State of Michigan Retirement System Purchases New Stake in LyondellBasell Industries N.V. $LYB

State of Michigan Retirement System purchased a new stake in shares of LyondellBasell Industries N.V. (NYSE:LYB) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 73,965 shares of the specialty chemicals company’s stock, valued at approximately $5,959,000.

Several other institutional investors also recently bought and sold shares of LYB. Principal Financial Group Inc. lifted its holdings in shares of LyondellBasell Industries by 1.0% during the 1st quarter. Principal Financial Group Inc. now owns 286,812 shares of the specialty chemicals company’s stock valued at $23,106,000 after acquiring an additional 2,725 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new stake in LyondellBasell Industries in the 1st quarter valued at $608,000. Applied Finance Capital Management LLC increased its holdings in LyondellBasell Industries by 19.5% in the 1st quarter. Applied Finance Capital Management LLC now owns 25,947 shares of the specialty chemicals company’s stock valued at $2,090,000 after purchasing an additional 4,240 shares in the last quarter. Procyon Advisors LLC purchased a new position in LyondellBasell Industries in the first quarter valued at about $637,000. Finally, Castleview Partners LLC raised its position in LyondellBasell Industries by 34.9% in the first quarter. Castleview Partners LLC now owns 6,980 shares of the specialty chemicals company’s stock valued at $562,000 after purchasing an additional 1,806 shares during the period. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

LyondellBasell Industries Trading Down 0.4%

Shares of LYB opened at $57.79 on Friday. LyondellBasell Industries N.V. has a one year low of $41.58 and a one year high of $83.94. The stock has a 50-day moving average price of $63.17 and a 200 day moving average price of $62.70. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.03 and a current ratio of 1.54. The company has a market capitalization of $18.66 billion, a P/E ratio of -23.21, a P/E/G ratio of 0.18 and a beta of 0.32.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, May 1st. The specialty chemicals company reported $0.49 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $7.53 billion. During the same period in the previous year, the business earned $0.33 EPS. LyondellBasell Industries’s revenue for the quarter was down 6.3% compared to the same quarter last year. Sell-side analysts forecast that LyondellBasell Industries N.V. will post 9.07 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Monday, June 1st were given a dividend of $0.69 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 4.8%. LyondellBasell Industries’s dividend payout ratio (DPR) is presently -110.84%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. BMO Capital Markets lowered their target price on LyondellBasell Industries from $88.00 to $64.00 and set a “market perform” rating for the company in a research note on Monday, July 6th. Morgan Stanley boosted their price target on LyondellBasell Industries from $52.00 to $77.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 21st. Wells Fargo & Company upgraded LyondellBasell Industries from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $80.00 to $98.00 in a report on Thursday, May 28th. Jefferies Financial Group lifted their price objective 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, Bank of America reduced their target price on shares of LyondellBasell Industries from $68.00 to $48.00 and set an “underperform” rating on the stock in a research report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, LyondellBasell Industries presently has a consensus rating of “Hold” and an average price target of $72.22.

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.