Nissay Asset Management Corp Japan Acquires Shares of 35,032 LyondellBasell Industries N.V. $LYB

Nissay Asset Management Corp Japan bought a new position in shares of LyondellBasell Industries N.V. (NYSE:LYB) in the second quarter, Holdings Channel reports. The firm bought 35,032 shares of the specialty chemicals company’s stock, valued at approximately $1,844,000.

Several other institutional investors and hedge funds also recently made changes to their positions in LYB. BlackRock Inc. lifted its stake in shares of LyondellBasell Industries by 16.7% in 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 purchasing an additional 4,185,571 shares during the period. State Street Corp grew its stake in shares of LyondellBasell Industries by 2.7% during the fourth quarter. State Street Corp now owns 13,544,711 shares of the specialty chemicals company’s stock worth $586,486,000 after purchasing an additional 361,761 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of LyondellBasell Industries by 4.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,102,068 shares of the specialty chemicals company’s stock worth $437,420,000 after purchasing an additional 399,130 shares during the period. Capital World Investors increased its holdings in LyondellBasell Industries by 0.4% in the fourth quarter. Capital World Investors now owns 9,843,930 shares of the specialty chemicals company’s stock valued at $426,242,000 after purchasing an additional 36,187 shares during the last quarter. Finally, Capital Research Global Investors lifted its stake in LyondellBasell Industries by 108.7% in the fourth quarter. Capital Research Global Investors now owns 9,159,702 shares of the specialty chemicals company’s stock valued at $396,615,000 after buying an additional 4,770,260 shares during the period. Institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Stock Down 0.1%

NYSE:LYB opened at $65.00 on Wednesday. LyondellBasell Industries N.V. has a 1 year low of $41.58 and a 1 year high of $83.94. The stock has a 50-day moving average price of $60.07 and a two-hundred day moving average price of $65.62. The stock has a market cap of $21.00 billion, a price-to-earnings ratio of -57.52, a PEG ratio of 0.18 and a beta of 0.31. The company has a current ratio of 1.64, a quick ratio of 1.07 and a debt-to-equity ratio of 1.05.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, July 31st. The specialty chemicals company reported $4.30 EPS for the quarter, topping analysts’ consensus estimates of $3.44 by $0.86. LyondellBasell Industries had a positive return on equity of 17.44% and a negative net margin of 1.13%.The company had revenue of $9.18 billion for the quarter, compared to analyst estimates of $9.21 billion. During the same quarter last year, the firm posted $0.62 earnings per share. LyondellBasell Industries’s revenue was up 19.8% compared to the same quarter last year. As a group, equities analysts expect that LyondellBasell Industries N.V. will post 9.2 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 24th were paid a $0.69 dividend. 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 4.2%. LyondellBasell Industries’s payout ratio is presently -244.25%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LYB. Alembic Global Advisors reduced their target price on LyondellBasell Industries from $95.00 to $83.00 and set an “overweight” rating on the stock in a report on Thursday, July 2nd. UBS Group upped their price target on LyondellBasell Industries from $56.00 to $64.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. Citigroup cut their price target on shares of LyondellBasell Industries from $80.00 to $67.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. Wall Street Zen raised shares of LyondellBasell Industries from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 22nd. Finally, Weiss Ratings cut shares of LyondellBasell Industries from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $72.56.

LyondellBasell Industries Company 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.