Industries from $109.00 to $100.00 in a research report on Thursday, June 29th. KeyCorp decreased their target price on LyondellBasell Industries from $81.00 to $80.00 in a research report on Tuesday, July 11th. Jefferies Financial Group cut LyondellBasell Industries from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $113.00 to $90.00 in a research report on Thursday, April 13th. Finally, Barclays decreased their price objective on LyondellBasell Industries from $100.00 to $95.00 in a research report on Tuesday, July 11th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, LyondellBasell Industries presently has an average rating of “Hold” and an average price target of $97.00.

LyondellBasell Industries Stock Performance

NYSE LYB opened at $91.77 on Friday. LyondellBasell Industries has a 1-year low of $71.46 and a 1-year high of $101.30. The company has a market capitalization of $29.85 billion, a P/E ratio of 9.93, a PEG ratio of 1.30 and a beta of 1.21. The business has a 50 day moving average price of $90.15 and a 200 day moving average price of $92.20. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.85 and a quick ratio of 1.05.

LyondellBasell Industries (NYSE:LYB – Get Free Report) last released its quarterly earnings data on Friday, April 28th. The specialty chemicals company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.70. LyondellBasell Industries had a return on equity of 28.95% and a net margin of 6.40%. The firm had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.80 billion. During the same period last year, the business posted $4.00 EPS. LyondellBasell Industries’s quarterly revenue was down 22.1% on a year-over-year basis. Sell-side analysts expect that LyondellBasell Industries will post 8.81 EPS for the current fiscal year.

LyondellBasell Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 6th. Investors of record on Tuesday, May 30th were paid a $1.25 dividend. This is an increase from LyondellBasell Industries’s previous quarterly dividend of $1.19. This represents a $5.00 annualized dividend and a yield of 5.45%. The ex-dividend date of this dividend was Friday, May 26th. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 54.11%.

About LyondellBasell Industries

(Free Report)

LyondellBasell Industries N.V. operates as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.