State of Michigan Retirement System Invests $5.96 Million in LyondellBasell Industries N.V. $LYB

State of Michigan Retirement System acquired a new stake in LyondellBasell Industries N.V. (NYSE:LYB) in the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 73,965 shares of the specialty chemicals company’s stock, valued at approximately $5,959,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Stance Capital LLC acquired a new position in shares of LyondellBasell Industries in the 3rd quarter worth approximately $27,000. Banque Cantonale Vaudoise bought a new position in LyondellBasell Industries during the first quarter worth $48,000. Quarry LP acquired a new position in LyondellBasell Industries in the third quarter worth $31,000. Clearstead Advisors LLC boosted its holdings in LyondellBasell Industries by 140.3% in the fourth quarter. Clearstead Advisors LLC now owns 668 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 390 shares during the period. Finally, CYBER HORNET ETFs LLC bought a new stake in LyondellBasell Industries during the second quarter valued at $39,000. Institutional investors and hedge funds own 71.20% of the company’s stock.

LyondellBasell Industries Price Performance

Shares of NYSE:LYB opened at $57.79 on Friday. The firm’s 50 day moving average is $63.17 and its two-hundred day moving average is $62.70. The firm has a market capitalization of $18.66 billion, a P/E ratio of -23.21, a PEG ratio of 0.18 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. 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 quarterly earnings data on Friday, May 1st. The specialty chemicals company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.18. LyondellBasell Industries had a positive return on equity of 5.68% and a negative net margin of 2.68%.The business 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 business’s revenue was down 6.3% on a year-over-year basis. Analysts anticipate that LyondellBasell Industries N.V. will post 9.07 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Monday, June 1st were given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Monday, June 1st. LyondellBasell Industries’s payout ratio is -110.84%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Wells Fargo & Company raised shares of LyondellBasell Industries from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $80.00 to $98.00 in a report on Thursday, May 28th. Evercore boosted their price objective on shares of LyondellBasell Industries from $70.00 to $73.00 in a research report on Thursday, May 14th. BMO Capital Markets dropped their price objective 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. Wolfe Research raised their target price on shares of LyondellBasell Industries from $38.00 to $62.00 and gave the stock an “underperform” rating in a report on Tuesday, April 14th. Finally, JPMorgan Chase & Co. lifted their target price on LyondellBasell Industries from $50.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $72.22.

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.