Handelsbanken Fonder AB Purchases Shares of 54,000 LyondellBasell Industries N.V. $LYB

Handelsbanken Fonder AB purchased a new position in LyondellBasell Industries N.V. (NYSE:LYB) in the second quarter, HoldingsChannel.com reports. The firm purchased 54,000 shares of the specialty chemicals company’s stock, valued at approximately $2,843,000.

Other hedge funds also recently made changes to their positions in the company. Banque Cantonale Vaudoise bought a new stake in LyondellBasell Industries during the 1st quarter worth approximately $48,000. Quarry LP bought a new stake in shares of LyondellBasell Industries during the 3rd quarter valued at $31,000. Clearstead Advisors LLC raised its position in shares of LyondellBasell Industries by 140.3% during the 4th quarter. Clearstead Advisors LLC now owns 668 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 390 shares during the period. CYBER HORNET ETFs LLC purchased a new position in shares of LyondellBasell Industries during the 2nd quarter valued at $39,000. Finally, MUFG Securities EMEA plc bought a new position in LyondellBasell Industries in the 2nd quarter worth $44,000. 71.20% of the stock is currently owned by institutional investors.

LyondellBasell Industries Stock Down 0.0%

LYB opened at $63.76 on Monday. The company has a market capitalization of $20.60 billion, a PE ratio of -56.42, a price-to-earnings-growth ratio of 0.17 and a beta of 0.31. The firm has a 50-day simple moving average of $59.37 and a two-hundred day simple moving average of $64.65. The company has a quick ratio of 1.07, a current ratio of 1.64 and a debt-to-equity ratio of 1.05. LyondellBasell Industries N.V. has a 52 week low of $41.58 and a 52 week high of $83.94.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, July 31st. The specialty chemicals company reported $4.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.44 by $0.86. The firm had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $9.21 billion. LyondellBasell Industries had a positive return on equity of 17.44% and a negative net margin of 1.13%.The business’s revenue was up 19.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.62 earnings per share. Analysts forecast that LyondellBasell Industries N.V. will post 9.39 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be paid a $0.69 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a $2.76 dividend on an annualized basis and a yield of 4.3%. LyondellBasell Industries’s payout ratio is presently -244.25%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Zacks Research lowered LyondellBasell Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 1st. BMO Capital Markets boosted their price objective on LyondellBasell Industries from $64.00 to $68.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd. UBS Group increased their target price on LyondellBasell Industries from $56.00 to $64.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Citigroup lowered their price target on LyondellBasell Industries from $80.00 to $67.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. Finally, JPMorgan Chase & Co. upgraded LyondellBasell Industries from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $75.00 to $80.00 in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $72.56.

LyondellBasell Industries Company Profile

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.