PNC Financial Services Group Inc. Acquires 3,449 Shares of LyondellBasell Industries (NYSE:LYB)

PNC Financial Services Group Inc. grew its position in LyondellBasell Industries (NYSE:LYB) by 3.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 92,470 shares of the specialty chemicals company’s stock after acquiring an additional 3,449 shares during the quarter. PNC Financial Services Group Inc.’s holdings in LyondellBasell Industries were worth $6,868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. HighTower Advisors LLC boosted its holdings in shares of LyondellBasell Industries by 18.2% in the 3rd quarter. HighTower Advisors LLC now owns 1,038,687 shares of the specialty chemicals company’s stock worth $99,557,000 after purchasing an additional 159,803 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of LyondellBasell Industries by 3.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,229,416 shares of the specialty chemicals company’s stock worth $501,501,000 after purchasing an additional 187,150 shares during the period. Quantinno Capital Management LP boosted its holdings in LyondellBasell Industries by 23.1% during the 3rd quarter. Quantinno Capital Management LP now owns 61,897 shares of the specialty chemicals company’s stock valued at $5,936,000 after acquiring an additional 11,610 shares during the period. Fifth Third Wealth Advisors LLC boosted its holdings in LyondellBasell Industries by 202.4% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 12,986 shares of the specialty chemicals company’s stock valued at $964,000 after acquiring an additional 8,691 shares during the period. Finally, Sound Income Strategies LLC boosted its holdings in LyondellBasell Industries by 8.1% during the 4th quarter. Sound Income Strategies LLC now owns 271,626 shares of the specialty chemicals company’s stock valued at $20,174,000 after acquiring an additional 20,310 shares during the period. Institutional investors own 71.20% of the company’s stock.

Insider Transactions at LyondellBasell Industries

In other news, Director Robin W.T. Buchanan bought 5,000 shares of LyondellBasell Industries stock in a transaction on Friday, December 13th. The stock was acquired at an average price of $76.06 per share, with a total value of $380,300.00. Following the completion of the acquisition, the director now directly owns 18,175 shares of the company’s stock, valued at $1,382,390.50. The trade was a 37.95 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on LYB shares. Wells Fargo & Company lowered their target price on LyondellBasell Industries from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Piper Sandler reduced their price target on LyondellBasell Industries from $95.00 to $84.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Royal Bank of Canada boosted their price target on LyondellBasell Industries from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 4th. Morgan Stanley reduced their price target on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. reduced their price target on LyondellBasell Industries from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, LyondellBasell Industries presently has an average rating of “Hold” and an average target price of $88.25.

LyondellBasell Industries Stock Down 2.5 %

LyondellBasell Industries stock opened at $72.14 on Thursday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.13 and a current ratio of 1.83. The business’s 50-day simple moving average is $76.05 and its two-hundred day simple moving average is $83.20. The company has a market cap of $23.33 billion, a PE ratio of 17.43, a PEG ratio of 0.97 and a beta of 1.06. LyondellBasell Industries has a fifty-two week low of $71.98 and a fifty-two week high of $107.02.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.53). LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. During the same period in the previous year, the company posted $1.26 EPS. Equities analysts anticipate that LyondellBasell Industries will post 6.31 EPS for the current year.

LyondellBasell Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a $1.34 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.36 dividend on an annualized basis and a dividend yield of 7.43%. LyondellBasell Industries’s payout ratio is 129.47%.

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.