The Manufacturers Life Insurance Company Sells 152,393 Shares of LyondellBasell Industries N.V. $LYB

Key Points

• The Manufacturers Life Insurance Company cut its LyondellBasell stake by 20.2% in the first quarter, selling 152,393 shares and retaining 600,548 shares worth approximately $48.4 million. Institutional investors collectively own 71.2% of LYB.
• Analyst sentiment is mixed but trends cautious: LYB has a consensus “Hold” rating and an average price target of $71.94, with several firms recently downgrading the stock or lowering targets.
• LyondellBasell reported quarterly EPS of $0.49, exceeding the $0.31 consensus estimate, while revenue fell 6.3% year over year to $7.20 billion. The company maintains a quarterly dividend of $0.69 per share, equivalent to a 4.6% annualized yield.

The Manufacturers Life Insurance Company lowered its holdings in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 20.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 600,548 shares of the specialty chemicals company's stock after selling 152,393 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.19% of LyondellBasell Industries worth $48,380,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Clearstead Advisors LLC increased its position in LyondellBasell Industries by 140.3% during the 4th quarter. Clearstead Advisors LLC now owns 668 shares of the specialty chemicals company's stock valued at $29,000 after purchasing an additional 390 shares during the period. ORG Partners LLC raised its holdings in LyondellBasell Industries by 960.0% in the 4th quarter. ORG Partners LLC now owns 689 shares of the specialty chemicals company's stock worth $30,000 after purchasing an additional 624 shares in the last quarter. Quarry LP bought a new stake in shares of LyondellBasell Industries during the 3rd quarter valued at about $31,000. Key Capital Management INC bought a new stake in shares of LyondellBasell Industries during the 4th quarter valued at about $34,000. Finally, Fideuram Asset Management Ireland dac purchased a new position in shares of LyondellBasell Industries during the fourth quarter valued at about $34,000. 71.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LYB. Weiss Ratings lowered shares of LyondellBasell Industries from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, June 24th. Mizuho reduced their target price on LyondellBasell Industries from $76.00 to $62.00 and set a "neutral" rating on the stock in a report on Wednesday, July 1st. Jefferies Financial Group increased their target price on LyondellBasell Industries from $70.00 to $75.00 and gave the stock a "hold" rating in a research report on Thursday, April 16th. Wall Street Zen cut LyondellBasell Industries from a "buy" rating to a "hold" rating in a research note on Monday, July 13th. Finally, Zacks Research lowered LyondellBasell Industries from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $71.94.

LyondellBasell Industries Price Performance

Shares of LYB opened at $60.43 on Friday. LyondellBasell Industries N.V. has a fifty-two week low of $41.58 and a fifty-two week high of $83.94. The firm's 50-day simple moving average is $60.64 and its two-hundred day simple moving average is $63.78. The stock has a market cap of $19.51 billion, a PE ratio of -24.27, a price-to-earnings-growth ratio of 0.20 and a beta of 0.32. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.03 and a current ratio of 1.54.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last released its earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $7.20 billion during the quarter, compared to analyst estimates of $7.53 billion. During the same period last year, the business earned $0.33 earnings per share. The business's revenue was down 6.3% on a year-over-year basis. Analysts anticipate that LyondellBasell Industries N.V. will post 8.57 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Monday, June 1st were given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend was Monday, June 1st. LyondellBasell Industries's dividend payout ratio (DPR) is -110.84%.

LyondellBasell Industries Profile

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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