State of Alaska Department of Revenue Purchases 55,180 Shares of LyondellBasell Industries N.V. $LYB

State of Alaska Department of Revenue raised its position in shares of LyondellBasell Industries N.V. (NYSE:LYB) by 115.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 102,849 shares of the specialty chemicals company’s stock after purchasing an additional 55,180 shares during the quarter. State of Alaska Department of Revenue’s holdings in LyondellBasell Industries were worth $5,909,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of LyondellBasell Industries by 16.7% during the second quarter. BlackRock Inc. now owns 29,298,859 shares of the specialty chemicals company’s stock valued at $1,542,585,000 after acquiring an additional 4,185,571 shares during the last quarter. State Street Corp grew its stake in shares of LyondellBasell Industries by 9.1% in the second quarter. State Street Corp now owns 14,734,948 shares of the specialty chemicals company’s stock worth $775,795,000 after purchasing an additional 1,225,833 shares during the last quarter. Royal Bank of Canada grew its stake in shares of LyondellBasell Industries by 23.0% in the first quarter. Royal Bank of Canada now owns 3,534,647 shares of the specialty chemicals company’s stock worth $284,750,000 after purchasing an additional 660,340 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in LyondellBasell Industries by 16.6% during the 1st quarter. Bank of New York Mellon Corp now owns 1,848,621 shares of the specialty chemicals company’s stock valued at $148,925,000 after purchasing an additional 262,979 shares during the period. Finally, Bank of America Corp DE increased its holdings in LyondellBasell Industries by 46.7% during the 1st quarter. Bank of America Corp DE now owns 1,547,735 shares of the specialty chemicals company’s stock valued at $124,686,000 after purchasing an additional 492,753 shares during the period. Institutional investors own 71.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on LYB shares. Morgan Stanley lowered their price target on LyondellBasell Industries from $77.00 to $72.00 and set an “overweight” rating for the company in a research report on Monday, July 20th. JPMorgan Chase & Co. raised LyondellBasell Industries from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $75.00 to $80.00 in a research note on Monday, August 3rd. KeyCorp started coverage on LyondellBasell Industries in a report on Thursday, September 10th. They set a “sector weight” rating for the company. Weiss Ratings downgraded LyondellBasell Industries from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, August 26th. Finally, Bank of America dropped their price target on LyondellBasell Industries from $68.00 to $48.00 and set an “underperform” rating for the company in a research note on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $71.50.

LyondellBasell Industries Stock Up 2.1%

Shares of LYB traded up $1.33 on Friday, reaching $64.00. The stock had a trading volume of 3,858,681 shares, compared to its average volume of 3,549,879. The firm has a market capitalization of $20.67 billion, a price-to-earnings ratio of -56.64, a price-to-earnings-growth ratio of 0.16 and a beta of 0.30. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.07 and a current ratio of 1.64. The company has a 50-day simple moving average of $62.45 and a 200-day simple moving average of $64.73. LyondellBasell Industries N.V. has a 12-month low of $41.58 and a 12-month high of $83.94.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, July 31st. The specialty chemicals company reported $4.30 earnings per share for the quarter, beating the consensus estimate of $3.44 by $0.86. The company had revenue of $9.18 billion for the quarter, compared to analyst estimates of $9.21 billion. LyondellBasell Industries had a positive return on equity of 17.44% and a negative net margin of 1.13%. The firm’s revenue was up 19.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.62 earnings per share. Sell-side analysts predict that LyondellBasell Industries N.V. will post 9.17 EPS for the current year.

LyondellBasell Industries Announces Dividend

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

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. is a global chemical company that produces materials used across a wide range of industrial and consumer applications. Its portfolio includes olefins and polyolefins, such as polyethylene and polypropylene, as well as propylene oxide, oxyfuels, solvents, and other chemical intermediates.

The company’s products are used in packaging, healthcare, automotive components, construction materials, agriculture, home furnishings, and consumer goods. LyondellBasell also develops advanced polymer compounds and participates in recycling and circular-economy initiatives designed to increase the reuse of plastic materials.

LyondellBasell serves customers in markets throughout North America, Europe, Asia, and other international regions through manufacturing facilities, research operations, and commercial activities around the world.