California State Teachers Retirement System Buys 6,431 Shares of LyondellBasell Industries N.V. $LYB

Key Points

• California State Teachers Retirement System increased its LyondellBasell stake by 2.2% in the second quarter, bringing its holdings to 299,597 shares valued at approximately $15.8 million. Institutional investors collectively own 71.2% of the company.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $72.41. Recent targets ranged from $68 to $98, while some analysts upgraded the stock and others downgraded it.
• LyondellBasell reported quarterly EPS of $4.30, exceeding estimates of $3.44, on revenue of $9.18 billion. The company also maintained its $0.69 quarterly dividend, representing a 4.2% annualized yield.

California State Teachers Retirement System boosted its position in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 2.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 299,597 shares of the specialty chemicals company's stock after buying an additional 6,431 shares during the quarter. California State Teachers Retirement System owned approximately 0.09% of LyondellBasell Industries worth $15,773,782 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. HB Wealth Management LLC grew its stake in LyondellBasell Industries by 64.5% in the second quarter. HB Wealth Management LLC now owns 20,996 shares of the specialty chemicals company's stock valued at $1,105,000 after purchasing an additional 8,235 shares during the last quarter. Saudi Central Bank raised its holdings in LyondellBasell Industries by 89.8% during the second quarter. Saudi Central Bank now owns 18,042 shares of the specialty chemicals company's stock worth $950,000 after purchasing an additional 8,537 shares in the last quarter. AlphaGrep UK Ltd acquired a new position in shares of LyondellBasell Industries in the second quarter worth $326,000. BAM Wealth Management LLC lifted its position in LyondellBasell Industries by 21.9% during the 2nd quarter. BAM Wealth Management LLC now owns 5,962 shares of the specialty chemicals company's stock worth $314,000 after acquiring an additional 1,070 shares in the last quarter. Finally, Raiffeisen Bank International AG grew its position in shares of LyondellBasell Industries by 2,925.3% during the 2nd quarter. Raiffeisen Bank International AG now owns 11,466 shares of the specialty chemicals company's stock valued at $615,000 after buying an additional 11,087 shares during the last quarter. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Zacks Research downgraded LyondellBasell Industries from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 1st. Wells Fargo & Company upgraded LyondellBasell Industries from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $80.00 to $98.00 in a research report on Thursday, May 28th. BMO Capital Markets boosted their price objective on LyondellBasell Industries from $64.00 to $68.00 and gave the company a "market perform" rating in a research note on Monday, August 3rd. Morgan Stanley reduced their price target on shares of LyondellBasell Industries from $77.00 to $72.00 and set an "overweight" rating on the stock in a research report on Monday, July 20th. Finally, Weiss Ratings cut shares of LyondellBasell Industries from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, August 26th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, LyondellBasell Industries has a consensus rating of "Hold" and an average price target of $72.41.

LyondellBasell Industries Trading Up 3.9%

LYB stock traded up $2.43 during trading on Tuesday, reaching $65.18. 1,299,414 shares of the stock traded hands, compared to its average volume of 6,176,816. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.64 and a quick ratio of 1.07. LyondellBasell Industries N.V. has a 52-week low of $41.58 and a 52-week high of $83.94. The business's 50 day moving average price is $61.92 and its 200-day moving average price is $66.08. The firm has a market capitalization of $21.06 billion, a PE ratio of -57.64, a P/E/G ratio of 0.17 and a beta of 0.31.

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

LyondellBasell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 24th were issued a dividend of $0.69 per share. The ex-dividend date was Monday, August 24th. This represents a $2.76 annualized dividend and a dividend yield of 4.2%. LyondellBasell Industries's payout ratio is currently -244.25%.

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.

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