Wiregrass Investment Management LLC Sells 18,795 Shares of LyondellBasell Industries N.V. $LYB

Wiregrass Investment Management LLC lowered its position in shares of LyondellBasell Industries N.V. (NYSE:LYB) by 56.9% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 14,229 shares of the specialty chemicals company’s stock after selling 18,795 shares during the quarter. Wiregrass Investment Management LLC’s holdings in LyondellBasell Industries were worth $1,146,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LYB. Woodline Partners LP increased its position in shares of LyondellBasell Industries by 40.4% during the first quarter. Woodline Partners LP now owns 21,899 shares of the specialty chemicals company’s stock valued at $1,542,000 after acquiring an additional 6,297 shares during the last quarter. Focus Partners Wealth boosted its position in LyondellBasell Industries by 35.4% in the first quarter. Focus Partners Wealth now owns 6,866 shares of the specialty chemicals company’s stock worth $483,000 after purchasing an additional 1,796 shares during the last quarter. Baird Financial Group Inc. boosted its position in LyondellBasell Industries by 69.5% in the second quarter. Baird Financial Group Inc. now owns 29,488 shares of the specialty chemicals company’s stock worth $1,706,000 after purchasing an additional 12,087 shares during the last quarter. Cerity Partners LLC grew its stake in LyondellBasell Industries by 13.9% in the 2nd quarter. Cerity Partners LLC now owns 49,348 shares of the specialty chemicals company’s stock valued at $2,855,000 after purchasing an additional 6,032 shares during the period. Finally, Daiwa Securities Group Inc. grew its stake in LyondellBasell Industries by 9.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 41,416 shares of the specialty chemicals company’s stock valued at $2,397,000 after purchasing an additional 3,715 shares during the period. Hedge funds and other institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Stock Up 0.8%

LYB opened at $61.19 on Wednesday. LyondellBasell Industries N.V. has a 12 month low of $41.58 and a 12 month high of $83.94. The company has a market cap of $19.75 billion, a PE ratio of -24.58, a price-to-earnings-growth ratio of 0.19 and a beta of 0.32. The company has a current ratio of 1.54, a quick ratio of 1.03 and a debt-to-equity ratio of 1.12. The company has a 50 day moving average of $62.40 and a 200 day moving average of $63.06.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.18. The business had revenue of $7.20 billion for the quarter, compared to analysts’ expectations of $7.53 billion. LyondellBasell Industries had a negative net margin of 2.68% and a positive return on equity of 5.68%. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.33 EPS. On average, sell-side analysts expect that LyondellBasell Industries N.V. will post 9.07 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Monday, June 1st were given a $0.69 dividend. The ex-dividend date was Monday, June 1st. This represents a $2.76 annualized dividend and a dividend yield of 4.5%. LyondellBasell Industries’s payout ratio is -110.84%.

Analysts Set New Price Targets

A number of research firms have recently commented on LYB. JPMorgan Chase & Co. lifted their target price on LyondellBasell Industries from $50.00 to $75.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Zacks Research lowered shares of LyondellBasell Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 1st. Mizuho decreased their price objective on shares of LyondellBasell Industries from $76.00 to $62.00 and set a “neutral” rating for the company in a report on Wednesday, July 1st. Jefferies Financial Group lifted their price objective on shares of LyondellBasell Industries from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Thursday, April 16th. Finally, BMO Capital Markets dropped their target price on shares of LyondellBasell Industries from $88.00 to $64.00 and set a “market perform” rating on the stock in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, LyondellBasell Industries presently has a consensus rating of “Hold” and an average price target of $71.94.

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.