California Public Employees Retirement System Sells 108,880 Shares of LyondellBasell Industries N.V. $LYB

California Public Employees Retirement System trimmed its holdings in LyondellBasell Industries N.V. (NYSE:LYB) by 23.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 363,286 shares of the specialty chemicals company’s stock after selling 108,880 shares during the period. California Public Employees Retirement System’s holdings in LyondellBasell Industries were worth $29,266,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. State Street Corp increased its stake in LyondellBasell Industries by 2.7% during 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 period. Charles Schwab Investment Management Inc. raised its stake in LyondellBasell Industries by 4.1% in the fourth 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 in the last quarter. Capital World Investors raised its stake in LyondellBasell Industries by 0.4% in the fourth 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 in the last quarter. Capital Research Global Investors lifted its position in 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 purchasing an additional 4,770,260 shares during the period. Finally, Morgan Stanley lifted its position in LyondellBasell Industries by 16.9% during the fourth 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 during the period. Institutional investors and hedge funds own 71.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on LYB shares. The Goldman Sachs Group raised their target price on shares of LyondellBasell Industries from $51.00 to $75.00 and gave the company a “sell” rating in a report on Monday, May 4th. Jefferies Financial Group upped their price target on shares of LyondellBasell Industries from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Thursday, April 16th. Bank of America decreased their price objective on shares of LyondellBasell Industries from $68.00 to $48.00 and set an “underperform” rating on the stock in a research note on Tuesday, June 30th. Royal Bank Of Canada cut their target price on LyondellBasell Industries from $94.00 to $65.00 and set an “outperform” rating for the company in a research note on Wednesday, July 1st. Finally, Weiss Ratings lowered LyondellBasell Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $71.94.

LyondellBasell Industries Trading Up 0.8%

NYSE LYB opened at $61.19 on Wednesday. The company has a market cap of $19.75 billion, a price-to-earnings ratio of -24.58, a price-to-earnings-growth ratio of 0.19 and a beta of 0.32. LyondellBasell Industries N.V. has a twelve month low of $41.58 and a twelve month high of $83.94. The company has a quick ratio of 1.03, a current ratio of 1.54 and a debt-to-equity ratio of 1.12. The business’s fifty day moving average is $62.40 and its 200 day moving average is $63.06.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.18. The business had revenue of $7.20 billion during the quarter, compared to analysts’ expectations of $7.53 billion. LyondellBasell Industries had a positive return on equity of 5.68% and a negative net margin of 2.68%.The business’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 firm earned $0.33 EPS. As a group, sell-side analysts expect that LyondellBasell Industries N.V. will post 9.07 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Monday, June 1st were issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Monday, June 1st. LyondellBasell Industries’s payout ratio is -110.84%.

LyondellBasell Industries 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.