Bank of New York Mellon Corp Has $68.66 Million Position in LyondellBasell Industries N.V. $LYB

Key Points

• Bank of New York Mellon trimmed its stake in LyondellBasell by 2.4% in the fourth quarter, but still held 1,585,642 shares valued at about $68.7 million.
• LyondellBasell reported mixed quarterly results: EPS of $0.49 beat expectations, while revenue of $7.20 billion came in below forecasts and was down 6.3% year over year.
• The company recently paid a $0.69 quarterly dividend, equal to an annualized yield of about 4.3%, while analysts currently rate the stock a consensus "Hold" with an average target price of $76.71.

Bank of New York Mellon Corp cut its holdings in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 2.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,585,642 shares of the specialty chemicals company's stock after selling 38,234 shares during the period. Bank of New York Mellon Corp owned approximately 0.49% of LyondellBasell Industries worth $68,658,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of LYB. Woodline Partners LP grew its stake in shares of LyondellBasell Industries by 40.4% in the first quarter. Woodline Partners LP now owns 21,899 shares of the specialty chemicals company's stock valued at $1,542,000 after acquiring an additional 6,297 shares in the last quarter. Focus Partners Wealth grew its stake in shares of LyondellBasell Industries by 35.4% in the first quarter. Focus Partners Wealth now owns 6,866 shares of the specialty chemicals company's stock valued at $483,000 after acquiring an additional 1,796 shares in the last quarter. Baird Financial Group Inc. grew its stake in shares of LyondellBasell Industries by 69.5% in the second quarter. Baird Financial Group Inc. now owns 29,488 shares of the specialty chemicals company's stock valued at $1,706,000 after acquiring an additional 12,087 shares in the last quarter. Cerity Partners LLC grew its stake in shares of LyondellBasell Industries by 13.9% in the second quarter. Cerity Partners LLC now owns 49,348 shares of the specialty chemicals company's stock valued at $2,855,000 after acquiring an additional 6,032 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in shares of LyondellBasell Industries by 9.9% in the second quarter. Daiwa Securities Group Inc. now owns 41,416 shares of the specialty chemicals company's stock valued at $2,397,000 after acquiring an additional 3,715 shares in the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

LyondellBasell Industries Stock Down 1.4%

LYB stock opened at $63.53 on Wednesday. The stock has a market capitalization of $20.51 billion, a P/E ratio of -25.51, a price-to-earnings-growth ratio of 0.15 and a beta of 0.28. The company has a current ratio of 1.54, a quick ratio of 1.03 and a debt-to-equity ratio of 1.12. LyondellBasell Industries N.V. has a 12 month low of $41.58 and a 12 month high of $83.94. The firm has a 50-day moving average price of $72.17 and a 200-day moving average price of $60.23.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last posted its earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.18. The firm had revenue of $7.20 billion during the quarter, compared to analysts' expectations of $7.53 billion. LyondellBasell Industries had a negative net margin of 2.68% and a positive return on equity of 5.68%. The business's revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.33 earnings per share. As a group, equities research analysts anticipate that LyondellBasell Industries N.V. will post 8.73 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Monday, June 1st were issued a $0.69 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 4.3%. LyondellBasell Industries's dividend payout ratio is -110.84%.

Analyst Ratings Changes

Several research firms recently commented on LYB. The Goldman Sachs Group upped their price target on shares of LyondellBasell Industries from $51.00 to $75.00 and gave the company a "sell" rating in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of LyondellBasell Industries from $75.00 to $80.00 and gave the stock a "hold" rating in a research note on Tuesday, May 5th. Vertical Research upgraded shares of LyondellBasell Industries from a "hold" rating to a "buy" rating and set a $75.00 price objective on the stock in a research note on Monday, March 9th. Wolfe Research increased their price objective on shares of LyondellBasell Industries from $38.00 to $62.00 and gave the stock an "underperform" rating in a research note on Tuesday, April 14th. Finally, Evercore increased their price objective on shares of LyondellBasell Industries from $70.00 to $73.00 in a research note on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, LyondellBasell Industries currently has an average rating of "Hold" and an average target price of $76.71.

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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