Loews Corp Reduces Stock Holdings in LyondellBasell Industries N.V. $LYB

Loews Corp lowered its stake in LyondellBasell Industries N.V. (NYSE:LYB) by 43.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,000 shares of the specialty chemicals company’s stock after selling 47,000 shares during the period. LyondellBasell Industries accounts for approximately 0.0% of Loews Corp’s holdings, making the stock its 22nd biggest holding. Loews Corp’s holdings in LyondellBasell Industries were worth $2,942,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. MTM Investment Management LLC purchased a new position in shares of LyondellBasell Industries during the second quarter valued at about $26,000. Parvin Asset Management LLC purchased a new stake in LyondellBasell Industries in the second quarter worth about $26,000. Capital A Wealth Management LLC boosted its position in LyondellBasell Industries by 6,314.3% during the 2nd quarter. Capital A Wealth Management LLC now owns 449 shares of the specialty chemicals company’s stock valued at $26,000 after acquiring an additional 442 shares in the last quarter. EMC Capital Management purchased a new position in shares of LyondellBasell Industries during the 2nd quarter worth approximately $29,000. Finally, Quent Capital LLC purchased a new position in shares of LyondellBasell Industries during the 3rd quarter worth approximately $29,000. 71.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Bank of America lowered their target price on LyondellBasell Industries from $52.00 to $46.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Vertical Research raised LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Monday, March 9th. Royal Bank Of Canada upgraded LyondellBasell Industries from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $51.00 to $82.00 in a report on Monday, March 9th. Jefferies Financial Group boosted their target price on shares of LyondellBasell Industries from $51.00 to $70.00 and gave the company a “hold” rating in a report on Tuesday, March 10th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of LyondellBasell Industries in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, thirteen have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $61.28.

LyondellBasell Industries Stock Performance

Shares of LYB opened at $71.08 on Tuesday. The company has a quick ratio of 1.20, a current ratio of 1.77 and a debt-to-equity ratio of 1.20. The stock has a market cap of $22.90 billion, a P/E ratio of -30.51, a P/E/G ratio of 0.62 and a beta of 0.64. The business’s 50 day moving average price is $55.94 and its 200-day moving average price is $50.28. LyondellBasell Industries N.V. has a 52 week low of $41.58 and a 52 week high of $75.62.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, January 30th. The specialty chemicals company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.44). The company had revenue of $7.09 billion for the quarter, compared to the consensus estimate of $6.82 billion. LyondellBasell Industries had a negative net margin of 2.46% and a positive return on equity of 4.93%. The firm’s quarterly revenue was down 9.2% on a year-over-year basis. During the same period last year, the business earned $0.75 EPS. Equities research analysts anticipate that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 9th. Stockholders of record on Monday, March 2nd were issued a dividend of $0.69 per share. The ex-dividend date was Monday, March 2nd. This represents a $2.76 annualized dividend and a dividend yield of 3.9%. LyondellBasell Industries’s dividend payout ratio (DPR) is presently -118.45%.

Insider Activity

In other news, major shareholder Ai Investments Holdings Llc sold 384,548 shares of LyondellBasell Industries stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $68.13, for a total value of $26,199,255.24. Following the completion of the transaction, the insider owned 5,270,918 shares of the company’s stock, valued at $359,107,643.34. The trade was a 6.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

LyondellBasell Industries 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.