Van ECK Associates Corp Acquires 22,062 Shares of LyondellBasell Industries N.V. $LYB

Van ECK Associates Corp lifted its holdings in LyondellBasell Industries N.V. (NYSE:LYB) by 173.2% during the second quarter, HoldingsChannel.com reports. The firm owned 34,797 shares of the specialty chemicals company’s stock after purchasing an additional 22,062 shares during the period. Van ECK Associates Corp’s holdings in LyondellBasell Industries were worth $1,832,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Woodline Partners LP increased its stake in LyondellBasell Industries by 40.4% in the 1st quarter. Woodline Partners LP now owns 21,899 shares of the specialty chemicals company’s stock valued at $1,542,000 after buying an additional 6,297 shares during the last quarter. Focus Partners Wealth raised its holdings in LyondellBasell Industries by 35.4% during the first quarter. Focus Partners Wealth now owns 6,866 shares of the specialty chemicals company’s stock worth $483,000 after acquiring an additional 1,796 shares in the last quarter. Baird Financial Group Inc. boosted its position in LyondellBasell Industries by 69.5% during the second quarter. Baird Financial Group Inc. now owns 29,488 shares of the specialty chemicals company’s stock valued at $1,706,000 after purchasing an additional 12,087 shares during the last quarter. Cerity Partners LLC grew its stake in LyondellBasell Industries by 13.9% in the second quarter. Cerity Partners LLC now owns 49,348 shares of the specialty chemicals company’s stock valued at $2,855,000 after purchasing an additional 6,032 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its position in shares of LyondellBasell Industries by 9.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 41,416 shares of the specialty chemicals company’s stock worth $2,397,000 after purchasing an additional 3,715 shares during the last quarter. Institutional investors own 71.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on LYB shares. BMO Capital Markets increased their price objective on LyondellBasell Industries from $64.00 to $68.00 and gave the company a “market perform” rating in a report on Monday, August 3rd. JPMorgan Chase & Co. raised shares of LyondellBasell Industries from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $75.00 to $80.00 in a research report on Monday, August 3rd. Evercore increased their price target on shares of LyondellBasell Industries from $70.00 to $73.00 in a research note on Thursday, May 14th. Citigroup decreased their price objective on shares of LyondellBasell Industries from $80.00 to $67.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. Finally, Alembic Global Advisors dropped their target price on shares of LyondellBasell Industries from $95.00 to $83.00 and set an “overweight” rating on the stock in a report on Thursday, July 2nd. 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 data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $72.56.

LyondellBasell Industries Stock Down 1.8%

LYB opened at $63.62 on Friday. The company has a current ratio of 1.64, a quick ratio of 1.07 and a debt-to-equity ratio of 1.05. The stock’s fifty day simple moving average is $60.62 and its 200 day simple moving average is $65.71. LyondellBasell Industries N.V. has a 1-year low of $41.58 and a 1-year high of $83.94. The stock has a market cap of $20.55 billion, a PE ratio of -56.30, a price-to-earnings-growth ratio of 0.18 and a beta of 0.31.

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

LyondellBasell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 24th were issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Monday, August 24th. LyondellBasell Industries’s dividend payout ratio is currently -244.25%.

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.