M&T Bank Corp decreased its position in shares of LyondellBasell Industries (NYSE:LYB) by 8.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,052 shares of the specialty chemicals company’s stock after selling 2,548 shares during the period. M&T Bank Corp’s holdings in LyondellBasell Industries were worth $2,049,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. CX Institutional lifted its position in LyondellBasell Industries by 71.4% during the 3rd quarter. CX Institutional now owns 372 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 155 shares during the last quarter. Gradient Investments LLC acquired a new position in LyondellBasell Industries during the 3rd quarter worth $35,000. CNB Bank increased its holdings in shares of LyondellBasell Industries by 33.5% during the 3rd quarter. CNB Bank now owns 582 shares of the specialty chemicals company’s stock worth $41,000 after purchasing an additional 146 shares during the period. RMR Wealth Builders bought a new position in shares of LyondellBasell Industries during the 2nd quarter worth about $43,000. Finally, Price Wealth LLC increased its holdings in shares of LyondellBasell Industries by 601.1% during the 3rd quarter. Price Wealth LLC now owns 659 shares of the specialty chemicals company’s stock worth $46,000 after purchasing an additional 565 shares during the period. 66.81% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently issued reports on LYB. Wells Fargo & Company restated a “hold” rating on shares of LyondellBasell Industries in a report on Monday, November 2nd. JPMorgan Chase & Co. upgraded shares of LyondellBasell Industries from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $62.00 to $88.00 in a report on Friday, September 11th. BMO Capital Markets boosted their price objective on shares of LyondellBasell Industries from $66.00 to $75.00 and gave the stock a “market perform” rating in a report on Thursday, August 6th. HSBC downgraded shares of LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $72.00 price objective on the stock. in a report on Wednesday, September 16th. Finally, UBS Group boosted their price objective on shares of LyondellBasell Industries from $68.00 to $74.00 and gave the stock a “neutral” rating in a report on Tuesday, October 6th. Eighteen research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $74.32.
Shares of LyondellBasell Industries stock opened at $82.20 on Thursday. The company has a current ratio of 2.25, a quick ratio of 1.41 and a debt-to-equity ratio of 1.88. The stock has a market capitalization of $27.45 billion, a price-to-earnings ratio of 23.35, a P/E/G ratio of 1.84 and a beta of 1.46. LyondellBasell Industries has a 1-year low of $33.71 and a 1-year high of $95.82. The firm’s 50-day moving average price is $75.19 and its two-hundred day moving average price is $68.77.
LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, October 30th. The specialty chemicals company reported $1.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.14. LyondellBasell Industries had a net margin of 4.23% and a return on equity of 24.09%. The company had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.58 billion. During the same period in the prior year, the business earned $2.85 earnings per share. LyondellBasell Industries’s quarterly revenue was down 22.3% on a year-over-year basis. As a group, equities research analysts predict that LyondellBasell Industries will post 4.74 EPS for the current year.
LyondellBasell Industries Profile
LyondellBasell Industries N.V. operates as a chemical company in the United States, Germany, Mexico, Italy, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsÂAmericas; Olefins and PolyolefinsÂEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.
Further Reading: Net Margin
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