Bank of New York Mellon Corp Has $124.12 Million Holdings in LyondellBasell Industries N.V. (NYSE:LYB)

Bank of New York Mellon Corp decreased its position in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,763,011 shares of the specialty chemicals company's stock after selling 44,011 shares during the period. Bank of New York Mellon Corp owned 0.55% of LyondellBasell Industries worth $124,116,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Ensign Peak Advisors Inc boosted its position in shares of LyondellBasell Industries by 207.8% during the 4th quarter. Ensign Peak Advisors Inc now owns 2,254,589 shares of the specialty chemicals company's stock worth $167,448,000 after purchasing an additional 1,522,043 shares during the period. Norges Bank purchased a new position in shares of LyondellBasell Industries during the 4th quarter worth approximately $81,015,000. Dodge & Cox boosted its position in shares of LyondellBasell Industries by 5.3% during the 4th 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 during the period. Wellington Management Group LLP boosted its position in shares of LyondellBasell Industries by 35.9% during the 4th quarter. Wellington Management Group LLP now owns 2,870,666 shares of the specialty chemicals company's stock worth $213,204,000 after purchasing an additional 757,612 shares during the period. Finally, Invesco Ltd. boosted its position in LyondellBasell Industries by 13.5% in the 4th quarter. Invesco Ltd. now owns 5,826,318 shares of the specialty chemicals company's stock valued at $432,721,000 after buying an additional 694,055 shares during the period. Hedge funds and other institutional investors own 71.20% of the company's stock.

LyondellBasell Industries Stock Performance

Shares of NYSE LYB traded down $0.72 during trading hours on Friday, hitting $64.60. 2,539,849 shares of the stock were exchanged, compared to its average volume of 2,976,273. The firm has a market capitalization of $20.76 billion, a P/E ratio of 19.94, a P/E/G ratio of 2.76 and a beta of 0.82. LyondellBasell Industries N.V. has a one year low of $51.11 and a one year high of $100.46. The company's 50 day moving average is $58.86 and its 200 day moving average is $66.56. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.83 and a quick ratio of 1.04.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The specialty chemicals company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). The business had revenue of $7.68 billion during the quarter, compared to analyst estimates of $7.69 billion. LyondellBasell Industries had a net margin of 2.81% and a return on equity of 13.19%. The company's quarterly revenue was down 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.53 EPS. On average, research analysts expect that LyondellBasell Industries N.V. will post 6.31 EPS for the current year.

LyondellBasell Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Monday, June 2nd were paid a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 8.48%. The ex-dividend date was Monday, June 2nd. This is a positive change from LyondellBasell Industries's previous quarterly dividend of $1.34. LyondellBasell Industries's dividend payout ratio (DPR) is 169.14%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on LYB shares. Barclays decreased their price target on shares of LyondellBasell Industries from $72.00 to $62.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. JPMorgan Chase & Co. restated a "neutral" rating and issued a $60.00 price objective (down from $80.00) on shares of LyondellBasell Industries in a report on Friday, April 4th. Argus lowered shares of LyondellBasell Industries from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Piper Sandler reduced their price objective on shares of LyondellBasell Industries from $67.00 to $66.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Finally, The Goldman Sachs Group reduced their price objective on shares of LyondellBasell Industries from $81.00 to $65.00 and set a "sell" rating on the stock in a report on Monday, April 28th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $68.15.

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.