Marco Investment Management LLC lifted its stake in shares of LyondellBasell Industries N.V. (NYSE:LYB – Free Report) by 10.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 190,709 shares of the specialty chemicals company’s stock after buying an additional 18,700 shares during the quarter. Marco Investment Management LLC’s holdings in LyondellBasell Industries were worth $10,041,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in LYB. Jamison Private Wealth Management Inc. raised its holdings in LyondellBasell Industries by 1.6% in the first quarter. Jamison Private Wealth Management Inc. now owns 10,915 shares of the specialty chemicals company’s stock valued at $879,000 after acquiring an additional 172 shares in the last quarter. Investment Research Partners LLC grew its holdings in LyondellBasell Industries by 4.4% during the 4th quarter. Investment Research Partners LLC now owns 5,100 shares of the specialty chemicals company’s stock worth $221,000 after acquiring an additional 214 shares in the last quarter. Ipsen Advisor Group LLC grew its holdings in LyondellBasell Industries by 2.4% during the 1st quarter. Ipsen Advisor Group LLC now owns 9,359 shares of the specialty chemicals company’s stock worth $754,000 after acquiring an additional 216 shares in the last quarter. Rothschild Investment LLC increased its position in shares of LyondellBasell Industries by 3.5% in the 4th quarter. Rothschild Investment LLC now owns 8,025 shares of the specialty chemicals company’s stock valued at $347,000 after purchasing an additional 272 shares during the last quarter. Finally, Moors & Cabot Inc. increased its position in shares of LyondellBasell Industries by 5.6% in the 3rd quarter. Moors & Cabot Inc. now owns 5,495 shares of the specialty chemicals company’s stock valued at $269,000 after purchasing an additional 293 shares during the last quarter. 71.20% of the stock is currently owned by hedge funds and other institutional investors.
LyondellBasell Industries Stock Up 2.2%
LYB stock opened at $63.76 on Friday. The stock has a market cap of $20.60 billion, a P/E ratio of -56.42, a PEG ratio of 0.17 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 N.V. has a twelve month low of $41.58 and a twelve month high of $83.94. The company’s 50 day moving average is $59.37 and its two-hundred day moving average is $64.55.
LyondellBasell Industries Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 4.3%. The ex-dividend date is Monday, August 24th. LyondellBasell Industries’s dividend payout ratio is currently -244.25%.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of LyondellBasell Industries from $75.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, May 5th. Citigroup dropped their target price on LyondellBasell Industries from $80.00 to $67.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. Bank of America cut their price target on LyondellBasell Industries from $68.00 to $48.00 and set an “underperform” rating on the stock in a research note on Tuesday, June 30th. Wells Fargo & Company raised LyondellBasell Industries from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $80.00 to $98.00 in a report on Thursday, May 28th. Finally, Royal Bank Of Canada upped their price objective on LyondellBasell Industries from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $72.56.
Read Our Latest Research Report on LyondellBasell Industries
About LyondellBasell Industries
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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