Allianz Asset Management GmbH Sells 19,441 Shares of LyondellBasell Industries N.V. $LYB

Allianz Asset Management GmbH lessened its holdings in LyondellBasell Industries N.V. (NYSE:LYB) by 3.3% in the 3rd quarter, Holdings Channel reports. The firm owned 565,437 shares of the specialty chemicals company’s stock after selling 19,441 shares during the quarter. Allianz Asset Management GmbH’s holdings in LyondellBasell Industries were worth $27,729,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of LYB. Norges Bank bought a new stake in shares of LyondellBasell Industries during the 2nd quarter worth about $280,000,000. Soundwatch Capital LLC bought a new position in shares of LyondellBasell Industries in the 2nd quarter valued at approximately $268,123,000. Ameriprise Financial Inc. lifted its holdings in LyondellBasell Industries by 67.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,372,998 shares of the specialty chemicals company’s stock worth $79,438,000 after purchasing an additional 553,081 shares during the last quarter. State Street Corp boosted its position in LyondellBasell Industries by 4.1% during the second quarter. State Street Corp now owns 12,915,151 shares of the specialty chemicals company’s stock worth $747,271,000 after purchasing an additional 514,057 shares during the period. Finally, AQR Capital Management LLC grew its holdings in LyondellBasell Industries by 30.2% during the second quarter. AQR Capital Management LLC now owns 1,607,363 shares of the specialty chemicals company’s stock valued at $92,632,000 after purchasing an additional 372,817 shares during the last quarter. 71.20% of the stock is owned by institutional investors and hedge funds.

LyondellBasell Industries Trading Down 5.6%

Shares of LYB opened at $53.92 on Friday. The stock’s 50-day moving average price is $47.00 and its 200 day moving average price is $49.50. The company has a quick ratio of 1.20, a current ratio of 1.77 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $17.36 billion, a price-to-earnings ratio of -23.14, a P/E/G ratio of 0.39 and a beta of 0.70. LyondellBasell Industries N.V. has a 12-month low of $41.58 and a 12-month high of $78.52.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, January 30th. The specialty chemicals company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.44). The firm had revenue of $7.09 billion for the quarter, compared to analyst estimates of $6.82 billion. LyondellBasell Industries had a positive return on equity of 4.94% and a negative net margin of 2.46%.LyondellBasell Industries’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.75 EPS. As a group, research analysts predict that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 8th. Stockholders of record on Monday, December 1st were paid a $1.37 dividend. The ex-dividend date was Monday, December 1st. This represents a $5.48 dividend on an annualized basis and a dividend yield of 10.2%. LyondellBasell Industries’s dividend payout ratio is currently -235.19%.

Analyst Ratings Changes

Several analysts recently issued reports on LYB shares. Wolfe Research decreased their price objective on shares of LyondellBasell Industries from $40.00 to $39.00 and set an “underperform” rating for the company in a report on Friday, January 16th. UBS Group decreased their price target on shares of LyondellBasell Industries from $41.00 to $38.00 and set a “sell” rating for the company in a report on Tuesday, December 23rd. Bank of America dropped their price objective on LyondellBasell Industries from $52.00 to $46.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Citigroup boosted their price objective on LyondellBasell Industries from $46.00 to $49.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Vertical Research lowered LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $48.00 target price on the stock. in a report on Wednesday, January 7th. One investment analyst has rated the stock with a Buy rating, seventeen have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, LyondellBasell Industries presently has a consensus rating of “Reduce” and an average target price of $51.28.

Insider Activity at LyondellBasell Industries

In other LyondellBasell Industries news, EVP Kimberly A. Foley bought 5,661 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The shares were acquired at an average cost of $43.56 per share, for a total transaction of $246,593.16. Following the transaction, the executive vice president owned 67,688 shares in the company, valued at approximately $2,948,489.28. The trade was a 9.13% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.14% of the company’s stock.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. (NYSE: LYB) is a global chemical company headquartered in Houston, Texas, that specializes in the production of polyolefins and advanced polymers. Through its extensive portfolio, the company supplies raw materials for a wide range of end markets, including packaging, automotive, construction, electronics and consumer goods. By combining proprietary process technologies with expertise in catalysts, LyondellBasell aims to deliver value-added solutions that enhance product performance and sustainability.

The company’s integrated operations encompass the manufacture of olefins and polyolefins, advanced polymer products, chemical intermediates and refining activities.