Pekin Hardy Strauss Inc. Trims Stock Position in LyondellBasell Industries (NYSE:LYB)

Pekin Hardy Strauss Inc. trimmed its holdings in LyondellBasell Industries (NYSE:LYB) by 9.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 42,732 shares of the specialty chemicals company’s stock after selling 4,698 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in LyondellBasell Industries were worth $4,063,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in LyondellBasell Industries by 10.3% during the third quarter. FMR LLC now owns 8,408,551 shares of the specialty chemicals company’s stock worth $796,290,000 after acquiring an additional 787,221 shares during the period. Morgan Stanley boosted its holdings in LyondellBasell Industries by 9.9% during the third quarter. Morgan Stanley now owns 6,305,596 shares of the specialty chemicals company’s stock worth $597,140,000 after buying an additional 569,887 shares in the last quarter. Federated Hermes Inc. grew its position in LyondellBasell Industries by 4.0% during the third quarter. Federated Hermes Inc. now owns 5,667,924 shares of the specialty chemicals company’s stock valued at $536,752,000 after buying an additional 217,461 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of LyondellBasell Industries by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,650,680 shares of the specialty chemicals company’s stock worth $535,119,000 after acquiring an additional 143,542 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of LyondellBasell Industries by 24.9% during the 3rd quarter. Invesco Ltd. now owns 4,085,474 shares of the specialty chemicals company’s stock worth $386,894,000 after acquiring an additional 815,083 shares in the last quarter. 71.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on LYB shares. Citigroup increased their price target on LyondellBasell Industries from $96.00 to $104.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. Wolfe Research initiated coverage on shares of LyondellBasell Industries in a research report on Friday, March 1st. They issued an “underperform” rating on the stock. Wells Fargo & Company boosted their target price on LyondellBasell Industries from $105.00 to $117.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. BMO Capital Markets boosted their price target on LyondellBasell Industries from $99.00 to $105.00 and gave the stock a “market perform” rating in a research note on Tuesday. Finally, Royal Bank of Canada increased their price target on shares of LyondellBasell Industries from $107.00 to $113.00 and gave the company an “outperform” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $104.75.

LyondellBasell Industries Stock Down 1.7 %

Shares of LYB stock traded down $1.73 on Tuesday, hitting $99.97. The company’s stock had a trading volume of 2,317,733 shares, compared to its average volume of 1,933,065. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.12 and a quick ratio of 1.32. The stock has a market capitalization of $32.53 billion, a price-to-earnings ratio of 15.45, a P/E/G ratio of 1.25 and a beta of 1.19. The firm’s fifty day moving average price is $100.95 and its 200-day moving average price is $96.58. LyondellBasell Industries has a fifty-two week low of $84.80 and a fifty-two week high of $106.69.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, April 26th. The specialty chemicals company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.17. LyondellBasell Industries had a return on equity of 19.31% and a net margin of 5.20%. The firm had revenue of $9.93 billion during the quarter, compared to the consensus estimate of $9.70 billion. During the same quarter in the prior year, the company earned $2.50 EPS. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. Research analysts anticipate that LyondellBasell Industries will post 8.69 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Monday, March 4th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date was Friday, March 1st. LyondellBasell Industries’s dividend payout ratio is currently 77.28%.

Insider Buying and Selling at LyondellBasell Industries

In other LyondellBasell Industries news, EVP Kenneth Todd Lane sold 9,489 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $98.92, for a total value of $938,651.88. Following the completion of the transaction, the executive vice president now directly owns 89,445 shares of the company’s stock, valued at $8,847,899.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Kenneth Todd Lane sold 9,489 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $98.92, for a total transaction of $938,651.88. Following the completion of the sale, the executive vice president now owns 89,445 shares of the company’s stock, valued at $8,847,899.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robin W.T. Buchanan sold 18,111 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $100.46, for a total transaction of $1,819,431.06. Following the completion of the sale, the director now directly owns 12,276 shares in the company, valued at $1,233,246.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 80,853 shares of company stock valued at $8,077,267. Corporate insiders own 0.11% of the company’s stock.

LyondellBasell Industries Profile

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.