Mitsubishi UFJ Asset Management Co. Ltd. Raises Stock Position in LyondellBasell Industries N.V. $LYB

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in LyondellBasell Industries N.V. (NYSE:LYB) by 9.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 634,322 shares of the specialty chemicals company’s stock after acquiring an additional 55,869 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.20% of LyondellBasell Industries worth $33,397,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Woodline Partners LP raised its holdings in LyondellBasell Industries by 40.4% during the first quarter. Woodline Partners LP now owns 21,899 shares of the specialty chemicals company’s stock worth $1,542,000 after purchasing an additional 6,297 shares in the last quarter. Focus Partners Wealth grew its holdings in shares of 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 purchasing an additional 1,796 shares during the last quarter. Baird Financial Group Inc. increased its position in shares of 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 worth $1,706,000 after purchasing an additional 12,087 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of LyondellBasell Industries by 13.9% in the 2nd 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 during the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in shares of LyondellBasell Industries by 9.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 41,416 shares of the specialty chemicals company’s stock valued at $2,397,000 after purchasing an additional 3,715 shares during the period. Institutional investors and hedge funds own 71.20% of the company’s stock.

LyondellBasell Industries Trading Up 3.3%

NYSE LYB opened at $68.23 on Friday. The company’s fifty day simple moving average is $59.53 and its 200-day simple moving average is $65.11. The stock has a market cap of $22.04 billion, a P/E ratio of -60.38, a PEG ratio of 0.18 and a beta of 0.31. LyondellBasell Industries N.V. has a 52 week low of $41.58 and a 52 week high of $83.94. The company has a current ratio of 1.64, a quick ratio of 1.07 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. LyondellBasell Industries had a positive return on equity of 17.44% and a negative net margin of 1.13%.The firm had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $9.21 billion. During the same quarter in the prior year, the firm posted $0.62 earnings per share. LyondellBasell Industries’s revenue for the quarter was up 19.8% compared to the same quarter last year. Equities research analysts predict that LyondellBasell Industries N.V. will post 9.39 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Monday, August 24th. LyondellBasell Industries’s dividend payout ratio is presently -244.25%.

Wall Street Analyst Weigh In

LYB has been the topic of several recent research reports. The Goldman Sachs Group boosted their price target on LyondellBasell Industries from $51.00 to $75.00 and gave the company a “sell” rating in a research report on Monday, May 4th. UBS Group boosted their target price on LyondellBasell Industries from $56.00 to $64.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Wall Street Zen upgraded LyondellBasell Industries from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Zacks Research lowered shares of LyondellBasell Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 1st. Finally, Wells Fargo & Company raised shares of LyondellBasell Industries from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $80.00 to $98.00 in a research note on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $72.56.

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.