Commerce Bank Purchases 49,707 Shares of LyondellBasell Industries (NYSE:LYB)

Commerce Bank grew its holdings in LyondellBasell Industries (NYSE:LYB) by 311.0% in the 3rd quarter, Holdings Channel reports. The fund owned 65,689 shares of the specialty chemicals company’s stock after purchasing an additional 49,707 shares during the quarter. Commerce Bank’s holdings in LyondellBasell Industries were worth $6,300,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of LYB. CVA Family Office LLC boosted its position in shares of LyondellBasell Industries by 155.9% during the third quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock worth $25,000 after buying an additional 159 shares during the period. Beacon Capital Management LLC acquired a new stake in LyondellBasell Industries in the first quarter valued at $28,000. Blue Trust Inc. grew its holdings in LyondellBasell Industries by 311.0% during the second quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 227 shares during the period. Matrix Trust Co bought a new position in shares of LyondellBasell Industries during the 3rd quarter worth approximately $30,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of LyondellBasell Industries during the 3rd quarter worth approximately $31,000. 71.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

LYB has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Royal Bank of Canada lowered 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. Piper Sandler decreased their price objective on LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Finally, Mizuho dropped their price objective on shares of LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, LyondellBasell Industries has a consensus rating of “Hold” and an average target price of $101.70.

LyondellBasell Industries Stock Performance

Shares of LyondellBasell Industries stock opened at $82.86 on Friday. The company has a 50 day moving average of $90.22 and a 200-day moving average of $94.47. The company has a market cap of $26.91 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 2.30 and a beta of 1.08. 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 1-year low of $81.45 and a 1-year high of $107.02.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.98 by ($0.10). The business had revenue of $10.33 billion during the quarter, compared to the consensus estimate 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 previous year, the business posted $2.46 EPS. As a group, equities research analysts forecast that LyondellBasell Industries will post 7.09 earnings per share for the current fiscal year.

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.