Assenagon Asset Management S.A. Sells 770 Shares of LyondellBasell Industries (NYSE:LYB)

Assenagon Asset Management S.A. lowered its position in shares of LyondellBasell Industries (NYSE:LYBFree Report) by 1.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,073 shares of the specialty chemicals company’s stock after selling 770 shares during the quarter. Assenagon Asset Management S.A.’s holdings in LyondellBasell Industries were worth $3,877,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC bought a new stake in LyondellBasell Industries in the fourth quarter valued at about $3,760,000. M&T Bank Corp increased its holdings in LyondellBasell Industries by 2.4% in the fourth quarter. M&T Bank Corp now owns 19,741 shares of the specialty chemicals company’s stock valued at $1,467,000 after purchasing an additional 461 shares during the last quarter. Allworth Financial LP increased its holdings in LyondellBasell Industries by 59.6% in the fourth quarter. Allworth Financial LP now owns 1,511 shares of the specialty chemicals company’s stock valued at $116,000 after purchasing an additional 564 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in LyondellBasell Industries by 1.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 120,838 shares of the specialty chemicals company’s stock valued at $8,959,000 after purchasing an additional 1,403 shares during the last quarter. Finally, Lazard Asset Management LLC increased its holdings in LyondellBasell Industries by 84.9% in the fourth quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company’s stock valued at $34,000 after purchasing an additional 214 shares during the last quarter. Institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Stock Down 0.1%

LYB stock opened at $60.06 on Monday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.83 and a quick ratio of 1.13. The stock has a market capitalization of $19.30 billion, a P/E ratio of 14.51, a P/E/G ratio of 0.97 and a beta of 0.82. The business has a 50-day moving average of $57.65 and a 200-day moving average of $68.68. LyondellBasell Industries has a fifty-two week low of $51.11 and a fifty-two week high of $100.46.

LyondellBasell Industries (NYSE:LYBGet Free Report) last posted its quarterly earnings data on Friday, April 25th. The specialty chemicals company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $7.68 billion for the quarter, compared to analyst estimates of $7.69 billion. LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. The firm’s quarterly revenue was down 7.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.53 earnings per share. On average, sell-side analysts anticipate that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Monday, June 2nd were given a dividend of $1.37 per share. The ex-dividend date of this dividend was Monday, June 2nd. This is a boost from LyondellBasell Industries’s previous quarterly dividend of $1.34. This represents a $5.48 annualized dividend and a yield of 9.12%. LyondellBasell Industries’s dividend payout ratio is 169.14%.

Wall Street Analyst Weigh In

A number of research firms recently commented on LYB. Barclays dropped their price objective on LyondellBasell Industries from $72.00 to $62.00 and set an “equal weight” rating for the company in a report on Thursday, May 1st. Piper Sandler decreased their target price on LyondellBasell Industries from $67.00 to $66.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. The Goldman Sachs Group decreased their target price on LyondellBasell Industries from $81.00 to $65.00 and set a “sell” rating for the company in a research note on Monday, April 28th. Argus cut LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Finally, Wall Street Zen cut LyondellBasell Industries from a “hold” rating to a “sell” rating in a research note on Monday, April 28th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $69.75.

Get Our Latest Report on LYB

LyondellBasell Industries Profile

(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.

See Also

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Institutional Ownership by Quarter for LyondellBasell Industries (NYSE:LYB)

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