Franklin Resources Inc. Grows Stake in LyondellBasell Industries (NYSE:LYB)

Franklin Resources Inc. grew its position in LyondellBasell Industries (NYSE:LYB) by 11.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,875,267 shares of the specialty chemicals company’s stock after purchasing an additional 293,622 shares during the quarter. Franklin Resources Inc.’s holdings in LyondellBasell Industries were worth $268,664,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Jacobs Levy Equity Management Inc. lifted its holdings in LyondellBasell Industries by 211.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,283,163 shares of the specialty chemicals company’s stock worth $123,055,000 after buying an additional 871,708 shares during the period. Pacer Advisors Inc. lifted its stake in shares of LyondellBasell Industries by 13.6% during the 2nd quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock worth $461,930,000 after purchasing an additional 579,300 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in LyondellBasell Industries by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,023,982 shares of the specialty chemicals company’s stock valued at $769,500,000 after purchasing an additional 362,671 shares in the last quarter. Ensign Peak Advisors Inc grew its stake in LyondellBasell Industries by 80.7% in the second quarter. Ensign Peak Advisors Inc now owns 779,040 shares of the specialty chemicals company’s stock valued at $74,523,000 after purchasing an additional 347,877 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in LyondellBasell Industries by 4.4% in the third quarter. Geode Capital Management LLC now owns 6,605,151 shares of the specialty chemicals company’s stock worth $638,964,000 after purchasing an additional 277,108 shares in the last quarter. Institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Stock Performance

LYB opened at $75.67 on Friday. The firm has a 50 day moving average of $85.32 and a two-hundred day moving average of $92.16. The firm has a market capitalization of $24.57 billion, a PE ratio of 11.52, a P/E/G ratio of 2.16 and a beta of 1.05. The company has a current ratio of 2.13, a quick ratio of 1.25 and a debt-to-equity ratio of 0.81. LyondellBasell Industries has a 12-month low of $74.92 and a 12-month high of $107.02.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). The business had revenue of $10.33 billion for the quarter, compared to analyst estimates of $10.60 billion. LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.46 earnings per share. On average, analysts anticipate that LyondellBasell Industries will post 7.02 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were given a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a yield of 7.08%. The ex-dividend date of this dividend was Monday, December 2nd. LyondellBasell Industries’s dividend payout ratio is currently 81.58%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LYB. The Goldman Sachs Group cut their price objective on shares of LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. cut their price target on shares of LyondellBasell Industries from $100.00 to $90.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. Mizuho decreased their price objective on LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating for the company in a report on Monday, December 9th. Royal Bank of Canada dropped their target price on LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Finally, Piper Sandler decreased their price target on LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, LyondellBasell Industries presently has an average rating of “Hold” and a consensus target price of $97.36.

About LyondellBasell Industries

LyondellBasell Industries N.V. operates as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.