Allianz Asset Management GmbH Has $45.76 Million Stake in LyondellBasell Industries N.V. (NYSE:LYB)

Allianz Asset Management GmbH lowered its stake in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 31.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 649,949 shares of the specialty chemicals company's stock after selling 297,665 shares during the period. Allianz Asset Management GmbH owned approximately 0.20% of LyondellBasell Industries worth $45,756,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. M&T Bank Corp grew its holdings in LyondellBasell Industries by 1.1% during the first quarter. M&T Bank Corp now owns 19,950 shares of the specialty chemicals company's stock valued at $1,405,000 after purchasing an additional 209 shares during the period. GAMMA Investing LLC boosted its position in shares of LyondellBasell Industries by 56.7% during the first quarter. GAMMA Investing LLC now owns 3,015 shares of the specialty chemicals company's stock worth $212,000 after purchasing an additional 1,091 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of LyondellBasell Industries by 28.3% in the 1st quarter. Farther Finance Advisors LLC now owns 9,168 shares of the specialty chemicals company's stock valued at $642,000 after buying an additional 2,021 shares during the period. Townsend & Associates Inc increased its position in shares of LyondellBasell Industries by 28.1% in the 1st quarter. Townsend & Associates Inc now owns 29,019 shares of the specialty chemicals company's stock valued at $2,043,000 after buying an additional 6,371 shares in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new stake in LyondellBasell Industries during the 1st quarter worth $442,000. 71.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Citigroup decreased their target price on LyondellBasell Industries from $58.00 to $56.00 in a research note on Wednesday, June 11th. Mizuho boosted their price objective on LyondellBasell Industries from $65.00 to $67.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Argus downgraded shares of LyondellBasell Industries from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Piper Sandler reduced their price target on shares of LyondellBasell Industries from $67.00 to $66.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Finally, Wells Fargo & Company raised their price objective on shares of LyondellBasell Industries from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, LyondellBasell Industries currently has a consensus rating of "Hold" and an average target price of $66.00.

LyondellBasell Industries Stock Up 5.5%

Shares of LyondellBasell Industries stock traded up $3.36 during trading hours on Friday, reaching $64.06. 5,730,012 shares of the company's stock were exchanged, compared to its average volume of 3,417,836. The stock has a market cap of $20.59 billion, a P/E ratio of 19.77, a P/E/G ratio of 3.60 and a beta of 0.82. The company has a 50 day moving average of $59.95 and a two-hundred day moving average of $65.81. The company has a current ratio of 1.83, a quick ratio of 1.04 and a debt-to-equity ratio of 0.87. LyondellBasell Industries N.V. has a fifty-two week low of $51.11 and a fifty-two week high of $100.46.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The specialty chemicals company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). LyondellBasell Industries had a net margin of 2.81% and a return on equity of 13.19%. The company had revenue of $7.68 billion for the quarter, compared to analyst estimates of $7.69 billion. During the same period last year, the company posted $1.53 earnings per share. The business's revenue for the quarter was down 7.6% on a year-over-year basis. On average, sell-side analysts forecast that LyondellBasell Industries N.V. will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Monday, June 2nd were paid a $1.37 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $5.48 dividend on an annualized basis and a yield of 8.56%. This is a boost from LyondellBasell Industries's previous quarterly dividend of $1.34. LyondellBasell Industries's dividend payout ratio (DPR) is currently 169.14%.

LyondellBasell Industries Profile

LyondellBasell Industries N.V. operates as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.