Mackenzie Financial Corp Purchases 4,748 Shares of LyondellBasell Industries N.V. (NYSE:LYB)

Key Points

• Mackenzie Financial Corp increased its stake in LyondellBasell Industries, acquiring an additional 4,748 shares, raising its ownership by 7.8%, now holding a total of 65,507 shares valued at approximately $4.6 million.
• Several institutional investors have recently altered their positions in LyondellBasell, contributing to a significant 71.20% institutional ownership of the company's stock.
• LyondellBasell reported a quarterly earnings miss with $0.62 EPS against estimates of $0.87, alongside a decrease in revenue of 11.8% year-over-year.

Mackenzie Financial Corp boosted its position in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 7.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,507 shares of the specialty chemicals company's stock after acquiring an additional 4,748 shares during the quarter. Mackenzie Financial Corp's holdings in LyondellBasell Industries were worth $4,612,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rossby Financial LCC acquired a new position in shares of LyondellBasell Industries in the first quarter valued at $25,000. JFS Wealth Advisors LLC increased its holdings in shares of LyondellBasell Industries by 352.3% in the first quarter. JFS Wealth Advisors LLC now owns 398 shares of the specialty chemicals company's stock valued at $28,000 after purchasing an additional 310 shares during the last quarter. Investment Management Corp VA ADV increased its holdings in shares of LyondellBasell Industries by 177.6% in the first quarter. Investment Management Corp VA ADV now owns 408 shares of the specialty chemicals company's stock valued at $29,000 after purchasing an additional 261 shares during the last quarter. Lazard Asset Management LLC increased its holdings in shares of LyondellBasell Industries by 84.9% in the fourth quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company's stock valued at $34,000 after purchasing an additional 214 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of LyondellBasell Industries by 107.6% in the fourth quarter. Covestor Ltd now owns 548 shares of the specialty chemicals company's stock valued at $41,000 after purchasing an additional 284 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 several research reports. The Goldman Sachs Group decreased their price objective on shares of LyondellBasell Industries from $81.00 to $65.00 and set a "sell" rating on the stock in a report on Monday, April 28th. Mizuho upped their price target on shares of LyondellBasell Industries from $65.00 to $67.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $60.00 price target (down from $80.00) on shares of LyondellBasell Industries in a research note on Friday, April 4th. Wells Fargo & Company upped their price target on shares of LyondellBasell Industries from $70.00 to $75.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Finally, BMO Capital Markets decreased their price target on shares of LyondellBasell Industries from $65.00 to $60.00 in a research note on Friday, June 27th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $66.00.

LyondellBasell Industries Trading Down 7.8%

Shares of LyondellBasell Industries stock opened at $53.41 on Friday. The company has a market capitalization of $17.17 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 3.39 and a beta of 0.85. The company has a quick ratio of 1.04, a current ratio of 1.83 and a debt-to-equity ratio of 0.87. LyondellBasell Industries N.V. has a 12-month low of $51.11 and a 12-month high of $99.36. The firm's 50-day moving average price is $60.13 and its two-hundred day moving average price is $65.35.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.25). The firm had revenue of $7.66 billion for the quarter, compared to analyst estimates of $7.58 billion. LyondellBasell Industries had a return on equity of 13.19% and a net margin of 2.81%. The company's quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.24 earnings per share. On average, analysts forecast that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Monday, June 2nd were paid a dividend of $1.37 per share. The ex-dividend date of this dividend was Monday, June 2nd. This is a boost from LyondellBasell Industries's previous quarterly dividend of $1.34. This represents a $5.48 dividend on an annualized basis and a dividend yield of 10.3%. LyondellBasell Industries's payout ratio is presently 169.14%.

LyondellBasell Industries Company 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.

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