5 Best Basic Material Stocks to Buy Now

4. LyondellBasell Industries N.V. (NYSE:LYB)

Number of Hedge Fund Holders: 41

LyondellBasell Industries N.V. (NYSE:LYB) is a chemical manufacturer based in Texas that ranks fourth on the list of 10 best material stocks to buy now. LyondellBasell Industries N.V. (NYSE:LYB) is one of the leading chemical, plastic, and refining companies in the world.

On October 8, JPMorgan analyst Jeffrey Zekauskas kept an Overweight rating on LyondellBasell Industries N.V. (NYSE:LYB), with a price target of $135 per share. The stock gained 24% in the past twelve months.

In the second quarter of 2021, LyondellBasell Industries N.V. (NYSE:LYB) reported an EPS of $6.12, beating estimates by $0.50. The company’s second-quarter revenue was $11.56 billion, beating revenue estimates by $472.53 million.

LyondellBasell Industries N.V. (NYSE:LYB) currently offers a dividend yield of 4.61% and pays its shareholders an annual dividend of $4.52 per share.

Of the 873 elite funds tracked by Insider Monkey, 41 were long LyondellBasell Industries N.V. (NYSE:LYB) at the end of June. Entrepreneur and hedge fund manager Ken Griffin of Citadel Investment Group is one of the hedge funds with the largest stake in LyondellBasell Industries N.V. (NYSE:LYB), holding 1.44 million shares worth $149 million at the end of the second quarter.