Assenagon Asset Management S.A. Has $46.57 Million Stock Position in LyondellBasell Industries N.V. $LYB

Key Points

• Assenagon Asset Management increased its LyondellBasell position by 734.6% in the second quarter, acquiring 778,459 additional shares to hold 884,436 shares worth approximately $46.57 million. Institutional investors collectively own 71.2% of the company.
• LyondellBasell shares opened at $59.50, down 3.2%, while analysts maintain a consensus “Hold” rating and a $72.56 average price target.
• The company reported quarterly EPS of $4.30, exceeding the $3.44 consensus estimate, and revenue of $9.18 billion. It also maintains a quarterly dividend of $0.69, equivalent to a 4.6% annualized yield.

Assenagon Asset Management S.A. boosted its holdings in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 734.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 884,436 shares of the specialty chemicals company's stock after purchasing an additional 778,459 shares during the period. Assenagon Asset Management S.A. owned about 0.27% of LyondellBasell Industries worth $46,566,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Oxbow Advisors LLC bought a new position in LyondellBasell Industries in the 4th quarter valued at approximately $4,616,000. Swedbank AB increased its holdings in shares of LyondellBasell Industries by 16.0% during the fourth quarter. Swedbank AB now owns 242,726 shares of the specialty chemicals company's stock worth $10,510,000 after buying an additional 33,399 shares in the last quarter. Stanley Laman Group Ltd. lifted its stake in shares of 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 valued at $2,313,000 after acquiring an additional 21,235 shares during the last quarter. Tejara Capital Ltd bought a new position in shares of LyondellBasell Industries in the 4th quarter valued at $1,425,000. Finally, Evergreen Capital Management LLC acquired a new stake in shares of LyondellBasell Industries during the 4th quarter valued at $1,003,000. Institutional investors own 71.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Evercore upped their target price on LyondellBasell Industries from $70.00 to $73.00 in a report on Thursday, May 14th. Deutsche Bank Aktiengesellschaft upped their price objective on LyondellBasell Industries from $75.00 to $80.00 and gave the company a "hold" rating in a research note on Tuesday, May 5th. Morgan Stanley cut their target price on shares of LyondellBasell Industries from $77.00 to $72.00 and set an "overweight" rating on the stock in a research report on Monday, July 20th. Alembic Global Advisors decreased their price objective on LyondellBasell Industries from $95.00 to $83.00 and set an "overweight" rating for the company in a report on Thursday, July 2nd. Finally, Royal Bank Of Canada upped their price target on LyondellBasell Industries from $65.00 to $72.00 and gave the company an "outperform" rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, LyondellBasell Industries presently has an average rating of "Hold" and a consensus target price of $72.56.

LyondellBasell Industries Stock Down 3.2%

Shares of LyondellBasell Industries stock opened at $59.50 on Friday. The firm has a market cap of $19.22 billion, a price-to-earnings ratio of -52.65, a PEG ratio of 0.16 and a beta of 0.31. The stock's 50-day moving average is $59.71 and its 200 day moving average is $64.12. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.64 and a quick ratio of 1.07. LyondellBasell Industries N.V. has a one year low of $41.58 and a one year high of $83.94.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The specialty chemicals company reported $4.30 EPS for the quarter, topping the consensus estimate of $3.44 by $0.86. The company had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $9.21 billion. LyondellBasell Industries had a negative net margin of 1.13% and a positive return on equity of 17.44%. The company's quarterly revenue was up 19.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.62 EPS. Equities research analysts anticipate that LyondellBasell Industries N.V. will post 9.39 EPS for the current year.

LyondellBasell Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Monday, June 1st were paid a $0.69 dividend. The ex-dividend date was Monday, June 1st. This represents a $2.76 annualized dividend and a dividend yield of 4.6%. LyondellBasell Industries's dividend payout ratio (DPR) is currently -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.

Want to see what other hedge funds are holding LYB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LyondellBasell Industries N.V. (NYSE:LYB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source