UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 1,774,494 Shares of LyondellBasell Industries N.V. $LYB

Key Points

• UBS Asset Management cut its LyondellBasell stake by 99.8% in the second quarter, selling 1,774,494 shares and retaining just 3,858 shares valued at approximately $203,000.
• Other major institutional investors increased their positions, including BlackRock, Capital Research Global Investors, AQR Capital Management and Morgan Stanley; institutions collectively own 71.2% of LYB shares.
• LyondellBasell reported quarterly EPS of $4.30, exceeding the $3.44 analyst consensus, while revenue reached $9.18 billion. The company maintains a $0.69 quarterly dividend, equal to a 4.3% annualized yield, and analysts have a consensus “Hold” rating with a $72.41 price target.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 99.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,858 shares of the specialty chemicals company's stock after selling 1,774,494 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC's holdings in LyondellBasell Industries were worth $203,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in LYB. Capital Research Global Investors boosted 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 worth $396,615,000 after purchasing an additional 4,770,260 shares during the period. BlackRock Inc. raised its holdings in LyondellBasell Industries by 16.7% during the 2nd quarter. BlackRock Inc. now owns 29,298,859 shares of the specialty chemicals company's stock valued at $1,542,585,000 after buying an additional 4,185,571 shares during the period. AQR Capital Management LLC lifted its position in LyondellBasell Industries by 512.9% in 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 buying an additional 2,588,636 shares during the last quarter. Morgan Stanley boosted its stake 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 worth $388,476,000 after buying an additional 1,300,271 shares during the period. Finally, Norges Bank bought a new position in LyondellBasell Industries during the fourth quarter valued at $52,210,000. 71.20% of the stock is owned by institutional investors.

LyondellBasell Industries Trading Up 0.0%

Shares of NYSE LYB opened at $63.72 on Monday. LyondellBasell Industries N.V. has a twelve month low of $41.58 and a twelve month high of $83.94. The firm has a market cap of $20.58 billion, a PE ratio of -56.38, a price-to-earnings-growth ratio of 0.17 and a beta of 0.31. The business has a fifty day simple moving average of $61.72 and a two-hundred day simple moving average of $66.05. 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 posted its quarterly earnings results on Friday, July 31st. The specialty chemicals company reported $4.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.44 by $0.86. The business had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $9.21 billion. LyondellBasell Industries had a positive return on equity of 17.44% and a negative net margin of 1.13%.The business's revenue was up 19.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.62 EPS. Analysts expect that LyondellBasell Industries N.V. will post 9.18 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Monday, August 24th. This represents a $2.76 dividend on an annualized basis and a yield of 4.3%. LyondellBasell Industries's dividend payout ratio (DPR) is -244.25%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on LYB shares. UBS Group lifted 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 raised their price objective on shares of LyondellBasell Industries from $64.00 to $68.00 and gave the stock a "market perform" rating in a research note on Monday, August 3rd. Royal Bank Of Canada boosted their target price on LyondellBasell Industries from $65.00 to $72.00 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. Bank of America reduced their price target on LyondellBasell Industries from $68.00 to $48.00 and set an "underperform" rating on the stock in a report on Tuesday, June 30th. Finally, Zacks Research lowered LyondellBasell Industries from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, LyondellBasell Industries currently has an average rating of "Hold" and a consensus target price of $72.41.

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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