ASR Vermogensbeheer N.V. Makes New Investment in LyondellBasell Industries N.V. (NYSE:LYB)

Key Points

• ASR Vermogensbeheer N.V. made a significant investment in LyondellBasell Industries, purchasing 39,202 shares valued at approximately $2.76 million in the first quarter.
• Despite a quarterly revenue of $7.66 billion, LyondellBasell reported an EPS of $0.62, missing estimates and marking a decline of 11.8% year-over-year.
• The company announced a quarterly dividend of $1.37 per share, translating to an annual yield of 10.9%, with a high dividend payout ratio of 711.69%.

ASR Vermogensbeheer N.V. purchased a new position in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 39,202 shares of the specialty chemicals company's stock, valued at approximately $2,760,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LYB. Pacer Advisors Inc. increased its stake in LyondellBasell Industries by 3,502.2% in the 1st quarter. Pacer Advisors Inc. now owns 2,015,528 shares of the specialty chemicals company's stock worth $141,893,000 after buying an additional 1,959,576 shares in the last quarter. Ensign Peak Advisors Inc boosted its stake in shares of LyondellBasell Industries by 207.8% in the fourth quarter. Ensign Peak Advisors Inc now owns 2,254,589 shares of the specialty chemicals company's stock worth $167,448,000 after acquiring an additional 1,522,043 shares during the period. Dodge & Cox grew its position in shares of LyondellBasell Industries by 5.3% during the fourth quarter. Dodge & Cox now owns 16,965,832 shares of the specialty chemicals company's stock worth $1,260,052,000 after purchasing an additional 851,365 shares in the last quarter. Federated Hermes Inc. raised its stake in LyondellBasell Industries by 12.7% during the 1st quarter. Federated Hermes Inc. now owns 4,744,239 shares of the specialty chemicals company's stock valued at $333,994,000 after purchasing an additional 534,456 shares during the period. Finally, Deutsche Bank AG lifted its holdings in LyondellBasell Industries by 38.4% in the 4th quarter. Deutsche Bank AG now owns 1,446,788 shares of the specialty chemicals company's stock worth $107,453,000 after purchasing an additional 401,412 shares in the last quarter. 71.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LYB has been the subject of several research analyst reports. Wells Fargo & Company cut their target price on shares of LyondellBasell Industries from $75.00 to $65.00 and set an "overweight" rating for the company in a research note on Monday. UBS Group cut their price objective on LyondellBasell Industries from $49.00 to $44.00 and set a "sell" rating for the company in a research report on Thursday. Mizuho boosted their target price on LyondellBasell Industries from $65.00 to $67.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Citigroup dropped their price target on LyondellBasell Industries from $56.00 to $53.00 and set a "neutral" rating for the company in a research note on Monday. Finally, Piper Sandler decreased their price objective on LyondellBasell Industries from $67.00 to $66.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $63.08.

LyondellBasell Industries Stock Performance

LyondellBasell Industries stock opened at $50.18 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.77 and a quick ratio of 1.04. The firm has a market capitalization of $16.14 billion, a P/E ratio of 65.16, a price-to-earnings-growth ratio of 3.21 and a beta of 0.85. LyondellBasell Industries N.V. has a 1-year low of $49.27 and a 1-year high of $99.36. The company's 50-day moving average is $59.61 and its 200 day moving average is $64.63.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last released its earnings results on Friday, August 1st. The specialty chemicals company reported $0.62 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.25). LyondellBasell Industries had a net margin of 0.74% and a return on equity of 9.35%. The business had revenue of $7.66 billion for the quarter, compared to the consensus estimate of $7.58 billion. During the same period in the prior year, the company posted $2.24 EPS. The company's quarterly revenue was down 11.8% compared to the same quarter last year. Research analysts forecast that LyondellBasell Industries N.V. will post 6.31 EPS for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 25th will be given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 10.9%. The ex-dividend date is Monday, August 25th. LyondellBasell Industries's dividend payout ratio (DPR) is 711.69%.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. operates as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.

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