LyondellBasell Industries N.V. $LYB Shares Sold by First Horizon Corp

First Horizon Corp trimmed its stake in shares of LyondellBasell Industries N.V. (NYSE:LYB) by 59.2% in the first quarter, Holdings Channel reports. The fund owned 8,479 shares of the specialty chemicals company’s stock after selling 12,316 shares during the period. First Horizon Corp’s holdings in LyondellBasell Industries were worth $683,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. State Street Corp raised its position 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 buying an additional 361,761 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of LyondellBasell Industries by 4.1% in 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 acquiring an additional 399,130 shares during the period. Capital World Investors boosted its holdings in shares of 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 acquiring an additional 36,187 shares in the last quarter. Capital Research Global Investors increased its stake 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 acquiring an additional 4,770,260 shares during the period. Finally, Morgan Stanley increased its stake in shares of 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 acquiring an additional 1,300,271 shares during the period. Institutional investors and hedge funds own 71.20% of the company’s stock.

LyondellBasell Industries Trading Up 1.6%

Shares of LYB stock opened at $56.30 on Friday. The stock has a market cap of $18.17 billion, a P/E ratio of -22.61, a P/E/G ratio of 0.18 and a beta of 0.32. 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 fifty-two week low of $41.58 and a fifty-two week high of $83.94. The business has a fifty day simple moving average of $64.46 and a 200-day simple moving average of $62.14.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data 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. LyondellBasell Industries had a negative net margin of 2.68% and a positive return on equity of 5.68%. The firm had revenue of $7.20 billion for the quarter, compared to analysts’ expectations of $7.53 billion. During the same period in the prior year, the company earned $0.33 EPS. The firm’s revenue was down 6.3% on a year-over-year basis. On average, analysts forecast that LyondellBasell Industries N.V. will post 8.84 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

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 $0.69 dividend. The ex-dividend date was Monday, June 1st. This represents a $2.76 annualized dividend and a dividend yield of 4.9%. LyondellBasell Industries’s dividend payout ratio is currently -110.84%.

Analyst Ratings Changes

A number of brokerages recently commented on LYB. Zacks Research downgraded shares of LyondellBasell Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 1st. The Goldman Sachs Group increased their target price on LyondellBasell Industries from $51.00 to $75.00 and gave the stock a “sell” rating in a research note on Monday, May 4th. Morgan Stanley raised their price target on LyondellBasell Industries from $52.00 to $77.00 and gave the company an “overweight” rating in a report on Tuesday, April 21st. Bank of America dropped their price objective on LyondellBasell Industries from $68.00 to $48.00 and set an “underperform” rating on the stock in a report on Tuesday, June 30th. Finally, Royal Bank Of Canada cut their price objective on LyondellBasell Industries from $94.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $72.22.

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.