Frank Rimerman Advisors LLC Takes $1.15 Million Position in LyondellBasell Industries N.V. $LYB

Frank Rimerman Advisors LLC acquired a new position in shares of LyondellBasell Industries N.V. (NYSE:LYB) in the first quarter, Holdings Channel reports. The institutional investor acquired 14,281 shares of the specialty chemicals company’s stock, valued at approximately $1,150,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. State Street Corp raised its stake in LyondellBasell Industries by 2.7% during the fourth quarter. State Street Corp now owns 13,544,711 shares of the specialty chemicals company’s stock worth $586,486,000 after buying an additional 361,761 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in LyondellBasell Industries by 4.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,102,068 shares of the specialty chemicals company’s stock valued at $437,420,000 after acquiring an additional 399,130 shares during the last quarter. Capital World Investors grew its holdings in LyondellBasell Industries by 0.4% during the 4th quarter. Capital World Investors now owns 9,843,930 shares of the specialty chemicals company’s stock worth $426,242,000 after acquiring an additional 36,187 shares during the period. Capital Research Global Investors grew its holdings in LyondellBasell Industries by 108.7% during the 4th quarter. Capital Research Global Investors now owns 9,159,702 shares of the specialty chemicals company’s stock worth $396,615,000 after acquiring an additional 4,770,260 shares during the period. Finally, Morgan Stanley raised its position in shares of LyondellBasell Industries by 16.9% in the 4th quarter. Morgan Stanley now owns 8,971,741 shares of the specialty chemicals company’s stock worth $388,476,000 after acquiring an additional 1,300,271 shares in the last quarter. 71.20% of the stock is owned by institutional investors and hedge funds.

LyondellBasell Industries Stock Down 0.7%

LyondellBasell Industries stock opened at $55.33 on Friday. The firm has a market capitalization of $17.86 billion, a price-to-earnings ratio of -22.22, a price-to-earnings-growth ratio of 0.18 and a beta of 0.32. The firm’s fifty day moving average price is $64.80 and its two-hundred day moving average price is $62.18. LyondellBasell Industries N.V. has a 1-year low of $41.58 and a 1-year high of $83.94. The company has a current ratio of 1.54, a quick ratio of 1.03 and a debt-to-equity ratio of 1.12.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.31 by $0.18. LyondellBasell Industries had a negative net margin of 2.68% and a positive return on equity of 5.68%. The company had revenue of $7.20 billion during the quarter, compared to the consensus estimate of $7.53 billion. During the same period in the previous year, the firm posted $0.33 earnings per share. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, equities research analysts predict that LyondellBasell Industries N.V. will post 8.84 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Monday, June 1st were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend was Monday, June 1st. LyondellBasell Industries’s payout ratio is currently -110.84%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Wells Fargo & Company raised LyondellBasell Industries from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $80.00 to $98.00 in a research note on Thursday, May 28th. Wall Street Zen raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a research report on Sunday, July 5th. BMO Capital Markets lowered their price objective on shares of LyondellBasell Industries from $88.00 to $64.00 and set a “market perform” rating for the company in a research note on Monday. JPMorgan Chase & Co. boosted their target price on shares of LyondellBasell Industries from $50.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Finally, The Goldman Sachs Group increased their target price on shares of LyondellBasell Industries from $51.00 to $75.00 and gave the stock a “sell” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $72.22.

About LyondellBasell Industries

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.