Handelsbanken Fonder AB Acquires Shares of 54,000 LyondellBasell Industries N.V. $LYB

Key Points

• Handelsbanken Fonder AB initiated a position in LyondellBasell during the second quarter, purchasing 54,000 shares valued at approximately $2.84 million. Institutional investors 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.
• Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and an average price target of $72.56. The company also declared a quarterly dividend of $0.69 per share, representing a 4.3% annualized yield.

Handelsbanken Fonder AB bought a new position in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 54,000 shares of the specialty chemicals company's stock, valued at approximately $2,843,000.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its stake in LyondellBasell Industries by 2.7% during the 4th quarter. State Street Corp now owns 13,544,711 shares of the specialty chemicals company's stock valued at $586,486,000 after purchasing an additional 361,761 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of LyondellBasell Industries by 4.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,102,068 shares of the specialty chemicals company's stock worth $437,420,000 after purchasing an additional 399,130 shares during the last quarter. Capital World Investors lifted its holdings in shares of LyondellBasell Industries by 0.4% during the fourth quarter. Capital World Investors now owns 9,843,930 shares of the specialty chemicals company's stock valued at $426,242,000 after purchasing an additional 36,187 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of LyondellBasell Industries by 108.7% during the fourth quarter. Capital Research Global Investors now owns 9,159,702 shares of the specialty chemicals company's stock valued at $396,615,000 after purchasing an additional 4,770,260 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of LyondellBasell Industries by 16.9% during the fourth 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 last quarter. Hedge funds and other institutional investors own 71.20% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Wells Fargo & Company raised LyondellBasell Industries from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $80.00 to $98.00 in a research report on Thursday, May 28th. Deutsche Bank Aktiengesellschaft raised their price target on shares of LyondellBasell Industries from $75.00 to $80.00 and gave the company a "hold" rating in a report on Tuesday, May 5th. The Goldman Sachs Group boosted 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. Mizuho increased their price objective on shares of LyondellBasell Industries from $62.00 to $66.00 and gave the company a "neutral" rating in a research report on Monday, August 3rd. Finally, Zacks Research cut shares of LyondellBasell Industries from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $72.56.

LyondellBasell Industries Trading Down 0.0%

Shares of NYSE:LYB opened at $63.76 on Monday. The stock's 50-day simple moving average is $59.37 and its two-hundred day simple moving average is $64.65. The stock has a market capitalization of $20.60 billion, a price-to-earnings ratio of -56.42, a PEG ratio of 0.17 and a beta of 0.31. LyondellBasell Industries N.V. has a 52-week low of $41.58 and a 52-week high of $83.94. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.07 and a current ratio of 1.64.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The specialty chemicals company reported $4.30 EPS for the quarter, beating the consensus estimate of $3.44 by $0.86. LyondellBasell Industries had a negative net margin of 1.13% and a positive return on equity of 17.44%. The firm had revenue of $9.18 billion during the quarter, compared to analyst estimates of $9.21 billion. During the same quarter in the prior year, the firm earned $0.62 EPS. The business's revenue for the quarter was up 19.8% compared to the same quarter last year. Analysts expect that LyondellBasell Industries N.V. will post 9.39 EPS for the current year.

LyondellBasell Industries Announces Dividend

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

About LyondellBasell Industries

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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