The Manufacturers Life Insurance Company Sells 152,393 Shares of LyondellBasell Industries N.V. $LYB

The Manufacturers Life Insurance Company cut its position in LyondellBasell Industries N.V. (NYSE:LYB) by 20.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 600,548 shares of the specialty chemicals company’s stock after selling 152,393 shares during the period. The Manufacturers Life Insurance Company’s holdings in LyondellBasell Industries were worth $48,380,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in LYB. Clearstead Advisors LLC raised its holdings in 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 acquiring an additional 390 shares during the last quarter. ORG Partners LLC lifted its position in LyondellBasell Industries by 960.0% in the 4th quarter. ORG Partners LLC now owns 689 shares of the specialty chemicals company’s stock valued at $30,000 after acquiring an additional 624 shares in the last quarter. Quarry LP purchased a new stake in LyondellBasell Industries during the 3rd quarter valued at $31,000. Key Capital Management INC bought a new stake in shares of LyondellBasell Industries in the 4th quarter worth $34,000. Finally, Fideuram Asset Management Ireland dac bought a new stake in shares of LyondellBasell Industries in the 4th quarter worth $34,000. Hedge funds and other institutional investors own 71.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on LYB shares. Royal Bank Of Canada lowered their price target on LyondellBasell Industries from $94.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, July 1st. Evercore lifted their price objective on LyondellBasell Industries from $70.00 to $73.00 in a report on Thursday, May 14th. Citigroup lowered their target price on shares of LyondellBasell Industries from $80.00 to $67.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Jefferies Financial Group raised their price target on shares of LyondellBasell Industries from $70.00 to $75.00 and gave the company a “hold” rating in a report on Thursday, April 16th. Finally, Zacks Research lowered shares of LyondellBasell Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $71.94.

LyondellBasell Industries Trading Down 0.1%

LyondellBasell Industries stock opened at $60.43 on Friday. 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 cap of $19.51 billion, a P/E ratio of -24.27, a P/E/G ratio of 0.20 and a beta of 0.32. The company has a quick ratio of 1.03, a current ratio of 1.54 and a debt-to-equity ratio of 1.12. The business has a 50-day simple moving average of $60.64 and a two-hundred day simple moving average of $63.78.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Friday, May 1st. The specialty chemicals company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.18. The firm had revenue of $7.20 billion for the quarter, compared to analysts’ expectations of $7.53 billion. LyondellBasell Industries had a negative net margin of 2.68% and a positive return on equity of 5.68%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.33 EPS. Analysts predict that LyondellBasell Industries N.V. will post 8.57 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Monday, June 1st were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend was Monday, June 1st. LyondellBasell Industries’s dividend payout ratio is currently -110.84%.

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.