SummitTX Capital L.P. acquired a new stake in LyondellBasell Industries N.V. (NYSE:LYB – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 19,625 shares of the specialty chemicals company’s stock, valued at approximately $1,581,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Gateway Wealth Partners LLC acquired a new stake in shares of LyondellBasell Industries in the first quarter valued at about $319,000. Weiss Asset Management LP boosted its position in LyondellBasell Industries by 37.0% during the first quarter. Weiss Asset Management LP now owns 63,600 shares of the specialty chemicals company’s stock worth $5,124,000 after acquiring an additional 17,179 shares during the last quarter. OMERS ADMINISTRATION Corp grew its stake in LyondellBasell Industries by 25.2% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 12,744 shares of the specialty chemicals company’s stock valued at $1,027,000 after acquiring an additional 2,563 shares in the last quarter. Lombard Odier Asset Management Switzerland SA acquired a new stake in LyondellBasell Industries in the 1st quarter valued at about $201,000. Finally, Aristotle Atlantic Partners LLC acquired a new stake in LyondellBasell Industries in the 1st quarter valued at about $483,000. Institutional investors and hedge funds own 71.20% of the company’s stock.
LyondellBasell Industries Trading Up 3.9%
LYB opened at $60.50 on Thursday. LyondellBasell Industries N.V. has a one year low of $41.58 and a one year high of $83.94. The stock has a market capitalization of $19.53 billion, a PE ratio of -24.30, a P/E/G ratio of 0.19 and a beta of 0.32. The business’s 50 day moving average price is $60.83 and its 200 day moving average price is $63.69. 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 Dividend Announcement
The firm 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 dividend yield of 4.6%. The ex-dividend date of this dividend was Monday, June 1st. LyondellBasell Industries’s dividend payout ratio (DPR) is presently -110.84%.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on LYB. Evercore upped their price target on LyondellBasell Industries from $70.00 to $73.00 in a research report on Thursday, May 14th. Zacks Research lowered LyondellBasell Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 1st. UBS Group dropped their target price on LyondellBasell Industries from $82.00 to $73.00 and set a “neutral” rating for the company in a report on Friday, June 5th. Wolfe Research lifted their price target on LyondellBasell Industries from $38.00 to $62.00 and gave the stock an “underperform” rating in a report on Tuesday, April 14th. Finally, JPMorgan Chase & Co. boosted their price target on shares of LyondellBasell Industries from $50.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, LyondellBasell Industries currently has an average rating of “Hold” and a consensus target price of $71.94.
Get Our Latest Analysis on LyondellBasell Industries
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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