Pekin Hardy Strauss Inc. Has $6.67 Million Stake in LyondellBasell Industries N.V. $LYB

Pekin Hardy Strauss Inc. grew its holdings in shares of LyondellBasell Industries N.V. (NYSE:LYB) by 67.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 115,310 shares of the specialty chemicals company’s stock after purchasing an additional 46,481 shares during the period. Pekin Hardy Strauss Inc.’s holdings in LyondellBasell Industries were worth $6,672,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in LYB. Charles Schwab Investment Management Inc. grew its position in LyondellBasell Industries by 7.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 9,239,562 shares of the specialty chemicals company’s stock worth $650,465,000 after buying an additional 657,443 shares in the last quarter. Invesco Ltd. grew its holdings in shares of LyondellBasell Industries by 10.4% during the 1st quarter. Invesco Ltd. now owns 6,432,552 shares of the specialty chemicals company’s stock worth $452,852,000 after purchasing an additional 606,234 shares in the last quarter. Federated Hermes Inc. increased its position in shares of LyondellBasell Industries by 12.7% in the first quarter. Federated Hermes Inc. now owns 4,744,239 shares of the specialty chemicals company’s stock worth $333,994,000 after purchasing an additional 534,456 shares during the period. JPMorgan Chase & Co. raised its stake in LyondellBasell Industries by 12.8% in the first quarter. JPMorgan Chase & Co. now owns 4,490,241 shares of the specialty chemicals company’s stock valued at $316,113,000 after purchasing an additional 509,996 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in LyondellBasell Industries by 15.7% during the first quarter. Alliancebernstein L.P. now owns 4,105,317 shares of the specialty chemicals company’s stock worth $289,014,000 after purchasing an additional 557,397 shares during the period. 71.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LYB has been the topic of several recent analyst reports. Rothschild & Co Redburn decreased their target price on shares of LyondellBasell Industries from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, September 12th. Weiss Ratings reiterated a “sell (d+)” rating on shares of LyondellBasell Industries in a research report on Wednesday, October 8th. Citigroup lowered their price objective on shares of LyondellBasell Industries from $53.00 to $49.00 and set a “neutral” rating for the company in a research report on Thursday, October 2nd. Mizuho set a $52.00 target price on LyondellBasell Industries in a report on Monday. Finally, Evercore ISI decreased their price target on LyondellBasell Industries from $90.00 to $65.00 and set an “in-line” rating on the stock in a research note on Tuesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, twelve have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $57.69.

LyondellBasell Industries Stock Performance

Shares of LyondellBasell Industries stock opened at $42.37 on Friday. The company’s 50 day moving average price is $49.59 and its two-hundred day moving average price is $55.20. The firm has a market capitalization of $13.64 billion, a P/E ratio of 55.02 and a beta of 0.87. LyondellBasell Industries N.V. has a fifty-two week low of $42.31 and a fifty-two week high of $87.56. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.77 and a quick ratio of 1.04.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, October 31st. The specialty chemicals company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.21. The company had revenue of $7.73 billion for the quarter, compared to the consensus estimate of $7.41 billion. LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%.LyondellBasell Industries’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same quarter last year, the business posted $1.88 EPS. On average, equities analysts forecast that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current fiscal year.

Insider Transactions at LyondellBasell Industries

In other LyondellBasell Industries news, CEO Peter Z. E. Vanacker sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $53.57, for a total transaction of $1,071,400.00. Following the sale, the chief executive officer directly owned 160,351 shares of the company’s stock, valued at $8,590,003.07. The trade was a 11.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.14% 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.