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

Pekin Hardy Strauss Inc. raised its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 5.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,257 shares of the specialty chemicals company’s stock after buying an additional 1,290 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in LyondellBasell Industries were worth $2,518,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. CVA Family Office LLC grew its holdings 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 purchasing an additional 159 shares in the last quarter. Beacon Capital Management LLC purchased a new position in LyondellBasell Industries in the 1st quarter worth approximately $28,000. Matrix Trust Co bought a new position in shares of LyondellBasell Industries in the 3rd quarter worth $30,000. Blue Trust Inc. raised its position in shares of LyondellBasell Industries by 311.0% during the 2nd quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock valued at $31,000 after buying an additional 227 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in shares of LyondellBasell Industries during the 3rd quarter worth $31,000. 71.20% of the stock is currently owned by institutional investors.

LyondellBasell Industries Price Performance

Shares of LYB stock opened at $83.87 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.25 and a current ratio of 2.13. The firm has a market cap of $27.24 billion, a P/E ratio of 12.77, a P/E/G ratio of 2.31 and a beta of 1.08. The business’s 50 day moving average price is $90.03 and its 200-day moving average price is $94.31. LyondellBasell Industries has a fifty-two week low of $81.45 and a fifty-two week high of $107.02.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing the consensus estimate of $1.98 by ($0.10). LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The company had revenue of $10.33 billion during the quarter, compared to the consensus estimate of $10.60 billion. During the same quarter last year, the company posted $2.46 earnings per share. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, equities research analysts anticipate that LyondellBasell Industries will post 7.09 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be given a $1.34 dividend. This represents a $5.36 annualized dividend and a dividend yield of 6.39%. The ex-dividend date is Monday, December 2nd. LyondellBasell Industries’s dividend payout ratio is currently 81.58%.

Analyst Ratings Changes

A number of research firms recently commented on LYB. Deutsche Bank Aktiengesellschaft reduced their target price on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Piper Sandler reduced their price objective on LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Mizuho dropped their target price on LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Royal Bank of Canada reduced their price target on shares of LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Finally, StockNews.com lowered shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Friday. One research 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $101.70.

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.