Pitcairn Co. Has $438,000 Stock Position in LyondellBasell Industries (NYSE:LYB)

Pitcairn Co. cut its position in LyondellBasell Industries (NYSE:LYB) by 7.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,567 shares of the specialty chemicals company’s stock after selling 380 shares during the period. Pitcairn Co.’s holdings in LyondellBasell Industries were worth $438,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. CVA Family Office LLC boosted its holdings in shares of LyondellBasell Industries by 155.9% in the 3rd quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock worth $25,000 after acquiring an additional 159 shares in the last quarter. Beacon Capital Management LLC acquired a new position in LyondellBasell Industries in the first quarter worth $28,000. Blue Trust Inc. grew its holdings in shares of 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 last quarter. Matrix Trust Co acquired a new stake in shares of LyondellBasell Industries in the third quarter valued at $30,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of LyondellBasell Industries in the third quarter valued at about $31,000. 71.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LYB has been the subject of a number of research analyst reports. Mizuho dropped their target price 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. Piper Sandler dropped their price objective on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Evercore ISI upgraded LyondellBasell Industries to a “hold” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. dropped their target price on LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Finally, Barclays decreased their price target on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $101.70.

LyondellBasell Industries Price Performance

LyondellBasell Industries stock opened at $82.14 on Wednesday. The company has a current ratio of 2.13, a quick ratio of 1.25 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $26.68 billion, a P/E ratio of 12.50, a PEG ratio of 2.34 and a beta of 1.08. The business has a 50-day moving average of $89.57 and a 200-day moving average of $94.00. 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 earnings results 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). The firm 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 firm’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.46 EPS. On average, equities analysts anticipate that LyondellBasell Industries will post 7.09 EPS for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, December 2nd will be issued a dividend of $1.34 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $5.36 annualized dividend and a yield of 6.53%. LyondellBasell Industries’s dividend payout ratio is presently 81.58%.

About LyondellBasell Industries

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.