QRG Capital Management Inc. Sells 22,311 Shares of LyondellBasell Industries N.V. $LYB

Key Points

• QRG Capital Management reduced its stake in LyondellBasell Industries by 23% in the first quarter, selling 22,311 shares and leaving it with 74,857 shares worth about $6.03 million.
• Analyst sentiment is mixed to cautious: recent moves included downgrades from Weiss Ratings and Bank of America, while the overall consensus from MarketBeat remains "Hold" with a $73.56 price target.
• LyondellBasell reported Q1 EPS of $0.49, beating estimates, but revenue missed expectations and fell 6.3% year over year; the company also paid a quarterly dividend of $0.69 per share, implying a 5.2% yield.

QRG Capital Management Inc. cut its position in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 23.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 74,857 shares of the specialty chemicals company's stock after selling 22,311 shares during the quarter. QRG Capital Management Inc.'s holdings in LyondellBasell Industries were worth $6,030,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Capital Research Global Investors grew its holdings in shares of LyondellBasell Industries by 108.7% in the 4th quarter. Capital Research Global Investors now owns 9,159,702 shares of the specialty chemicals company's stock valued at $396,615,000 after acquiring an additional 4,770,260 shares in the last quarter. AQR Capital Management LLC raised its holdings in LyondellBasell Industries by 512.9% during the fourth quarter. AQR Capital Management LLC now owns 3,093,318 shares of the specialty chemicals company's stock worth $133,941,000 after acquiring an additional 2,588,636 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in LyondellBasell Industries by 5,451.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,457,591 shares of the specialty chemicals company's stock valued at $63,114,000 after purchasing an additional 1,431,334 shares during the last quarter. Morgan Stanley boosted its position in LyondellBasell Industries by 16.9% during the fourth quarter. Morgan Stanley now owns 8,971,741 shares of the specialty chemicals company's stock valued at $388,476,000 after purchasing an additional 1,300,271 shares during the last quarter. Finally, Norges Bank bought a new position in LyondellBasell Industries in the fourth quarter valued at approximately $52,210,000. Institutional investors and hedge funds own 71.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Weiss Ratings downgraded shares of LyondellBasell Industries from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, June 24th. Bank of America cut their price target on shares of LyondellBasell Industries from $68.00 to $48.00 and set an "underperform" rating for the company in a research note on Tuesday, June 30th. Alembic Global Advisors decreased their price objective on shares of LyondellBasell Industries from $95.00 to $83.00 and set an "overweight" rating for the company in a research report on Thursday. Vertical Research upgraded shares of LyondellBasell Industries from a "hold" rating to a "buy" rating and set a $75.00 price objective on the stock in a research note on Monday, March 9th. Finally, Royal Bank Of Canada dropped their target price on shares of LyondellBasell Industries from $94.00 to $65.00 and set an "outperform" rating on the stock in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $73.56.

LyondellBasell Industries Price Performance

Shares of NYSE LYB opened at $53.37 on Monday. The firm has a market cap of $17.23 billion, a P/E ratio of -21.44, a price-to-earnings-growth ratio of 0.18 and a beta of 0.32. The business's 50 day moving average is $66.09 and its 200-day moving average is $61.86. The company has a current ratio of 1.54, a quick ratio of 1.03 and a debt-to-equity ratio of 1.12. LyondellBasell Industries N.V. has a 1-year low of $41.58 and a 1-year high of $83.94.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last released its quarterly earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.18. LyondellBasell Industries had a negative net margin of 2.68% and a positive return on equity of 5.68%. The business had revenue of $7.20 billion for the quarter, compared to analyst estimates of $7.53 billion. During the same period last year, the firm earned $0.33 earnings per share. LyondellBasell Industries's revenue for the quarter was down 6.3% compared to the same quarter last year. Equities research analysts predict that LyondellBasell Industries N.V. will post 8.58 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Monday, June 1st were paid a dividend of $0.69 per share. The ex-dividend date was Monday, June 1st. This represents a $2.76 annualized dividend and a yield of 5.2%. LyondellBasell Industries's dividend payout ratio is presently -110.84%.

About LyondellBasell Industries

LyondellBasell Industries N.V. NYSE: LYB is a global chemical company headquartered in Houston, Texas, that specializes in the production of polyolefins and advanced polymers. Through its extensive portfolio, the company supplies raw materials for a wide range of end markets, including packaging, automotive, construction, electronics and consumer goods. By combining proprietary process technologies with expertise in catalysts, LyondellBasell aims to deliver value-added solutions that enhance product performance and sustainability.

The company's integrated operations encompass the manufacture of olefins and polyolefins, advanced polymer products, chemical intermediates and refining activities.

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