PNC Financial Services Group Inc. Sells 2,142 Shares of LyondellBasell Industries (NYSE:LYB)

PNC Financial Services Group Inc. trimmed its position in LyondellBasell Industries (NYSE:LYB) by 2.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,021 shares of the specialty chemicals company’s stock after selling 2,142 shares during the quarter. PNC Financial Services Group Inc.’s holdings in LyondellBasell Industries were worth $8,537,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ilex Capital Partners UK LLP bought a new position in shares of LyondellBasell Industries during the 1st quarter worth about $61,327,000. Pacer Advisors Inc. raised its position in LyondellBasell Industries by 13.6% in the second quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock worth $461,930,000 after purchasing an additional 579,300 shares in the last quarter. Ensign Peak Advisors Inc lifted its stake in LyondellBasell Industries by 80.7% during the second quarter. Ensign Peak Advisors Inc now owns 779,040 shares of the specialty chemicals company’s stock worth $74,523,000 after purchasing an additional 347,877 shares during the period. WINTON GROUP Ltd acquired a new stake in LyondellBasell Industries during the second quarter valued at approximately $17,683,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of LyondellBasell Industries by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,695,361 shares of the specialty chemicals company’s stock valued at $449,175,000 after purchasing an additional 170,464 shares during the period. 71.20% of the stock is owned by institutional investors.

LyondellBasell Industries Trading Up 1.3 %

LYB stock opened at $83.88 on Friday. The business has a fifty day moving average of $90.03 and a 200-day moving average of $94.36. The company has a market cap of $27.24 billion, a P/E ratio of 12.77, a PEG ratio of 2.30 and a beta of 1.08. LyondellBasell Industries has a twelve month low of $81.45 and a twelve month high of $107.02. The company has a quick ratio of 1.25, a current ratio of 2.13 and a debt-to-equity ratio of 0.81.

LyondellBasell Industries (NYSE:LYB) last issued 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 business had revenue of $10.33 billion during the quarter, compared to the consensus estimate of $10.60 billion. LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period last year, the business posted $2.46 EPS. As a group, equities research analysts expect that LyondellBasell Industries will post 7.09 EPS for the current year.

LyondellBasell Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be paid a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a dividend yield of 6.39%. The ex-dividend date is Monday, December 2nd. LyondellBasell Industries’s dividend payout ratio (DPR) is currently 81.58%.

Analyst Ratings Changes

LYB has been the subject of several analyst reports. Wells Fargo & Company cut their target price on LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. StockNews.com lowered shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Friday. Evercore ISI raised shares of LyondellBasell Industries to a “hold” rating in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Finally, Royal Bank of Canada cut their target price on shares of LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, LyondellBasell Industries has a consensus rating of “Hold” and a consensus price target of $101.70.

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.