PNC Financial Services Group Inc. Grows Stake in LyondellBasell Industries N.V. $LYB

PNC Financial Services Group Inc. grew its holdings in shares of LyondellBasell Industries N.V. (NYSE:LYB) by 57.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 201,175 shares of the specialty chemicals company’s stock after purchasing an additional 73,687 shares during the quarter. PNC Financial Services Group Inc.’s holdings in LyondellBasell Industries were worth $16,207,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LYB. Banque Cantonale Vaudoise acquired a new position in shares of LyondellBasell Industries during the first quarter valued at about $48,000. Quarry LP acquired a new stake in LyondellBasell Industries during the third quarter worth about $31,000. Clearstead Advisors LLC increased its holdings in shares of LyondellBasell Industries by 140.3% during the 4th quarter. Clearstead Advisors LLC now owns 668 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 390 shares in the last quarter. CYBER HORNET ETFs LLC purchased a new position in shares of LyondellBasell Industries in the 2nd quarter valued at about $39,000. Finally, ORG Partners LLC boosted its position in LyondellBasell Industries by 960.0% during the fourth quarter. ORG Partners LLC now owns 689 shares of the specialty chemicals company’s stock worth $30,000 after purchasing an additional 624 shares in the last quarter. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on LYB shares. Morgan Stanley cut their price objective on LyondellBasell Industries from $77.00 to $72.00 and set an “overweight” rating for the company in a research report on Monday, July 20th. UBS Group decreased their target price on LyondellBasell Industries from $82.00 to $73.00 and set a “neutral” rating on the stock in a research report on Friday, June 5th. The Goldman Sachs Group lifted their price target on shares of LyondellBasell Industries from $51.00 to $75.00 and gave the company a “sell” rating in a research note on Monday, May 4th. Zacks Research lowered shares of LyondellBasell Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 1st. Finally, JPMorgan Chase & Co. raised their price target on shares of LyondellBasell Industries from $50.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $71.94.

LyondellBasell Industries Stock Performance

NYSE LYB opened at $60.30 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.54 and a quick ratio of 1.03. The company has a market cap of $19.46 billion, a P/E ratio of -24.22, a P/E/G ratio of 0.20 and a beta of 0.32. The stock has a 50-day moving average of $61.65 and a two-hundred day moving average of $63.30. LyondellBasell Industries N.V. has a 1-year low of $41.58 and a 1-year high of $83.94.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.18. The business had revenue of $7.20 billion for the quarter, compared to analysts’ expectations of $7.53 billion. LyondellBasell Industries had a negative net margin of 2.68% and a positive return on equity of 5.68%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.33 earnings per share. As a group, analysts anticipate that LyondellBasell Industries N.V. will post 8.57 EPS for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Monday, June 1st were issued a dividend of $0.69 per share. The ex-dividend date was Monday, June 1st. This represents a $2.76 dividend on an annualized basis and a yield of 4.6%. LyondellBasell Industries’s dividend payout ratio is -110.84%.

LyondellBasell Industries Profile

LyondellBasell Industries N.V. (NYSE: LYB) is a global chemical company headquartered in Houston, Texas, that specializes in the production of polyolefins and advanced polymers. Through its extensive portfolio, the company supplies raw materials for a wide range of end markets, including packaging, automotive, construction, electronics and consumer goods. By combining proprietary process technologies with expertise in catalysts, LyondellBasell aims to deliver value-added solutions that enhance product performance and sustainability.

The company’s integrated operations encompass the manufacture of olefins and polyolefins, advanced polymer products, chemical intermediates and refining activities.