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LyondellBasell (LYB) Buys 50% Stake in Dutch Recycling Company
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LyondellBasell Industries N.V. (LYB - Free Report) has announced to acquire 50% share in Stiphout Industries, which operates a facility in Montfort, the Netherlands. Stiphout has an annual processing capacity equivalent to the total amount of plastic packaging waste generated by more than 500,000 Dutch citizens.
This buyout is in line with LYB’s strategy of investing in recycling and plastic waste processing companies to supplement its existing assets in the Netherlands and Germany as well as with its integrated hub model. In addition, LyondellBasell can utilize local logistics and operational benefits with its Quality Circular Polymers business through this alliance. It also opens up opportunities for LyondellBasell to further expand its CirculenRecover portfolio, delivering solutions for customers and brand owners in support of their circular and low-carbon goals.
Stiphout has solidified itself as an innovative player in the Netherlands by converting plastic household waste into clean flakes of recycled polypropylene and high-density polyethylene materials. The collaboration with LyondellBasell will enable it to improve its commercial and operational excellence.
Shares of LYB have gained 4.9% over the past year compared with 12% growth of its industry.
Image Source: Zacks Investment Research
The company anticipates a slight increase in global demand driven by usual seasonal trends. The demand for transportation fuels is expected to increase over the summer, supporting oxyfuels and refining margins. Delays at the beginning of industry-wide capacity expansions for polyethylene in North America are likely to lower new market supply and support polyethylene margins.
In order to keep pace with the market expectation, LyondellBasell estimates operating Intermediates & Derivatives assets at 80% and modestly raise global olefins and polyolefins operating rates to 85%. LYB will continue to monitor the impact on petrochemical markets in the second half of 2023 of shifting global monetary policies and strengthening economic conditions in China.
LyondellBasell Industries N.V. Price and Consensus
LyondellBasell currently carries Zacks Rank #3 (Hold).
Some better-ranked stocks to consider in the basic materials space include Carpenter Technology Corporation (CRS - Free Report) , Silvercorp Metals Inc. (SVM - Free Report) and ATI Inc. (ATI - Free Report) .
CRS currently sports a Zacks Rank #1 (Strong Buy). The Zacks Consensus Estimate for CRS’ current-year earnings is pegged at $1.04 per share, implying year-over-year surge of 198.1%. You can see the complete list of today’s Zacks #1 Rank stocks here.
CRS has a trailing four-quarter earnings surprise of roughly 30.9%, on average. The stock has gained around 94.7% in a year.
Silvercorp Metals currently carries a Zacks Rank #2 (Buy). The consensus estimate for SVM’s current fiscal-year earnings is pegged at 27 cents per share, suggesting year-over-year rise of 28.6%.
SVM has a trailing four-quarter earnings surprise of roughly 12.5%, on average. The stock has jumped roughly 40.9% in the past year.
ATI presently holds a Zacks Rank #2. The Zacks Consensus Estimate for ATI's current-year earnings has been stable over the past 60 days.
ATI’s earnings beat the Zacks Consensus Estimate in last four quarters. It has a trailing four-quarter earnings surprise of roughly 13%, on average. ATI shares have gained around 87.5% in a year.
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LyondellBasell (LYB) Buys 50% Stake in Dutch Recycling Company
LyondellBasell Industries N.V. (LYB - Free Report) has announced to acquire 50% share in Stiphout Industries, which operates a facility in Montfort, the Netherlands. Stiphout has an annual processing capacity equivalent to the total amount of plastic packaging waste generated by more than 500,000 Dutch citizens.
This buyout is in line with LYB’s strategy of investing in recycling and plastic waste processing companies to supplement its existing assets in the Netherlands and Germany as well as with its integrated hub model. In addition, LyondellBasell can utilize local logistics and operational benefits with its Quality Circular Polymers business through this alliance. It also opens up opportunities for LyondellBasell to further expand its CirculenRecover portfolio, delivering solutions for customers and brand owners in support of their circular and low-carbon goals.
Stiphout has solidified itself as an innovative player in the Netherlands by converting plastic household waste into clean flakes of recycled polypropylene and high-density polyethylene materials. The collaboration with LyondellBasell will enable it to improve its commercial and operational excellence.
Shares of LYB have gained 4.9% over the past year compared with 12% growth of its industry.
Image Source: Zacks Investment Research
The company anticipates a slight increase in global demand driven by usual seasonal trends. The demand for transportation fuels is expected to increase over the summer, supporting oxyfuels and refining margins. Delays at the beginning of industry-wide capacity expansions for polyethylene in North America are likely to lower new market supply and support polyethylene margins.
In order to keep pace with the market expectation, LyondellBasell estimates operating Intermediates & Derivatives assets at 80% and modestly raise global olefins and polyolefins operating rates to 85%. LYB will continue to monitor the impact on petrochemical markets in the second half of 2023 of shifting global monetary policies and strengthening economic conditions in China.
LyondellBasell Industries N.V. Price and Consensus
LyondellBasell Industries N.V. price-consensus-chart | LyondellBasell Industries N.V. Quote
Zacks Rank & Key Picks
LyondellBasell currently carries Zacks Rank #3 (Hold).
Some better-ranked stocks to consider in the basic materials space include Carpenter Technology Corporation (CRS - Free Report) , Silvercorp Metals Inc. (SVM - Free Report) and ATI Inc. (ATI - Free Report) .
CRS currently sports a Zacks Rank #1 (Strong Buy). The Zacks Consensus Estimate for CRS’ current-year earnings is pegged at $1.04 per share, implying year-over-year surge of 198.1%. You can see the complete list of today’s Zacks #1 Rank stocks here.
CRS has a trailing four-quarter earnings surprise of roughly 30.9%, on average. The stock has gained around 94.7% in a year.
Silvercorp Metals currently carries a Zacks Rank #2 (Buy). The consensus estimate for SVM’s current fiscal-year earnings is pegged at 27 cents per share, suggesting year-over-year rise of 28.6%.
SVM has a trailing four-quarter earnings surprise of roughly 12.5%, on average. The stock has jumped roughly 40.9% in the past year.
ATI presently holds a Zacks Rank #2. The Zacks Consensus Estimate for ATI's current-year earnings has been stable over the past 60 days.
ATI’s earnings beat the Zacks Consensus Estimate in last four quarters. It has a trailing four-quarter earnings surprise of roughly 13%, on average. ATI shares have gained around 87.5% in a year.