OLD National Bancorp IN Cuts Holdings in LyondellBasell Industries N.V. $LYB

OLD National Bancorp IN lessened its position in shares of LyondellBasell Industries N.V. (NYSE:LYB) by 73.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,350 shares of the specialty chemicals company’s stock after selling 31,950 shares during the period. OLD National Bancorp IN’s holdings in LyondellBasell Industries were worth $914,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital World Investors boosted its position in LyondellBasell Industries by 13.1% during the 3rd quarter. Capital World Investors now owns 9,807,743 shares of the specialty chemicals company’s stock worth $480,972,000 after purchasing an additional 1,135,258 shares during the period. Bruce & Co. Inc. raised its position in LyondellBasell Industries by 50.0% in the third quarter. Bruce & Co. Inc. now owns 60,000 shares of the specialty chemicals company’s stock valued at $2,942,000 after purchasing an additional 20,000 shares during the period. TD Asset Management Inc lifted its stake in shares of LyondellBasell Industries by 12.8% during the third quarter. TD Asset Management Inc now owns 286,067 shares of the specialty chemicals company’s stock worth $14,029,000 after purchasing an additional 32,401 shares in the last quarter. Barclays PLC lifted its stake in shares of LyondellBasell Industries by 3.5% during the third quarter. Barclays PLC now owns 1,006,356 shares of the specialty chemicals company’s stock worth $49,352,000 after purchasing an additional 33,873 shares in the last quarter. Finally, Capital International Inc. CA boosted its position in shares of LyondellBasell Industries by 29.2% in the third quarter. Capital International Inc. CA now owns 69,146 shares of the specialty chemicals company’s stock worth $3,391,000 after buying an additional 15,644 shares during the period. 71.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LYB has been the topic of several analyst reports. Evercore raised their target price on LyondellBasell Industries from $70.00 to $73.00 in a report on Thursday, May 14th. BMO Capital Markets increased their price objective on shares of LyondellBasell Industries from $82.00 to $88.00 and gave the company a “market perform” rating in a research report on Tuesday, May 5th. Royal Bank Of Canada lifted their price objective on shares of LyondellBasell Industries from $91.00 to $94.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Jefferies Financial Group upped their target price on shares of LyondellBasell Industries from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Thursday, April 16th. Finally, The Goldman Sachs Group raised their price target on shares of LyondellBasell Industries from $51.00 to $75.00 and gave the company a “sell” rating in a report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $75.94.

LyondellBasell Industries Price Performance

LYB stock opened at $55.67 on Friday. The stock’s 50 day moving average is $67.85 and its two-hundred day moving average is $61.41. LyondellBasell Industries N.V. has a 52-week low of $41.58 and a 52-week high of $83.94. The company has a market capitalization of $17.97 billion, a PE ratio of -22.36, a P/E/G ratio of 0.12 and a beta of 0.28. The company has a quick ratio of 1.03, a current ratio of 1.54 and a debt-to-equity ratio of 1.12.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.31 by $0.18. LyondellBasell Industries had a positive return on equity of 5.68% and a negative net margin of 2.68%.The company had revenue of $7.20 billion during the quarter, compared to analysts’ expectations of $7.53 billion. During the same period in the prior year, the business posted $0.33 EPS. The business’s revenue was down 6.3% on a year-over-year basis. Analysts predict that LyondellBasell Industries N.V. will post 9.22 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Monday, June 1st were paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Monday, June 1st. LyondellBasell Industries’s dividend payout ratio is -110.84%.

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.