Fisher Funds Management LTD Sells 12,636 Shares of LyondellBasell Industries N.V. $LYB

Fisher Funds Management LTD decreased its position in shares of LyondellBasell Industries N.V. (NYSE:LYB) by 13.7% during the first quarter, HoldingsChannel reports. The institutional investor owned 79,727 shares of the specialty chemicals company’s stock after selling 12,636 shares during the period. Fisher Funds Management LTD’s holdings in LyondellBasell Industries were worth $6,424,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in LYB. State Street Corp raised its holdings in LyondellBasell Industries by 2.7% in the 4th quarter. State Street Corp now owns 13,544,711 shares of the specialty chemicals company’s stock worth $586,486,000 after acquiring an additional 361,761 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in LyondellBasell Industries by 4.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,102,068 shares of the specialty chemicals company’s stock valued at $437,420,000 after purchasing an additional 399,130 shares during the last quarter. Capital World Investors boosted its stake in LyondellBasell Industries by 0.4% during the 4th quarter. Capital World Investors now owns 9,843,930 shares of the specialty chemicals company’s stock valued at $426,242,000 after purchasing an additional 36,187 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of LyondellBasell Industries by 108.7% in the 4th quarter. Capital Research Global Investors now owns 9,159,702 shares of the specialty chemicals company’s stock worth $396,615,000 after purchasing an additional 4,770,260 shares in the last quarter. Finally, Morgan Stanley increased its holdings in shares of LyondellBasell Industries by 16.9% in the 4th quarter. Morgan Stanley now owns 8,971,741 shares of the specialty chemicals company’s stock worth $388,476,000 after purchasing an additional 1,300,271 shares in the last quarter. Institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Stock Performance

Shares of LYB opened at $59.96 on Monday. The firm has a market capitalization of $19.35 billion, a P/E ratio of -24.08, a PEG ratio of 0.14 and a beta of 0.28. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.54 and a quick ratio of 1.03. LyondellBasell Industries N.V. has a one year low of $41.58 and a one year high of $83.94. The business has a fifty day moving average of $69.53 and a 200 day moving average of $61.11.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.18. The company had revenue of $7.20 billion for the quarter, compared to the consensus estimate of $7.53 billion. LyondellBasell Industries had a positive return on equity of 5.68% and a negative net margin of 2.68%.LyondellBasell Industries’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.33 earnings per share. As a group, sell-side analysts anticipate that LyondellBasell Industries N.V. will post 8.73 EPS for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Monday, June 1st were given a dividend of $0.69 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $2.76 annualized dividend and a dividend yield of 4.6%. LyondellBasell Industries’s dividend payout ratio is presently -110.84%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on LYB shares. Jefferies Financial Group upped their price target on LyondellBasell Industries from $70.00 to $75.00 and gave the company a “hold” rating in a report on Thursday, April 16th. Deutsche Bank Aktiengesellschaft boosted their target price on LyondellBasell Industries from $75.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, May 5th. Bank of America restated an “underperform” rating and set a $55.00 target price on shares of LyondellBasell Industries in a research note on Monday, April 6th. Fermium Researc upgraded shares of LyondellBasell Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 9th. Finally, Morgan Stanley boosted their price objective on shares of LyondellBasell Industries from $52.00 to $77.00 and gave the company an “overweight” rating in a report on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $76.71.

About LyondellBasell Industries

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.