LyondellBasell Industries (NYSE:LYB) Position Reduced by abrdn plc

abrdn plc reduced its holdings in LyondellBasell Industries (NYSE:LYB - Free Report) by 23.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,249 shares of the specialty chemicals company's stock after selling 23,388 shares during the quarter. abrdn plc's holdings in LyondellBasell Industries were worth $7,390,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of LYB. Capital World Investors lifted its stake in shares of LyondellBasell Industries by 28.9% in the first quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company's stock valued at $273,671,000 after purchasing an additional 600,554 shares during the period. Ilex Capital Partners UK LLP acquired a new position in LyondellBasell Industries during the first quarter worth $61,327,000. Pacer Advisors Inc. boosted its position in LyondellBasell Industries by 13.6% during the second quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company's stock worth $461,930,000 after purchasing an additional 579,300 shares in the last quarter. Ensign Peak Advisors Inc grew its holdings in LyondellBasell Industries by 80.7% in the second quarter. Ensign Peak Advisors Inc now owns 779,040 shares of the specialty chemicals company's stock valued at $74,523,000 after purchasing an additional 347,877 shares during the last quarter. Finally, WINTON GROUP Ltd purchased a new position in shares of LyondellBasell Industries in the second quarter valued at $17,683,000. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LYB has been the subject of several recent research reports. Wells Fargo & Company dropped their target price on shares of LyondellBasell Industries from $117.00 to $110.00 and set an "overweight" rating for the company in a report on Monday, August 5th. Barclays dropped their price target on LyondellBasell Industries from $101.00 to $99.00 and set an "equal weight" rating for the company in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft lifted their price objective on LyondellBasell Industries from $105.00 to $110.00 and gave the stock a "hold" rating in a research report on Tuesday, August 6th. Royal Bank of Canada reduced their price objective on shares of LyondellBasell Industries from $112.00 to $110.00 and set an "outperform" rating on the stock in a research note on Friday, October 11th. Finally, JPMorgan Chase & Co. lowered their price objective on LyondellBasell Industries from $113.00 to $110.00 and set an "overweight" rating for the company in a research report on Friday, September 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $106.33.

LyondellBasell Industries Stock Down 0.3 %

LyondellBasell Industries stock traded down $0.29 during trading on Friday, reaching $86.56. 2,468,922 shares of the company's stock were exchanged, compared to its average volume of 1,844,423. The company's 50-day moving average is $93.56 and its two-hundred day moving average is $95.99. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.28 and a current ratio of 2.10. LyondellBasell Industries has a 52-week low of $85.64 and a 52-week high of $107.02. The firm has a market cap of $28.14 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 1.64 and a beta of 1.08.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last posted its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing analysts' consensus estimates of $2.03 by ($0.15). The firm had revenue of $10.33 billion for the quarter, compared to analyst estimates of $10.60 billion. LyondellBasell Industries had a return on equity of 18.63% and a net margin of 5.68%. The company's revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.46 earnings per share. On average, analysts predict that LyondellBasell Industries will post 7.53 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 26th were given a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a dividend yield of 6.19%. The ex-dividend date was Monday, August 26th. LyondellBasell Industries's dividend payout ratio is presently 75.39%.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. operates as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.