abrdn plc Boosts Stock Holdings in LyondellBasell Industries (NYSE:LYB)

abrdn plc raised its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 59.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 141,657 shares of the specialty chemicals company’s stock after buying an additional 52,954 shares during the period. abrdn plc’s holdings in LyondellBasell Industries were worth $13,469,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. FMR LLC raised its stake in shares of LyondellBasell Industries by 10.3% during the third quarter. FMR LLC now owns 8,408,551 shares of the specialty chemicals company’s stock valued at $796,290,000 after acquiring an additional 787,221 shares during the last quarter. Morgan Stanley raised its stake in shares of LyondellBasell Industries by 9.9% during the third quarter. Morgan Stanley now owns 6,305,596 shares of the specialty chemicals company’s stock valued at $597,140,000 after acquiring an additional 569,887 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of LyondellBasell Industries by 4.0% during the third quarter. Federated Hermes Inc. now owns 5,667,924 shares of the specialty chemicals company’s stock valued at $536,752,000 after acquiring an additional 217,461 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of LyondellBasell Industries by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,650,680 shares of the specialty chemicals company’s stock valued at $535,119,000 after acquiring an additional 143,542 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of LyondellBasell Industries by 24.9% during the third quarter. Invesco Ltd. now owns 4,085,474 shares of the specialty chemicals company’s stock valued at $386,894,000 after acquiring an additional 815,083 shares during the last quarter. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

LyondellBasell Industries Price Performance

Shares of LYB opened at $99.68 on Friday. The firm’s 50-day simple moving average is $100.78 and its two-hundred day simple moving average is $96.41. LyondellBasell Industries has a fifty-two week low of $84.80 and a fifty-two week high of $106.69. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.17 and a current ratio of 1.84. The stock has a market cap of $32.44 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 1.24 and a beta of 1.19.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, February 2nd. The specialty chemicals company reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.07). LyondellBasell Industries had a net margin of 5.16% and a return on equity of 21.89%. The firm had revenue of $9.93 billion for the quarter, compared to analysts’ expectations of $9.85 billion. During the same quarter in the previous year, the company earned $1.29 EPS. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. Analysts anticipate that LyondellBasell Industries will post 8.63 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Monday, March 4th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 5.02%. The ex-dividend date of this dividend was Friday, March 1st. LyondellBasell Industries’s dividend payout ratio is currently 77.28%.

Insider Buying and Selling

In related news, EVP Kenneth Todd Lane sold 9,489 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $98.92, for a total value of $938,651.88. Following the sale, the executive vice president now owns 89,445 shares in the company, valued at $8,847,899.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Chukwuemeka A. Oyolu sold 7,084 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $100.47, for a total value of $711,729.48. Following the sale, the chief accounting officer now owns 27,575 shares in the company, valued at $2,770,460.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kenneth Todd Lane sold 9,489 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $98.92, for a total transaction of $938,651.88. Following the completion of the sale, the executive vice president now owns 89,445 shares in the company, valued at approximately $8,847,899.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,853 shares of company stock worth $8,077,267. 0.11% of the stock is owned by insiders.

Analysts Set New Price Targets

LYB has been the subject of several recent analyst reports. Wells Fargo & Company upped their price objective on shares of LyondellBasell Industries from $105.00 to $117.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Barclays increased their price target on shares of LyondellBasell Industries from $98.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 4th. Vertical Research raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, January 3rd. JPMorgan Chase & Co. increased their price target on shares of LyondellBasell Industries from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, March 22nd. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $105.00 price target for the company. in a research note on Wednesday, January 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $103.82.

LyondellBasell Industries 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.