Janney Montgomery Scott LLC Boosts Position in LyondellBasell Industries N.V. $LYB

Janney Montgomery Scott LLC raised its position in LyondellBasell Industries N.V. (NYSE:LYB) by 50.3% during the 2nd quarter, Holdings Channel reports. The firm owned 76,504 shares of the specialty chemicals company’s stock after acquiring an additional 25,618 shares during the quarter. Janney Montgomery Scott LLC’s holdings in LyondellBasell Industries were worth $4,028,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Clearstead Advisors LLC boosted its position in shares of LyondellBasell Industries by 140.3% in the 4th quarter. Clearstead Advisors LLC now owns 668 shares of the specialty chemicals company’s stock worth $29,000 after buying an additional 390 shares in the last quarter. Quarry LP acquired a new stake in LyondellBasell Industries in the 3rd quarter valued at about $31,000. Key Capital Management INC purchased a new position in LyondellBasell Industries during the 4th quarter valued at about $34,000. Fideuram Asset Management Ireland dac purchased a new position in LyondellBasell Industries during the 4th quarter valued at about $34,000. Finally, Harbour Investments Inc. raised its position in LyondellBasell Industries by 74.7% during the fourth quarter. Harbour Investments Inc. now owns 884 shares of the specialty chemicals company’s stock worth $38,000 after acquiring an additional 378 shares during the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on LYB. Wall Street Zen raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Wells Fargo & Company raised shares of LyondellBasell Industries from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $80.00 to $98.00 in a research note on Thursday, May 28th. Morgan Stanley reduced their target price on LyondellBasell Industries from $77.00 to $72.00 and set an “overweight” rating on the stock in a research note on Monday, July 20th. Weiss Ratings upgraded LyondellBasell Industries from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, August 3rd. Finally, Royal Bank Of Canada raised their price target 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 issued a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, LyondellBasell Industries has an average rating of “Hold” and a consensus target price of $72.56.

LyondellBasell Industries Stock Performance

NYSE:LYB opened at $63.76 on Friday. The company has a market cap of $20.60 billion, a P/E ratio of -56.42, a P/E/G ratio of 0.17 and a beta of 0.31. The firm’s 50 day moving average is $59.37 and its two-hundred day moving average is $64.55. LyondellBasell Industries N.V. has a fifty-two week low of $41.58 and a fifty-two week high of $83.94. 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) last announced its quarterly earnings data on Friday, July 31st. The specialty chemicals company reported $4.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.44 by $0.86. The company had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $9.21 billion. LyondellBasell Industries had a negative net margin of 1.13% and a positive return on equity of 17.44%. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.62 EPS. Analysts expect that LyondellBasell Industries N.V. will post 9.39 EPS for the current year.

LyondellBasell Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Monday, August 24th. LyondellBasell Industries’s payout ratio is -244.25%.

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.