abrdn plc Has $7.39 Million Position in LyondellBasell Industries (NYSE:LYB)

abrdn plc lessened its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 23.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 77,249 shares of the specialty chemicals company’s stock after selling 23,388 shares during the period. abrdn plc’s holdings in LyondellBasell Industries were worth $7,390,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in LYB. State Board of Administration of Florida Retirement System grew its stake in shares of LyondellBasell Industries by 8.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 282,374 shares of the specialty chemicals company’s stock worth $26,512,000 after acquiring an additional 21,809 shares during the last quarter. Banco Santander S.A. acquired a new stake in LyondellBasell Industries in the 1st quarter worth $3,607,000. Foresight Capital Management Advisors Inc. bought a new position in shares of LyondellBasell Industries during the 2nd quarter worth about $1,416,000. PGGM Investments raised its position in shares of LyondellBasell Industries by 47.9% during the second quarter. PGGM Investments now owns 22,148 shares of the specialty chemicals company’s stock valued at $2,119,000 after buying an additional 7,168 shares during the last quarter. Finally, 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 buying an additional 600,554 shares during the period. Institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Trading Down 0.3 %

Shares of LYB stock opened at $86.56 on Friday. The company has a market capitalization of $28.14 billion, a P/E ratio of 12.17, a P/E/G ratio of 1.64 and a beta of 1.08. LyondellBasell Industries has a 12-month low of $85.64 and a 12-month high of $107.02. The company has a quick ratio of 1.28, a current ratio of 2.10 and a debt-to-equity ratio of 0.82. The firm has a 50-day moving average price of $93.56 and a 200 day moving average price of $96.01.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing the consensus estimate of $2.03 by ($0.15). LyondellBasell Industries had a return on equity of 18.63% and a net margin of 5.68%. The business had revenue of $10.33 billion during the quarter, compared to analyst estimates of $10.60 billion. During the same period in the previous year, the firm earned $2.46 earnings per share. The firm’s revenue was down 2.8% compared to the same quarter last year. Research analysts forecast that LyondellBasell Industries will post 7.53 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

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

Analyst Ratings Changes

Several equities analysts recently issued reports on LYB shares. JPMorgan Chase & Co. lowered their price target on LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th. Wells Fargo & Company cut their target price on LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of LyondellBasell Industries from $105.00 to $110.00 and gave the stock a “hold” rating in a research note on Tuesday, August 6th. Royal Bank of Canada dropped their price objective on shares of LyondellBasell Industries from $112.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, October 11th. Finally, UBS Group decreased their target price on shares of LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $106.33.

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.