Amundi Raises Position in LyondellBasell Industries N.V. $LYB

Key Points

• Amundi increased its LyondellBasell stake by 42.4% in the second quarter, adding 357,014 shares to own 1.2 million shares worth approximately $63.2 million. Institutional investors and hedge funds collectively own 71.2% of the company.
• Analyst sentiment is mixed: JPMorgan and RBC upgraded the stock, while Morgan Stanley cut its price target and other firms issued downgrades. The consensus rating is “Hold,” with an average price target of $72.56.
• LyondellBasell reported quarterly EPS of $4.30, beating estimates of $3.44, while revenue rose 19.8% year over year to $9.18 billion. The company also maintains a quarterly dividend of $0.69, equivalent to a 4.3% annual yield.

Amundi grew its position in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 42.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,199,539 shares of the specialty chemicals company's stock after acquiring an additional 357,014 shares during the quarter. Amundi owned about 0.37% of LyondellBasell Industries worth $63,156,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Banque Cantonale Vaudoise acquired a new position in LyondellBasell Industries during the first quarter worth about $48,000. Quarry LP acquired a new position in shares of LyondellBasell Industries during the 3rd quarter worth approximately $31,000. Clearstead Advisors LLC grew its position in shares of LyondellBasell Industries by 140.3% in the fourth quarter. Clearstead Advisors LLC now owns 668 shares of the specialty chemicals company's stock valued at $29,000 after purchasing an additional 390 shares in the last quarter. CYBER HORNET ETFs LLC acquired a new stake in shares of LyondellBasell Industries in the second quarter valued at approximately $39,000. Finally, Kelleher Financial Advisors lifted its position in LyondellBasell Industries by 4,112.5% during the second quarter. Kelleher Financial Advisors now owns 674 shares of the specialty chemicals company's stock worth $35,000 after buying an additional 658 shares in the last quarter. 71.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LYB. Morgan Stanley dropped their target price on LyondellBasell Industries from $77.00 to $72.00 and set an "overweight" rating for the company in a report on Monday, July 20th. Weiss Ratings cut shares of LyondellBasell Industries from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, August 26th. JPMorgan Chase & Co. raised shares of LyondellBasell Industries from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $75.00 to $80.00 in a report on Monday, August 3rd. Royal Bank Of Canada raised their price objective on shares of LyondellBasell Industries from $65.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 5th. Finally, Wall Street Zen downgraded shares of LyondellBasell Industries from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 5th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $72.56.

LyondellBasell Industries Stock Down 0.3%

Shares of LYB opened at $64.33 on Friday. The company's 50-day simple moving average is $61.52 and its 200-day simple moving average is $66.00. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.07 and a current ratio of 1.64. 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 capitalization of $20.78 billion, a PE ratio of -56.93, a P/E/G ratio of 0.18 and a beta of 0.31.

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

LyondellBasell Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 24th were given a $0.69 dividend. The ex-dividend date of this dividend was Monday, August 24th. This represents a $2.76 dividend on an annualized basis and a yield of 4.3%. LyondellBasell Industries's dividend payout ratio (DPR) is currently -244.25%.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. NYSE: LYB is a global chemical company that produces plastics, chemicals and refined products used in packaging, transportation, construction, healthcare, electronics and other consumer and industrial applications. Its portfolio includes polyethylene, polypropylene, propylene oxide, oxyfuels, acetyls and other intermediate chemicals, as well as advanced polymer compounds and solutions.

The company operates across the petrochemical value chain, converting hydrocarbon feedstocks into materials and specialty products.

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