Pinnacle Wealth Planning Services Inc. lifted its holdings in shares of LyondellBasell Industries (NYSE:LYB – Get Rating) by 21.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,999 shares of the specialty chemicals company’s stock after purchasing an additional 537 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in LyondellBasell Industries were worth $308,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Core Wealth Advisors Inc. acquired a new position in LyondellBasell Industries during the 4th quarter worth approximately $28,000. Covestor Ltd purchased a new stake in shares of LyondellBasell Industries in the fourth quarter worth approximately $31,000. Newbridge Financial Services Group Inc. raised its stake in shares of LyondellBasell Industries by 418.5% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 337 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 272 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new stake in shares of LyondellBasell Industries in the fourth quarter worth approximately $34,000. Finally, KRS Capital Management LLC purchased a new stake in shares of LyondellBasell Industries during the fourth quarter valued at approximately $35,000. 69.64% of the stock is currently owned by institutional investors and hedge funds.
In other LyondellBasell Industries news, Director Jagjeet S. Bindra sold 2,640 shares of the stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $111.44, for a total transaction of $294,201.60. Following the completion of the transaction, the director now owns 7,020 shares of the company’s stock, valued at approximately $782,308.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael C. Mcmurray sold 33,880 shares of the stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $110.94, for a total transaction of $3,758,647.20. Following the transaction, the chief financial officer now directly owns 39,612 shares of the company’s stock, valued at approximately $4,394,555.28. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.
LYB has been the subject of several research reports. Jefferies Financial Group reduced their price objective on LyondellBasell Industries from $135.00 to $117.00 in a report on Thursday, June 16th. JPMorgan Chase & Co. reduced their price objective on LyondellBasell Industries from $130.00 to $115.00 in a report on Friday, June 17th. Alembic Global Advisors lowered LyondellBasell Industries from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $120.00 to $115.00 in a report on Tuesday, May 31st. Deutsche Bank Aktiengesellschaft increased their price objective on LyondellBasell Industries from $104.00 to $120.00 in a research report on Thursday, May 5th. Finally, Bank of America lowered their price objective on LyondellBasell Industries from $109.00 to $100.00 and set an “underperform” rating on the stock in a research report on Tuesday, June 14th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, LyondellBasell Industries currently has an average rating of “Hold” and a consensus target price of $112.12.
Shares of LYB opened at $87.66 on Friday. The firm has a market cap of $28.72 billion, a PE ratio of 4.99, a P/E/G ratio of 0.61 and a beta of 1.32. The company has a current ratio of 1.76, a quick ratio of 1.10 and a debt-to-equity ratio of 0.88. The firm has a fifty day simple moving average of $103.55 and a two hundred day simple moving average of $100.91. LyondellBasell Industries has a 1-year low of $83.50 and a 1-year high of $117.22.
LyondellBasell Industries (NYSE:LYB – Get Rating) last issued its earnings results on Friday, April 29th. The specialty chemicals company reported $4.00 earnings per share for the quarter, topping the consensus estimate of $3.48 by $0.52. The company had revenue of $13.16 billion during the quarter, compared to the consensus estimate of $12.67 billion. LyondellBasell Industries had a net margin of 11.68% and a return on equity of 54.14%. LyondellBasell Industries’ quarterly revenue was up 44.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.18 EPS. As a group, research analysts forecast that LyondellBasell Industries will post 17.85 EPS for the current fiscal year.
The company also recently announced a special dividend, which was paid on Monday, June 13th. Investors of record on Monday, June 6th were issued a $5.20 dividend. This represents a yield of 4.2%. The ex-dividend date was Friday, June 3rd. LyondellBasell Industries’s dividend payout ratio is currently 27.11%.
LyondellBasell Industries Company Profile (Get Rating)
LyondellBasell Industries NV 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 Polyolefins Americas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.
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