State Street Corp Has $775.79 Million Stock Holdings in LyondellBasell Industries N.V. $LYB

Key Points

• State Street increased its LyondellBasell stake by 9.1% in the second quarter, holding 14.7 million shares valued at approximately $775.8 million, or 4.56% of the company. Institutional investors collectively own 71.2% of LYB.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $72.41; JPMorgan upgraded the stock to “overweight,” while Weiss Ratings downgraded it to “sell.”
• LyondellBasell reported quarterly EPS of $4.30, beating estimates of $3.44, while revenue rose 19.8% year over year to $9.18 billion. The company pays a quarterly dividend of $0.69 per share, representing a 4.6% annualized yield.

State Street Corp boosted its position in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 9.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,734,948 shares of the specialty chemicals company's stock after buying an additional 1,225,833 shares during the quarter. State Street Corp owned approximately 4.56% of LyondellBasell Industries worth $775,795,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Core Capital Management & Research inc. acquired a new stake in LyondellBasell Industries in the 2nd quarter valued at approximately $189,000. Sequoia Financial Advisors LLC boosted its stake in LyondellBasell Industries by 112.6% during the second quarter. Sequoia Financial Advisors LLC now owns 20,460 shares of the specialty chemicals company's stock worth $1,077,000 after buying an additional 10,837 shares in the last quarter. WINTON GROUP Ltd boosted its holdings in LyondellBasell Industries by 244.8% during the second quarter. WINTON GROUP Ltd now owns 134,133 shares of the specialty chemicals company's stock valued at $7,062,000 after purchasing an additional 95,236 shares in the last quarter. Engineers Gate Manager LP raised its holdings in shares of LyondellBasell Industries by 158.6% in the 2nd quarter. Engineers Gate Manager LP now owns 341,172 shares of the specialty chemicals company's stock worth $17,963,000 after buying an additional 209,255 shares in the last quarter. Finally, Cidel Asset Management Inc. lifted its holdings in shares of LyondellBasell Industries by 2.0% during the second quarter. Cidel Asset Management Inc. now owns 9,996 shares of the specialty chemicals company's stock valued at $526,000 after acquiring an additional 193 shares during the period. 71.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Mizuho lifted their target price on shares of LyondellBasell Industries from $62.00 to $66.00 and gave the company a "neutral" rating in a research note on Monday, August 3rd. Weiss Ratings lowered LyondellBasell Industries from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, August 26th. UBS Group boosted their price target on shares of LyondellBasell Industries from $56.00 to $64.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 4th. BMO Capital Markets increased their target price on LyondellBasell Industries from $64.00 to $68.00 and gave the company a "market perform" rating in a research note on Monday, August 3rd. Finally, JPMorgan Chase & Co. upgraded shares of LyondellBasell Industries from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $75.00 to $80.00 in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $72.41.

LyondellBasell Industries Trading Up 1.4%

NYSE:LYB opened at $60.06 on Thursday. The company has a market cap of $19.40 billion, a P/E ratio of -53.15, a price-to-earnings-growth ratio of 0.15 and a beta of 0.31. LyondellBasell Industries N.V. has a twelve month low of $41.58 and a twelve month high of $83.94. The business has a 50 day moving average price of $62.70 and a two-hundred day moving average price of $66.23. 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 (NYSE:LYB - Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The specialty chemicals company reported $4.30 EPS for the quarter, topping the consensus estimate of $3.44 by $0.86. LyondellBasell Industries had a negative net margin of 1.13% and a positive return on equity of 17.44%. The firm had revenue of $9.18 billion for the quarter, compared to analysts' expectations of $9.21 billion. During the same period in the previous year, the firm posted $0.62 EPS. The company's revenue for the quarter was up 19.8% on a year-over-year basis. As a group, analysts expect that LyondellBasell Industries N.V. will post 9.15 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 24th were given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend was Monday, August 24th. LyondellBasell Industries's dividend payout ratio is -244.25%.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. NYSE: LYB is a global chemical company that produces plastics, chemicals and refined products used in packaging, transportation, construction, healthcare, electronics and other consumer and industrial applications. Its portfolio includes polyethylene, polypropylene, propylene oxide, oxyfuels, acetyls and other intermediate chemicals, as well as advanced polymer compounds and solutions.

The company operates across the petrochemical value chain, converting hydrocarbon feedstocks into materials and specialty products.

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