Mirae Asset Global Investments Co. Ltd. Increases Position in LyondellBasell Industries N.V. (NYSE:LYB)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 12.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 247,598 shares of the specialty chemicals company's stock after purchasing an additional 27,313 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.08% of LyondellBasell Industries worth $17,287,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Old North State Wealth Management LLC grew its stake in LyondellBasell Industries by 20.0% in the 1st quarter. Old North State Wealth Management LLC now owns 39,217 shares of the specialty chemicals company's stock valued at $2,765,000 after acquiring an additional 6,549 shares during the period. Park Place Capital Corp grew its position in shares of LyondellBasell Industries by 63.1% in the first quarter. Park Place Capital Corp now owns 4,277 shares of the specialty chemicals company's stock valued at $301,000 after purchasing an additional 1,655 shares during the period. swisspartners Advisors Ltd grew its position in shares of LyondellBasell Industries by 10.0% in the first quarter. swisspartners Advisors Ltd now owns 95,323 shares of the specialty chemicals company's stock valued at $6,711,000 after purchasing an additional 8,675 shares during the period. Creative Financial Designs Inc. ADV increased its stake in shares of LyondellBasell Industries by 178.0% during the first quarter. Creative Financial Designs Inc. ADV now owns 1,821 shares of the specialty chemicals company's stock worth $128,000 after purchasing an additional 1,166 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of LyondellBasell Industries by 10.4% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 468,630 shares of the specialty chemicals company's stock worth $32,992,000 after purchasing an additional 43,981 shares during the last quarter. 71.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LYB has been the subject of several research reports. Wells Fargo & Company cut their price objective on LyondellBasell Industries from $90.00 to $85.00 and set an "overweight" rating for the company in a research note on Friday, April 4th. BMO Capital Markets decreased their price objective on LyondellBasell Industries from $71.00 to $65.00 and set a "market perform" rating on the stock in a report on Wednesday, April 30th. Argus cut shares of LyondellBasell Industries from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. UBS Group reiterated a "sell" rating and issued a $51.00 target price (down from $76.00) on shares of LyondellBasell Industries in a research report on Monday, April 7th. Finally, The Goldman Sachs Group lowered their price target on shares of LyondellBasell Industries from $81.00 to $65.00 and set a "sell" rating on the stock in a research report on Monday, April 28th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $69.75.

LyondellBasell Industries Trading Up 0.6%

NYSE LYB opened at $58.75 on Monday. LyondellBasell Industries N.V. has a 12 month low of $51.11 and a 12 month high of $100.46. The stock has a market capitalization of $18.88 billion, a P/E ratio of 18.13, a PEG ratio of 2.18 and a beta of 0.82. The firm's 50-day moving average is $58.03 and its two-hundred day moving average is $67.29. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.83 and a quick ratio of 1.04.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last posted its earnings results on Friday, April 25th. The specialty chemicals company reported $0.33 earnings per share 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 during the quarter, compared to analyst estimates of $7.69 billion. During the same quarter last year, the business posted $1.53 EPS. The firm's revenue for the quarter was down 7.6% on a year-over-year basis. On average, sell-side analysts anticipate that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current year.

LyondellBasell Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Monday, June 2nd were issued a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 9.33%. The ex-dividend date of this dividend was Monday, June 2nd. This is an increase from LyondellBasell Industries's previous quarterly dividend of $1.34. LyondellBasell Industries's payout ratio is currently 169.14%.

About LyondellBasell Industries

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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