Bank of New York Mellon Corp Acquires 262,979 Shares of LyondellBasell Industries N.V. $LYB

Bank of New York Mellon Corp grew its holdings in LyondellBasell Industries N.V. (NYSE:LYB) by 16.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,848,621 shares of the specialty chemicals company’s stock after purchasing an additional 262,979 shares during the period. Bank of New York Mellon Corp’s holdings in LyondellBasell Industries were worth $148,925,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp grew its holdings in shares of LyondellBasell Industries by 2.7% in the fourth quarter. State Street Corp now owns 13,544,711 shares of the specialty chemicals company’s stock worth $586,486,000 after purchasing an additional 361,761 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings 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 buying an additional 399,130 shares in the last quarter. Capital World Investors boosted its position in LyondellBasell Industries by 0.4% in 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 buying an additional 36,187 shares during the period. Capital Research Global Investors boosted its position in 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 valued at $396,615,000 after buying an additional 4,770,260 shares during the period. Finally, Morgan Stanley grew its stake in 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 acquiring an additional 1,300,271 shares in the last quarter. 71.20% of the stock is currently owned by institutional investors.

LyondellBasell Industries Price Performance

LYB opened at $59.23 on Monday. The business’s 50-day moving average is $62.92 and its two-hundred day moving average is $62.81. LyondellBasell Industries N.V. has a 1 year low of $41.58 and a 1 year high of $83.94. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.54 and a quick ratio of 1.03. The firm has a market capitalization of $19.12 billion, a PE ratio of -23.79, a price-to-earnings-growth ratio of 0.18 and a beta of 0.32.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.18. The company had revenue of $7.20 billion during the quarter, compared to analysts’ expectations of $7.53 billion. LyondellBasell Industries had a negative net margin of 2.68% and a positive return on equity of 5.68%. LyondellBasell Industries’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.33 earnings per share. Research analysts anticipate that LyondellBasell Industries N.V. will post 9.07 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Monday, June 1st were given a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend was Monday, June 1st. LyondellBasell Industries’s dividend payout ratio (DPR) is presently -110.84%.

Wall Street Analyst Weigh In

Several research analysts have commented on LYB shares. Wall Street Zen downgraded LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Monday, July 13th. Wells Fargo & Company upgraded LyondellBasell Industries from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $80.00 to $98.00 in a report on Thursday, May 28th. Jefferies Financial Group increased their price target on LyondellBasell Industries from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Thursday, April 16th. Mizuho cut their price target on LyondellBasell Industries from $76.00 to $62.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 1st. Finally, JPMorgan Chase & Co. lifted their price objective on LyondellBasell Industries from $50.00 to $75.00 and gave the company a “neutral” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, LyondellBasell Industries presently has a consensus rating of “Hold” and a consensus target price of $72.22.

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.