Charles Schwab Investment Management Inc. Buys 362,671 Shares of LyondellBasell Industries (NYSE:LYB)

Charles Schwab Investment Management Inc. boosted its stake in LyondellBasell Industries (NYSE:LYB) by 4.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 8,023,982 shares of the specialty chemicals company’s stock after buying an additional 362,671 shares during the period. Charles Schwab Investment Management Inc.’s holdings in LyondellBasell Industries were worth $769,500,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Bessemer Group Inc. boosted its stake in shares of LyondellBasell Industries by 99.4% in the first quarter. Bessemer Group Inc. now owns 19,674 shares of the specialty chemicals company’s stock valued at $2,013,000 after buying an additional 9,809 shares during the period. Lake Street Advisors Group LLC acquired a new stake in shares of LyondellBasell Industries during the 1st quarter worth $229,000. CANADA LIFE ASSURANCE Co increased its position in shares of LyondellBasell Industries by 2.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 163,567 shares of the specialty chemicals company’s stock worth $16,734,000 after purchasing an additional 3,954 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in LyondellBasell Industries during the first quarter worth about $427,000. Finally, Pitcairn Co. acquired a new stake in LyondellBasell Industries during the first quarter worth about $223,000. 71.20% of the stock is currently owned by institutional investors and hedge funds.

LyondellBasell Industries Stock Up 0.5 %

NYSE:LYB opened at $82.86 on Friday. LyondellBasell Industries has a one year low of $81.45 and a one year high of $107.02. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.13 and a quick ratio of 1.25. The company has a market cap of $26.91 billion, a PE ratio of 12.61, a P/E/G ratio of 2.30 and a beta of 1.08. The firm’s 50 day simple moving average is $90.22 and its 200 day simple moving average is $94.47.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing the consensus estimate of $1.98 by ($0.10). The business 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%. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.46 EPS. On average, research analysts anticipate that LyondellBasell Industries will post 7.09 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LYB. Barclays dropped their target price on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a research report on Monday, November 4th. Royal Bank of Canada reduced their target price on LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. JPMorgan Chase & Co. dropped their price objective 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. Evercore ISI upgraded LyondellBasell Industries to a “hold” rating in a research report on Monday, August 5th. Finally, Piper Sandler dropped their target price on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a report on Friday, November 8th. 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 MarketBeat, LyondellBasell Industries currently has an average rating of “Hold” and an average target price of $101.70.

LyondellBasell Industries Company 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.