Mitsubishi UFJ Asset Management Co. Ltd. Has $33.50 Million Stake in LyondellBasell Industries N.V. (NYSE:LYB)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. has increased its stake in LyondellBasell Industries by 13.0%, owning approximately 0.15% of the company worth about $33.5 million.
• Analysts have largely downgraded their price targets for LyondellBasell, with Bank of America and JPMorgan reducing theirs to $55.00 and $52.00 respectively, while the company has a consensus rating of "Hold".
• LyondellBasell recently reported a quarterly earnings miss of $0.62 per share, significantly lower than the analysts' expectations of $0.87, with a substantial annual revenue decline of 11.8%.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 13.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 475,818 shares of the specialty chemicals company's stock after buying an additional 54,639 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.15% of LyondellBasell Industries worth $33,498,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rossby Financial LCC purchased a new stake in LyondellBasell Industries in the 1st quarter worth approximately $25,000. JFS Wealth Advisors LLC lifted its position in LyondellBasell Industries by 352.3% in the 1st quarter. JFS Wealth Advisors LLC now owns 398 shares of the specialty chemicals company's stock worth $28,000 after buying an additional 310 shares in the last quarter. Investment Management Corp VA ADV lifted its position in LyondellBasell Industries by 177.6% in the 1st quarter. Investment Management Corp VA ADV now owns 408 shares of the specialty chemicals company's stock worth $29,000 after buying an additional 261 shares in the last quarter. Lazard Asset Management LLC lifted its position in LyondellBasell Industries by 84.9% in the 4th quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company's stock worth $34,000 after buying an additional 214 shares in the last quarter. Finally, Covestor Ltd lifted its position in LyondellBasell Industries by 107.6% in the 4th quarter. Covestor Ltd now owns 548 shares of the specialty chemicals company's stock worth $41,000 after buying an additional 284 shares in the last quarter. Hedge funds and other institutional investors own 71.20% of the company's stock.

LyondellBasell Industries Stock Performance

NYSE:LYB traded down $0.16 during midday trading on Thursday, reaching $52.77. The stock had a trading volume of 1,680,265 shares, compared to its average volume of 3,902,435. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.77 and a quick ratio of 1.04. The stock has a market capitalization of $16.97 billion, a P/E ratio of 68.59, a PEG ratio of 3.26 and a beta of 0.85. The firm's fifty day simple moving average is $59.16 and its 200-day simple moving average is $63.88. LyondellBasell Industries N.V. has a 1-year low of $47.55 and a 1-year high of $99.36.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.25). The company had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.58 billion. LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%. The business's revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.24 earnings per share. On average, equities research analysts forecast that LyondellBasell Industries N.V. will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 25th will be given a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 10.4%. The ex-dividend date is Monday, August 25th. LyondellBasell Industries's dividend payout ratio (DPR) is currently 711.69%.

Wall Street Analyst Weigh In

LYB has been the subject of a number of research analyst reports. Fermium Researc upgraded shares of LyondellBasell Industries to a "strong-buy" rating in a research report on Friday, April 25th. Wall Street Zen lowered shares of LyondellBasell Industries from a "hold" rating to a "sell" rating in a research note on Monday, April 28th. Royal Bank Of Canada dropped their price target on shares of LyondellBasell Industries from $64.00 to $54.00 and set a "sector perform" rating on the stock in a research note on Tuesday, August 5th. Citigroup dropped their price target on shares of LyondellBasell Industries from $56.00 to $53.00 and set a "neutral" rating on the stock in a research note on Monday, August 4th. Finally, Mizuho increased their price target on shares of LyondellBasell Industries from $65.00 to $67.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $63.08.

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.