LyondellBasell Industries N.V. $LYB Stock Bought by Inspire Investing LLC

Key Points

• Inspire Investing more than doubled its LyondellBasell stake in the third quarter, increasing its holdings by 131.1% to 70,437 shares valued at approximately $4.05 million. Institutional investors collectively own 71.2% of LYB stock.
• Analyst sentiment remains mixed, with the stock carrying an overall “Hold” rating and an average price target of $71.50. Recent actions included a BMO target increase to $68, while Citigroup lowered its target to $63 and maintained a neutral rating.
• LyondellBasell reported quarterly EPS of $4.30, exceeding the $3.44 consensus estimate, while revenue reached $9.18 billion. The company also declared a quarterly dividend of $0.69 per share, equivalent to a 4.1% annualized yield.

Inspire Investing LLC increased its position in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 131.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,437 shares of the specialty chemicals company's stock after buying an additional 39,953 shares during the period. Inspire Investing LLC's holdings in LyondellBasell Industries were worth $4,048,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in LyondellBasell Industries by 16.7% in the second quarter. BlackRock Inc. now owns 29,298,859 shares of the specialty chemicals company's stock worth $1,542,585,000 after acquiring an additional 4,185,571 shares in the last quarter. State Street Corp increased its holdings in shares of LyondellBasell Industries by 9.1% during the second quarter. State Street Corp now owns 14,734,948 shares of the specialty chemicals company's stock valued at $775,795,000 after acquiring an additional 1,225,833 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of LyondellBasell Industries by 23.0% during the first quarter. Royal Bank of Canada now owns 3,534,647 shares of the specialty chemicals company's stock valued at $284,750,000 after acquiring an additional 660,340 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of LyondellBasell Industries by 16.6% during the first quarter. Bank of New York Mellon Corp now owns 1,848,621 shares of the specialty chemicals company's stock worth $148,925,000 after purchasing an additional 262,979 shares during the period. Finally, Bank of America Corp DE raised its position in shares of LyondellBasell Industries by 46.7% during the first quarter. Bank of America Corp DE now owns 1,547,735 shares of the specialty chemicals company's stock worth $124,686,000 after purchasing an additional 492,753 shares during the period. 71.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on LYB shares. BMO Capital Markets increased their target price on LyondellBasell Industries from $64.00 to $68.00 and gave the stock a "market perform" rating in a report on Monday, August 3rd. Barclays initiated coverage on shares of LyondellBasell Industries in a research note on Tuesday, October 13th. They set an "equal weight" rating and a $66.00 price target for the company. Weiss Ratings downgraded shares of LyondellBasell Industries from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, August 26th. Wall Street Zen lowered shares of LyondellBasell Industries from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 5th. Finally, Citigroup reiterated a "neutral" rating and set a $63.00 price objective (down from $72.00) on shares of LyondellBasell Industries in a report on Wednesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $71.50.

LyondellBasell Industries Stock Up 1.8%

Shares of NYSE:LYB opened at $66.54 on Friday. The stock has a market cap of $21.50 billion, a price-to-earnings ratio of -58.89, a PEG ratio of 0.17 and a beta of 0.30. The company has a quick ratio of 1.07, a current ratio of 1.64 and a debt-to-equity ratio of 1.05. LyondellBasell Industries N.V. has a 12-month low of $41.58 and a 12-month high of $83.94. The business's 50 day moving average is $62.60 and its 200 day moving average is $64.20.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The specialty chemicals company reported $4.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.44 by $0.86. The business had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $9.21 billion. LyondellBasell Industries had a positive return on equity of 17.44% and a negative net margin of 1.13%. LyondellBasell Industries's revenue was up 19.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.62 earnings per share. On average, sell-side analysts forecast that LyondellBasell Industries N.V. will post 9.25 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 24th were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Monday, August 24th. LyondellBasell Industries's payout ratio is currently -244.25%.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. is a global chemical company that produces polymers, chemicals and related products used in packaging, transportation, construction, healthcare, consumer goods and other industries. Its portfolio includes polyethylene, polypropylene, advanced polymers, propylene oxide, solvents, acetyls and other chemical intermediates.

The company also operates businesses involved in refining and in the development and licensing of chemical and polymer technologies. Its products are used to manufacture items such as food and beverage packaging, automotive components, medical products, coatings, adhesives and household goods.

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