State of Alaska Department of Revenue Acquires 55,180 Shares of LyondellBasell Industries N.V. $LYB

Key Points

• State of Alaska Department of Revenue more than doubled its LyondellBasell stake in the third quarter, acquiring 55,180 additional shares and bringing its holdings to 102,849 shares valued at approximately $5.9 million.
• LyondellBasell shares rose 2.1% to $64.00, while institutional investors collectively owned 71.2% of the company. The stock remains well below its 52-week high of $83.94.
• The company reported quarterly EPS of $4.30, beating estimates of $3.44, and revenue of $9.18 billion. It also paid a quarterly dividend of $0.69, equivalent to a 4.3% annualized yield, while analysts maintained a consensus “Hold” rating with a $71.50 price target.

State of Alaska Department of Revenue raised its holdings in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 115.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 102,849 shares of the specialty chemicals company's stock after acquiring an additional 55,180 shares during the period. State of Alaska Department of Revenue's holdings in LyondellBasell Industries were worth $5,909,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of LYB. TT Capital Management LLC grew its stake in LyondellBasell Industries by 4.1% in the 3rd quarter. TT Capital Management LLC now owns 8,638 shares of the specialty chemicals company's stock worth $496,000 after buying an additional 338 shares in the last quarter. Curated Wealth Partners LLC bought a new stake in shares of LyondellBasell Industries during the 3rd quarter worth $766,000. HBW Advisory Services LLC lifted its holdings in shares of LyondellBasell Industries by 51.9% during the 3rd quarter. HBW Advisory Services LLC now owns 47,504 shares of the specialty chemicals company's stock worth $2,730,000 after acquiring an additional 16,241 shares during the last quarter. Lipe & Dalton grew its position in LyondellBasell Industries by 1.2% in the third quarter. Lipe & Dalton now owns 41,970 shares of the specialty chemicals company's stock worth $2,412,000 after acquiring an additional 500 shares in the last quarter. Finally, Mather Group LLC. grew its position in LyondellBasell Industries by 431.1% in the third quarter. Mather Group LLC. now owns 9,241 shares of the specialty chemicals company's stock worth $531,000 after acquiring an additional 7,501 shares in the last quarter. Institutional investors own 71.20% of the company's stock.

LyondellBasell Industries Trading Up 2.1%

Shares of LYB traded up $1.33 during trading hours on Friday, hitting $64.00. The company had a trading volume of 3,858,681 shares, compared to its average volume of 3,549,879. The firm has a market cap of $20.67 billion, a P/E ratio of -56.64, a P/E/G ratio of 0.16 and a beta of 0.30. The stock's 50 day moving average price is $62.45 and its 200 day moving average price is $64.73. The company has a quick ratio of 1.07, a current ratio of 1.64 and a debt-to-equity ratio of 1.05. LyondellBasell Industries N.V. has a 52-week low of $41.58 and a 52-week high of $83.94.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last released its earnings results on Friday, July 31st. The specialty chemicals company reported $4.30 earnings per share for the quarter, beating analysts' consensus estimates of $3.44 by $0.86. The company had revenue of $9.18 billion during the quarter, compared to analyst estimates of $9.21 billion. LyondellBasell Industries had a positive return on equity of 17.44% and a negative net margin of 1.13%. LyondellBasell Industries's revenue for the quarter was up 19.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.62 EPS. On average, research analysts predict that LyondellBasell Industries N.V. will post 9.17 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 24th were given a $0.69 dividend. The ex-dividend date was Monday, August 24th. This represents a $2.76 annualized dividend and a yield of 4.3%. LyondellBasell Industries's payout ratio is presently -244.25%.

Wall Street Analysts Forecast Growth

LYB has been the topic of a number of research reports. Mizuho raised their price target on LyondellBasell Industries from $62.00 to $66.00 and gave the company a "neutral" rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. raised LyondellBasell Industries from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $75.00 to $80.00 in a report on Monday, August 3rd. UBS Group dropped their target price on LyondellBasell Industries from $64.00 to $62.00 and set a "neutral" rating for the company in a research report on Friday, September 25th. KeyCorp began coverage on shares of LyondellBasell Industries in a research report on Thursday, September 10th. They set a "sector weight" rating on the stock. Finally, Citigroup reissued a "neutral" rating and set a $63.00 price target (down from $72.00) on shares of LyondellBasell Industries in a research note on Wednesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, LyondellBasell Industries has an average rating of "Hold" and a consensus price target of $71.50.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. is a global chemical company that produces materials used across a wide range of industrial and consumer applications. Its portfolio includes olefins and polyolefins, such as polyethylene and polypropylene, as well as propylene oxide, oxyfuels, solvents, and other chemical intermediates.

The company's products are used in packaging, healthcare, automotive components, construction materials, agriculture, home furnishings, and consumer goods. LyondellBasell also develops advanced polymer compounds and participates in recycling and circular-economy initiatives designed to increase the reuse of plastic materials.

LyondellBasell serves customers in markets throughout North America, Europe, Asia, and other international regions through manufacturing facilities, research operations, and commercial activities around the world.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.