California State Teachers Retirement System Buys 15,480,616 Shares of LyondellBasell Industries N.V. $LYB

Key Points

• California State Teachers Retirement System increased its LyondellBasell stake by 5,280.5%, purchasing 15.48 million additional shares to own 15.77 million shares, or 4.88% of the company, valued at approximately $830.5 million.
• LyondellBasell reported quarterly EPS of $4.30, exceeding analysts’ $3.44 estimate, while revenue reached $9.18 billion and rose 19.8% year over year.
• The company maintains a quarterly dividend of $0.69 per share, equivalent to a 4.3% yield. Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and a $72.41 average price target.

California State Teachers Retirement System raised its position in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 5,280.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 15,773,782 shares of the specialty chemicals company's stock after purchasing an additional 15,480,616 shares during the period. California State Teachers Retirement System owned 4.88% of LyondellBasell Industries worth $830,490,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of LYB. Clearstead Advisors LLC grew its position in shares of LyondellBasell Industries by 140.3% during the 4th quarter. Clearstead Advisors LLC now owns 668 shares of the specialty chemicals company's stock worth $29,000 after buying an additional 390 shares during the period. Quarry LP acquired a new position in shares of LyondellBasell Industries during the 3rd quarter valued at $31,000. Fideuram Asset Management Ireland dac bought a new position in LyondellBasell Industries during the fourth quarter worth $34,000. Kelleher Financial Advisors boosted its stake in LyondellBasell Industries by 4,112.5% during the second quarter. Kelleher Financial Advisors now owns 674 shares of the specialty chemicals company's stock worth $35,000 after acquiring an additional 658 shares in the last quarter. Finally, Harbour Investments Inc. grew its holdings in LyondellBasell Industries by 74.7% in the fourth quarter. Harbour Investments Inc. now owns 884 shares of the specialty chemicals company's stock worth $38,000 after purchasing an additional 378 shares during the period. 71.20% of the stock is owned by institutional investors.

LyondellBasell Industries Price Performance

LYB stock opened at $63.72 on Monday. The firm has a 50 day moving average of $61.72 and a 200-day moving average of $66.05. The firm has a market capitalization of $20.58 billion, a P/E ratio of -56.38, a price-to-earnings-growth ratio of 0.17 and a beta of 0.31. LyondellBasell Industries N.V. has a 12 month low of $41.58 and a 12 month high of $83.94. The company has a current ratio of 1.64, a quick ratio of 1.07 and a debt-to-equity ratio of 1.05.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last announced its earnings results on Friday, July 31st. The specialty chemicals company reported $4.30 earnings per share for the quarter, topping analysts' consensus estimates of $3.44 by $0.86. The business had revenue of $9.18 billion for the quarter, compared to analyst estimates of $9.21 billion. LyondellBasell Industries had a positive return on equity of 17.44% and a negative net margin of 1.13%.The company's quarterly revenue was up 19.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.62 EPS. As a group, sell-side analysts predict that LyondellBasell Industries N.V. will post 9.18 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 24th were issued a dividend of $0.69 per share. The ex-dividend date of this dividend was Monday, August 24th. This represents a $2.76 annualized dividend and a dividend yield of 4.3%. LyondellBasell Industries's dividend payout ratio (DPR) is currently -244.25%.

Analyst Ratings Changes

A number of research firms recently weighed in on LYB. Weiss Ratings downgraded LyondellBasell Industries from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, August 26th. Wall Street Zen downgraded shares of LyondellBasell Industries from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 5th. BMO Capital Markets upped their target price on shares of LyondellBasell Industries from $64.00 to $68.00 and gave the stock a "market perform" rating in a report on Monday, August 3rd. Mizuho lifted their price target on LyondellBasell Industries from $62.00 to $66.00 and gave the company a "neutral" rating in a research note on Monday, August 3rd. Finally, UBS Group lifted their target price on LyondellBasell Industries from $56.00 to $64.00 and gave the company a "neutral" rating in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $72.41.

LyondellBasell Industries Profile

LyondellBasell Industries N.V. NYSE: LYB is a global chemical company that produces plastics, chemicals and refined products used in packaging, transportation, construction, healthcare, electronics and other consumer and industrial applications. Its portfolio includes polyethylene, polypropylene, propylene oxide, oxyfuels, acetyls and other intermediate chemicals, as well as advanced polymer compounds and solutions.

The company operates across the petrochemical value chain, converting hydrocarbon feedstocks into materials and specialty products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.