SouthState Corp Reduces Position in LyondellBasell Industries (NYSE:LYB)

SouthState Corp trimmed its holdings in LyondellBasell Industries (NYSE:LYB) by 14.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,017 shares of the specialty chemicals company’s stock after selling 1,040 shares during the period. SouthState Corp’s holdings in LyondellBasell Industries were worth $577,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of LYB. CVA Family Office LLC raised 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 valued at $25,000 after purchasing an additional 159 shares during the last quarter. Beacon Capital Management LLC purchased a new stake in LyondellBasell Industries during the 1st quarter valued at $28,000. Blue Trust Inc. lifted its holdings 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 during the period. Matrix Trust Co purchased a new position in shares of LyondellBasell Industries in the 3rd quarter worth $30,000. Finally, Ashton Thomas Securities LLC bought a new stake in shares of LyondellBasell Industries in the third quarter worth $31,000. Hedge funds and other institutional investors own 71.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on LYB shares. Royal Bank of Canada dropped their target price on LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Mizuho dropped their price objective on shares of LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Evercore ISI raised shares of LyondellBasell Industries to a “hold” rating in a report on Monday, August 5th. StockNews.com upgraded shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Finally, Barclays lowered 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 analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, LyondellBasell Industries currently has an average rating of “Hold” and a consensus target price of $101.70.

LyondellBasell Industries Stock Down 1.2 %

Shares of LYB opened at $82.20 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 2.13 and a debt-to-equity ratio of 0.81. The business has a fifty day moving average of $90.67 and a 200 day moving average of $94.64. The company has a market cap of $26.70 billion, a PE ratio of 12.51, a P/E/G ratio of 2.31 and a beta of 1.08. LyondellBasell Industries has a 52-week low of $81.91 and a 52-week high of $107.02.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (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 return on equity of 17.05% and a net margin of 5.29%. LyondellBasell Industries’s revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.46 EPS. On average, sell-side analysts expect that LyondellBasell Industries will post 7.09 EPS for the current year.

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.