Assetmark Inc. Sells 13,995 Shares of LyondellBasell Industries N.V. $LYB

Assetmark Inc. cut its holdings in LyondellBasell Industries N.V. (NYSE:LYB) by 34.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,831 shares of the specialty chemicals company’s stock after selling 13,995 shares during the quarter. Assetmark Inc.’s holdings in LyondellBasell Industries were worth $2,162,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Oxbow Advisors LLC purchased a new stake in shares of LyondellBasell Industries in the 4th quarter valued at $4,616,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of LyondellBasell Industries by 32.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 56,986 shares of the specialty chemicals company’s stock valued at $2,633,000 after acquiring an additional 14,006 shares during the last quarter. Swedbank AB grew its position in LyondellBasell Industries by 16.0% during the 4th quarter. Swedbank AB now owns 242,726 shares of the specialty chemicals company’s stock worth $10,510,000 after acquiring an additional 33,399 shares during the last quarter. Stanley Laman Group Ltd. increased its stake in LyondellBasell Industries by 66.0% in the 4th quarter. Stanley Laman Group Ltd. now owns 53,423 shares of the specialty chemicals company’s stock worth $2,313,000 after purchasing an additional 21,235 shares during the period. Finally, Tejara Capital Ltd purchased a new position in shares of LyondellBasell Industries in the fourth quarter worth $1,425,000. Institutional investors and hedge funds own 71.20% of the company’s stock.

LyondellBasell Industries Trading Down 0.8%

Shares of NYSE LYB opened at $61.80 on Friday. LyondellBasell Industries N.V. has a 1 year low of $41.58 and a 1 year high of $83.94. The stock has a market cap of $19.95 billion, a P/E ratio of -24.82, a price-to-earnings-growth ratio of 0.20 and a beta of 0.32. The firm has a 50-day moving average of $61.95 and a 200 day moving average of $63.32. 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 (NYSE:LYB) last announced its quarterly earnings data on Friday, May 1st. The specialty chemicals company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.18. LyondellBasell Industries had a negative net margin of 2.68% and a positive return on equity of 5.68%. The business had revenue of $7.20 billion for the quarter, compared to analysts’ expectations of $7.53 billion. During the same quarter in the prior year, the company earned $0.33 earnings per share. The business’s revenue was down 6.3% compared to the same quarter last year. As a group, sell-side analysts expect that LyondellBasell Industries N.V. will post 8.73 EPS 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 dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend was Monday, June 1st. LyondellBasell Industries’s dividend payout ratio (DPR) is -110.84%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Jefferies Financial Group increased their price target on shares of LyondellBasell Industries from $70.00 to $75.00 and gave the company a “hold” rating in a research report on Thursday, April 16th. Royal Bank Of Canada cut their target price on LyondellBasell Industries from $94.00 to $65.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft upped their price target on LyondellBasell Industries from $75.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday, May 5th. UBS Group reduced their target price on LyondellBasell Industries from $82.00 to $73.00 and set a “neutral” rating on the stock in a research note on Friday, June 5th. Finally, Zacks Research lowered LyondellBasell Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 1st. One equities 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 given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $71.94.

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.