BlackRock Inc. Increases Stake in LyondellBasell Industries N.V. $LYB

Key Points

• BlackRock increased its LyondellBasell stake by 16.7% in the second quarter, adding 4.19 million shares to own 29.30 million shares, or 9.07% of LYB. Institutional investors and hedge funds collectively own 71.2% of the company.
• LyondellBasell reported quarterly EPS of $4.30, beating estimates of $3.44, while revenue reached $9.18 billion and rose 19.8% year over year. Shares were recently trading at $68.23, up 3.3%.
• The company declared a quarterly dividend of $0.69 per share, equal to $2.76 annually and a 4.0% yield. Analysts maintain a consensus “Hold” rating with an average price target of $72.56.

BlackRock Inc. lifted its position in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 16.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,298,859 shares of the specialty chemicals company's stock after acquiring an additional 4,185,571 shares during the period. BlackRock Inc. owned 9.07% of LyondellBasell Industries worth $1,542,585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of LYB. Capital Research Global Investors lifted its stake in LyondellBasell Industries by 108.7% during the 4th quarter. Capital Research Global Investors now owns 9,159,702 shares of the specialty chemicals company's stock valued at $396,615,000 after acquiring an additional 4,770,260 shares during the period. AQR Capital Management LLC grew its position in LyondellBasell Industries by 512.9% during the 4th quarter. AQR Capital Management LLC now owns 3,093,318 shares of the specialty chemicals company's stock worth $133,941,000 after purchasing an additional 2,588,636 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of LyondellBasell Industries by 5,451.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,457,591 shares of the specialty chemicals company's stock valued at $63,114,000 after buying an additional 1,431,334 shares during the last quarter. Morgan Stanley lifted its holdings in shares of LyondellBasell Industries by 16.9% in the 4th quarter. Morgan Stanley now owns 8,971,741 shares of the specialty chemicals company's stock valued at $388,476,000 after buying an additional 1,300,271 shares during the period. Finally, Norges Bank purchased a new stake in shares of LyondellBasell Industries in the fourth quarter worth about $52,210,000. 71.20% of the stock is owned by institutional investors and hedge funds.

LyondellBasell Industries Trading Up 3.3%

Shares of LyondellBasell Industries stock opened at $68.23 on Friday. The stock has a 50 day moving average of $59.53 and a 200 day moving average of $65.11. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.07 and a current ratio of 1.64. The firm has a market capitalization of $22.04 billion, a price-to-earnings ratio of -60.38, a PEG ratio of 0.18 and a beta of 0.31. LyondellBasell Industries N.V. has a fifty-two week low of $41.58 and a fifty-two week high of $83.94.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The specialty chemicals company reported $4.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.44 by $0.86. The business had revenue of $9.18 billion for 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 business's revenue was up 19.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 EPS. As a group, research analysts predict that LyondellBasell Industries N.V. will post 9.39 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently declared 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 4.0%. The ex-dividend date of this dividend is Monday, August 24th. LyondellBasell Industries's dividend payout ratio is currently -244.25%.

Analyst Ratings Changes

LYB has been the topic of a number of analyst reports. Citigroup dropped their price objective on shares of LyondellBasell Industries from $80.00 to $67.00 and set a "buy" rating on the stock in a research note on Wednesday, June 24th. The Goldman Sachs Group lifted their price objective on shares of LyondellBasell Industries from $51.00 to $75.00 and gave the company a "sell" rating in a report on Monday, May 4th. BMO Capital Markets upped their price objective on shares of LyondellBasell Industries from $64.00 to $68.00 and gave the stock a "market perform" rating in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft increased their target price on LyondellBasell Industries from $75.00 to $80.00 and gave the company a "hold" rating in a research report on Tuesday, May 5th. Finally, UBS Group raised their price target on shares of LyondellBasell Industries from $56.00 to $64.00 and gave the company a "neutral" rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $72.56.

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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