Janney Montgomery Scott LLC Sells 30,919 Shares of LyondellBasell Industries N.V. $LYB

Key Points

• Janney Montgomery Scott LLC reduced its LyondellBasell stake by 37.8% in the first quarter, selling 30,919 shares and leaving it with 50,886 shares valued at about $4.1 million.
• LyondellBasell (NYSE: LYB) rose 2.3% to $54.18, but the stock remains well below its 50-day and 200-day moving averages and sits near the lower end of its 52-week range.
• The company beat quarterly EPS estimates with $0.49 per share, though revenue came in below expectations; it also paid a quarterly dividend of $0.69 per share, implying an annualized yield of about 5.1%.

Janney Montgomery Scott LLC cut its holdings in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 37.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 50,886 shares of the specialty chemicals company's stock after selling 30,919 shares during the period. Janney Montgomery Scott LLC's holdings in LyondellBasell Industries were worth $4,099,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Capital World Investors boosted its stake in LyondellBasell Industries by 13.1% in the third quarter. Capital World Investors now owns 9,807,743 shares of the specialty chemicals company's stock worth $480,972,000 after purchasing an additional 1,135,258 shares in the last quarter. Bruce & Co. Inc. raised its holdings in shares of LyondellBasell Industries by 50.0% in the third quarter. Bruce & Co. Inc. now owns 60,000 shares of the specialty chemicals company's stock valued at $2,942,000 after buying an additional 20,000 shares during the last quarter. Barclays PLC lifted its position in LyondellBasell Industries by 3.5% during the 3rd quarter. Barclays PLC now owns 1,006,356 shares of the specialty chemicals company's stock worth $49,352,000 after buying an additional 33,873 shares in the last quarter. Capital International Inc. CA grew its holdings in LyondellBasell Industries by 29.2% during the 3rd quarter. Capital International Inc. CA now owns 69,146 shares of the specialty chemicals company's stock worth $3,391,000 after acquiring an additional 15,644 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC grew its holdings in LyondellBasell Industries by 6.3% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 354,380 shares of the specialty chemicals company's stock worth $17,379,000 after acquiring an additional 20,906 shares during the last quarter. 71.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

LYB has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft upped their target price on shares of LyondellBasell Industries from $75.00 to $80.00 and gave the stock a "hold" rating in a research report on Tuesday, May 5th. Royal Bank Of Canada reduced their price objective on LyondellBasell Industries from $94.00 to $65.00 and set an "outperform" rating on the stock in a report on Wednesday, July 1st. Morgan Stanley lifted their target price on LyondellBasell Industries from $52.00 to $77.00 and gave the company an "overweight" rating in a research note on Tuesday, April 21st. BMO Capital Markets cut their price target on LyondellBasell Industries from $88.00 to $64.00 and set a "market perform" rating on the stock in a research note on Monday. Finally, Evercore raised their price target on LyondellBasell Industries from $70.00 to $73.00 in a report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, LyondellBasell Industries presently has an average rating of "Hold" and an average target price of $72.22.

LyondellBasell Industries Trading Up 2.3%

LYB stock traded up $1.21 during midday trading on Tuesday, reaching $54.18. The company's stock had a trading volume of 356,066 shares, compared to its average volume of 6,910,843. The business's 50-day simple moving average is $66.09 and its 200-day simple moving average is $61.86. The company has a quick ratio of 1.03, a current ratio of 1.54 and a debt-to-equity ratio of 1.12. LyondellBasell Industries N.V. has a 52 week low of $41.58 and a 52 week high of $83.94. The stock has a market cap of $17.49 billion, a PE ratio of -21.78, a price-to-earnings-growth ratio of 0.18 and a beta of 0.32.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $7.20 billion for the quarter, compared to the consensus estimate of $7.53 billion. During the same quarter in the prior year, the business posted $0.33 EPS. The firm's quarterly revenue was down 6.3% on a year-over-year basis. As a group, sell-side analysts expect that LyondellBasell Industries N.V. will post 8.58 EPS for the current year.

LyondellBasell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Monday, June 1st were issued a dividend of $0.69 per share. The ex-dividend date was Monday, June 1st. This represents a $2.76 dividend on an annualized basis and a yield of 5.1%. LyondellBasell Industries's payout ratio is currently -110.84%.

LyondellBasell Industries 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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