Assenagon Asset Management S.A. Acquires Shares of 105,977 LyondellBasell Industries N.V. $LYB

Assenagon Asset Management S.A. acquired a new stake in LyondellBasell Industries N.V. (NYSE:LYB) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 105,977 shares of the specialty chemicals company’s stock, valued at approximately $8,538,000.

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

LyondellBasell Industries Trading Down 0.1%

LYB opened at $55.67 on Monday. The stock has a market capitalization of $17.97 billion, a price-to-earnings ratio of -22.36, a P/E/G ratio of 0.12 and a beta of 0.28. The company has a quick ratio of 1.03, a current ratio of 1.54 and a debt-to-equity ratio of 1.12. LyondellBasell Industries N.V. has a twelve month low of $41.58 and a twelve month high of $83.94. The company has a 50-day simple moving average of $67.85 and a 200 day simple moving average of $61.55.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.31 by $0.18. The firm had revenue of $7.20 billion for the quarter, compared to analyst estimates of $7.53 billion. LyondellBasell Industries had a negative net margin of 2.68% and a positive return on equity of 5.68%. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period last year, the firm earned $0.33 EPS. Analysts predict that LyondellBasell Industries N.V. will post 9.22 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Monday, June 1st were given a dividend of $0.69 per share. The ex-dividend date was Monday, June 1st. This represents a $2.76 annualized dividend and a dividend yield of 5.0%. LyondellBasell Industries’s dividend payout ratio (DPR) is currently -110.84%.

Analysts Set New Price Targets

LYB has been the topic of a number of recent research reports. UBS Group lowered their price target on shares of LyondellBasell Industries from $82.00 to $73.00 and set a “neutral” rating on the stock in a research report on Friday, June 5th. Wall Street Zen downgraded shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Saturday. Evercore increased their target price on shares of LyondellBasell Industries from $70.00 to $73.00 in a research report on Thursday, May 14th. Vertical Research raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Monday, March 9th. Finally, Wells Fargo & Company upgraded shares of LyondellBasell Industries from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $80.00 to $98.00 in a research report on Thursday, May 28th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, LyondellBasell Industries presently has a consensus rating of “Hold” and a consensus target price of $75.94.

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.