Bank of New York Mellon Corp Has $86.17 Million Stock Position in LyondellBasell Industries N.V. $LYB

Key Points

• Bank of New York Mellon reduced its LyondellBasell stake by 11.5% in the second quarter, selling 211,875 shares and retaining 1.64 million shares worth approximately $86.2 million. Institutional investors and hedge funds collectively own 71.2% of LYB.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $72.56, despite JPMorgan upgrading the stock to “overweight” and raising its target to $80.
• LyondellBasell reported quarterly EPS of $4.30, beating estimates of $3.44, while revenue reached $9.18 billion, up 19.8% year over year. The company also declared a quarterly dividend of $0.69 per share, representing a 4.4% annualized yield.

Bank of New York Mellon Corp reduced its position in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 11.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,636,746 shares of the specialty chemicals company's stock after selling 211,875 shares during the period. Bank of New York Mellon Corp owned about 0.51% of LyondellBasell Industries worth $86,175,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LYB. Oxbow Advisors LLC acquired a new stake in LyondellBasell Industries in the 4th quarter valued at about $4,616,000. Swedbank AB lifted its position 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 purchasing an additional 33,399 shares in the last quarter. Tejara Capital Ltd bought a new stake in shares of LyondellBasell Industries during the fourth quarter valued at approximately $1,425,000. Marco Investment Management LLC increased its holdings in shares of LyondellBasell Industries by 10.9% in the second quarter. Marco Investment Management LLC now owns 190,709 shares of the specialty chemicals company's stock valued at $10,041,000 after purchasing an additional 18,700 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of LyondellBasell Industries by 130.1% in the second quarter. Russell Investments Group Ltd. now owns 420,894 shares of the specialty chemicals company's stock valued at $22,187,000 after purchasing an additional 237,950 shares in the last quarter. 71.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on LYB shares. Mizuho upped their price objective on LyondellBasell Industries from $62.00 to $66.00 and gave the stock a "neutral" rating in a report on Monday, August 3rd. Zacks Research cut LyondellBasell Industries from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 1st. 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 research report on Monday, July 20th. Evercore raised their price target on LyondellBasell Industries from $70.00 to $73.00 in a report on Thursday, May 14th. Finally, JPMorgan Chase & Co. upgraded LyondellBasell Industries from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $75.00 to $80.00 in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $72.56.

LyondellBasell Industries Price Performance

LYB opened at $62.64 on Wednesday. The company has a fifty day moving average price of $59.64 and a two-hundred day moving average price of $65.35. The firm has a market capitalization of $20.23 billion, a PE ratio of -55.43, a P/E/G ratio of 0.18 and a beta of 0.31. LyondellBasell Industries N.V. has a 52 week low of $41.58 and a 52 week high of $83.94. 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 (NYSE:LYB - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The specialty chemicals company reported $4.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.44 by $0.86. LyondellBasell Industries had a positive return on equity of 17.44% and a negative net margin of 1.13%.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 earned $0.62 EPS. The firm's revenue was up 19.8% on a year-over-year basis. As a group, analysts anticipate that LyondellBasell Industries N.V. will post 9.24 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Monday, August 24th. LyondellBasell Industries's payout ratio is presently -244.25%.

LyondellBasell Industries Company 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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