PNC Financial Services Group Inc. Decreases Position in LyondellBasell Industries (NYSE:LYB)

PNC Financial Services Group Inc. lowered its stake in shares of LyondellBasell Industries (NYSE:LYB) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 90,126 shares of the specialty chemicals company’s stock after selling 3,037 shares during the quarter. PNC Financial Services Group Inc.’s holdings in LyondellBasell Industries were worth $8,569,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of LYB. Mutual Advisors LLC raised its position in LyondellBasell Industries by 0.8% in the 3rd quarter. Mutual Advisors LLC now owns 14,386 shares of the specialty chemicals company’s stock valued at $1,362,000 after purchasing an additional 111 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC boosted its stake in shares of LyondellBasell Industries by 1.2% during the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 9,567 shares of the specialty chemicals company’s stock worth $910,000 after buying an additional 114 shares during the period. Metis Global Partners LLC grew its holdings in shares of LyondellBasell Industries by 0.9% during the fourth quarter. Metis Global Partners LLC now owns 13,264 shares of the specialty chemicals company’s stock worth $1,261,000 after buying an additional 115 shares during the last quarter. Czech National Bank increased its position in LyondellBasell Industries by 0.3% in the 4th quarter. Czech National Bank now owns 44,879 shares of the specialty chemicals company’s stock valued at $4,267,000 after acquiring an additional 116 shares during the period. Finally, NBC Securities Inc. raised its stake in LyondellBasell Industries by 1.6% during the 4th quarter. NBC Securities Inc. now owns 8,218 shares of the specialty chemicals company’s stock valued at $781,000 after acquiring an additional 133 shares during the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Barclays upped their price target on LyondellBasell Industries from $100.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Monday, May 6th. JPMorgan Chase & Co. boosted their price target on shares of LyondellBasell Industries from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, March 22nd. Deutsche Bank Aktiengesellschaft increased their price target on shares of LyondellBasell Industries from $100.00 to $105.00 and gave the stock a “hold” rating in a report on Tuesday, April 30th. Wells Fargo & Company boosted their target price on LyondellBasell Industries from $105.00 to $117.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Finally, BMO Capital Markets lifted their price target on LyondellBasell Industries from $99.00 to $105.00 and gave the company a “market perform” rating in a research note on Tuesday, April 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $105.08.

LyondellBasell Industries Stock Down 1.1 %

LYB stock opened at $97.42 on Friday. The company’s 50 day simple moving average is $101.20 and its 200-day simple moving average is $97.59. The firm has a market capitalization of $31.72 billion, a PE ratio of 15.06, a P/E/G ratio of 1.22 and a beta of 1.18. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.12 and a quick ratio of 1.32. LyondellBasell Industries has a 12 month low of $84.80 and a 12 month high of $107.02.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.17. LyondellBasell Industries had a return on equity of 19.31% and a net margin of 5.20%. The business had revenue of $9.93 billion for the quarter, compared to the consensus estimate of $9.70 billion. During the same period in the prior year, the business earned $2.50 earnings per share. The business’s revenue was down 3.1% on a year-over-year basis. Equities analysts expect that LyondellBasell Industries will post 8.5 earnings per share for the current fiscal year.

LyondellBasell Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, June 3rd will be paid a $1.34 dividend. This is a boost from LyondellBasell Industries’s previous quarterly dividend of $1.25. This represents a $5.36 annualized dividend and a yield of 5.50%. LyondellBasell Industries’s payout ratio is presently 77.28%.

Insiders Place Their Bets

In other LyondellBasell Industries news, EVP Kenneth Todd Lane sold 9,489 shares of LyondellBasell Industries stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $98.92, for a total value of $938,651.88. Following the completion of the sale, the executive vice president now owns 89,445 shares in the company, valued at approximately $8,847,899.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other LyondellBasell Industries news, Director Robin W.T. Buchanan sold 18,111 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $100.46, for a total transaction of $1,819,431.06. Following the completion of the sale, the director now directly owns 12,276 shares in the company, valued at $1,233,246.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kenneth Todd Lane sold 9,489 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $98.92, for a total value of $938,651.88. Following the completion of the sale, the executive vice president now owns 89,445 shares of the company’s stock, valued at $8,847,899.40. The disclosure for this sale can be found here. Insiders have sold a total of 51,624 shares of company stock valued at $5,178,042 in the last quarter. 0.11% of the stock is currently owned by company insiders.

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.