Bank of Nova Scotia Reduces Stock Holdings in LyondellBasell Industries N.V. $LYB

Bank of Nova Scotia cut its stake in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 71.0% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 39,773 shares of the specialty chemicals company's stock after selling 97,273 shares during the period. Bank of Nova Scotia's holdings in LyondellBasell Industries were worth $3,204,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of LYB. Clearstead Advisors LLC lifted its position in shares of LyondellBasell Industries by 140.3% during the fourth quarter. Clearstead Advisors LLC now owns 668 shares of the specialty chemicals company's stock worth $29,000 after purchasing an additional 390 shares in the last quarter. ORG Partners LLC increased its stake in LyondellBasell Industries by 960.0% during the 4th quarter. ORG Partners LLC now owns 689 shares of the specialty chemicals company's stock worth $30,000 after buying an additional 624 shares during the period. Quarry LP purchased a new stake in LyondellBasell Industries during the 3rd quarter worth $31,000. Key Capital Management INC acquired a new position in LyondellBasell Industries in the 4th quarter worth $34,000. Finally, Fideuram Asset Management Ireland dac purchased a new position in LyondellBasell Industries in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 71.20% of the company's stock.

LyondellBasell Industries Stock Performance

Shares of LYB stock opened at $58.24 on Wednesday. The stock has a market capitalization of $18.80 billion, a price-to-earnings ratio of -23.39, a PEG ratio of 0.19 and a beta of 0.32. LyondellBasell Industries N.V. has a one year low of $41.58 and a one year high of $83.94. The company's 50-day simple moving average is $61.05 and its 200-day simple moving average is $63.60. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.03 and a current ratio of 1.54.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last announced its quarterly earnings data on Friday, May 1st. The specialty chemicals company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.18. LyondellBasell Industries had a positive return on equity of 5.68% and a negative net margin of 2.68%.The firm had revenue of $7.20 billion during the quarter, compared to analyst estimates of $7.53 billion. During the same period in the previous year, the company earned $0.33 earnings per share. LyondellBasell Industries's quarterly revenue was down 6.3% on a year-over-year basis. Equities analysts anticipate that LyondellBasell Industries N.V. will post 8.57 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Monday, June 1st were paid a dividend of $0.69 per share. The ex-dividend date was Monday, June 1st. This represents a $2.76 annualized dividend and a yield of 4.7%. LyondellBasell Industries's dividend payout ratio (DPR) is -110.84%.

Analyst Upgrades and Downgrades

LYB has been the subject of several recent analyst reports. The Goldman Sachs Group raised their target price on LyondellBasell Industries from $51.00 to $75.00 and gave the company a "sell" rating in a research note on Monday, May 4th. Wall Street Zen downgraded LyondellBasell Industries from a "buy" rating to a "hold" rating in a report on Monday, July 13th. Wolfe Research raised their price objective on LyondellBasell Industries from $38.00 to $62.00 and gave the company an "underperform" rating in a research note on Tuesday, April 14th. Evercore lifted their price objective on LyondellBasell Industries from $70.00 to $73.00 in a report on Thursday, May 14th. Finally, Royal Bank Of Canada cut their target price on LyondellBasell Industries from $94.00 to $65.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $71.94.

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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