Allianz Asset Management GmbH Purchases 399,605 Shares of LyondellBasell Industries N.V. $LYB

Key Points

• Allianz Asset Management increased its LyondellBasell stake by 91.3% in the second quarter, purchasing 399,605 shares and bringing its total holdings to 837,288 shares valued at approximately $44.1 million.
• Institutional ownership remains significant at 71.2%, with California State Teachers Retirement System and Amundi among other investors expanding their positions.
• Analyst sentiment is mixed but improving: JPMorgan and Wells Fargo upgraded the stock, while the overall rating remains “Hold” with an average price target of $72.56. LyondellBasell recently beat quarterly EPS estimates and pays a $0.69 quarterly dividend, yielding about 4.3%.

Allianz Asset Management GmbH raised its position in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 91.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 837,288 shares of the specialty chemicals company's stock after purchasing an additional 399,605 shares during the quarter. Allianz Asset Management GmbH owned 0.26% of LyondellBasell Industries worth $44,083,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LYB. Parrish Capital LLC increased its stake in LyondellBasell Industries by 2.0% in the 2nd quarter. Parrish Capital LLC now owns 17,434 shares of the specialty chemicals company's stock worth $918,000 after buying an additional 347 shares in the last quarter. Corient Private Wealth LP boosted its stake in shares of LyondellBasell Industries by 30.6% in the second quarter. Corient Private Wealth LP now owns 60,920 shares of the specialty chemicals company's stock worth $3,208,000 after acquiring an additional 14,285 shares during the period. Amundi grew its position in shares of LyondellBasell Industries by 42.4% during the second quarter. Amundi now owns 1,199,539 shares of the specialty chemicals company's stock worth $63,156,000 after purchasing an additional 357,014 shares in the last quarter. California State Teachers Retirement System grew its position in shares of LyondellBasell Industries by 5,280.5% during the second quarter. California State Teachers Retirement System now owns 15,773,782 shares of the specialty chemicals company's stock worth $830,490,000 after purchasing an additional 15,480,616 shares in the last quarter. Finally, HB Wealth Management LLC boosted its position in shares of LyondellBasell Industries by 64.5% during the second quarter. HB Wealth Management LLC now owns 20,996 shares of the specialty chemicals company's stock worth $1,105,000 after acquiring an additional 8,235 shares during the last quarter. 71.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on LYB shares. Evercore raised their target price on shares of LyondellBasell Industries from $70.00 to $73.00 in a research note on Thursday, May 14th. JPMorgan Chase & Co. upgraded LyondellBasell Industries from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $75.00 to $80.00 in a research report on Monday, August 3rd. Royal Bank Of Canada increased their price target on LyondellBasell Industries from $65.00 to $72.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. Wells Fargo & Company raised LyondellBasell Industries from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $80.00 to $98.00 in a research note on Thursday, May 28th. Finally, Mizuho boosted their price target on shares of LyondellBasell Industries from $62.00 to $66.00 and gave the stock a "neutral" rating in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, LyondellBasell Industries currently has an average rating of "Hold" and an average price target of $72.56.

LyondellBasell Industries Price Performance

LyondellBasell Industries stock opened at $63.62 on Tuesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.64 and a quick ratio of 1.07. The stock has a market cap of $20.55 billion, a price-to-earnings ratio of -56.30, a price-to-earnings-growth ratio of 0.17 and a beta of 0.31. The firm has a 50-day moving average of $60.82 and a two-hundred day moving average of $65.82. LyondellBasell Industries N.V. has a 1 year low of $41.58 and a 1 year high of $83.94.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last issued its earnings results on Friday, July 31st. The specialty chemicals company reported $4.30 EPS for the quarter, topping analysts' consensus estimates of $3.44 by $0.86. LyondellBasell Industries had a negative net margin of 1.13% and a positive return on equity of 17.44%. The business had revenue of $9.18 billion for the quarter, compared to analyst estimates of $9.21 billion. During the same period last year, the company posted $0.62 earnings per share. The company's quarterly revenue was up 19.8% compared to the same quarter last year. On average, research analysts forecast that LyondellBasell Industries N.V. will post 9.2 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 24th were paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Monday, August 24th. LyondellBasell Industries's payout ratio is -244.25%.

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.

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