Pinnacle Associates Ltd. Has $2.17 Million Stock Position in LyondellBasell Industries N.V. (NYSE:LYB)

Pinnacle Associates Ltd. raised its holdings in LyondellBasell Industries N.V. (NYSE:LYB) by 30.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 30,817 shares of the specialty chemicals company’s stock after acquiring an additional 7,263 shares during the quarter. Pinnacle Associates Ltd.’s holdings in LyondellBasell Industries were worth $2,170,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Unison Advisors LLC increased its position in LyondellBasell Industries by 1.7% in the 1st quarter. Unison Advisors LLC now owns 41,267 shares of the specialty chemicals company’s stock valued at $2,905,000 after acquiring an additional 703 shares during the period. Abel Hall LLC acquired a new stake in shares of LyondellBasell Industries during the first quarter worth $267,000. Vestor Capital LLC increased its position in shares of LyondellBasell Industries by 3.7% during the first quarter. Vestor Capital LLC now owns 34,331 shares of the specialty chemicals company’s stock worth $2,417,000 after buying an additional 1,234 shares during the period. Oak Thistle LLC acquired a new stake in shares of LyondellBasell Industries during the first quarter worth $1,782,000. Finally, Old Port Advisors increased its position in shares of LyondellBasell Industries by 6.2% during the first quarter. Old Port Advisors now owns 25,311 shares of the specialty chemicals company’s stock worth $1,782,000 after buying an additional 1,477 shares during the period. 71.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LYB has been the subject of several recent analyst reports. Wells Fargo & Company increased their price objective on shares of LyondellBasell Industries from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, July 14th. Wall Street Zen cut shares of LyondellBasell Industries from a “hold” rating to a “sell” rating in a research report on Monday, April 28th. Piper Sandler decreased their price objective on shares of LyondellBasell Industries from $67.00 to $66.00 and set a “neutral” rating for the company in a research report on Thursday, May 1st. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $60.00 price objective (down from $80.00) on shares of LyondellBasell Industries in a research report on Friday, April 4th. Finally, Citigroup decreased their price objective on shares of LyondellBasell Industries from $58.00 to $56.00 in a research report on Wednesday, June 11th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $66.00.

LyondellBasell Industries Trading Up 5.5%

NYSE:LYB opened at $64.06 on Friday. LyondellBasell Industries N.V. has a 12 month low of $51.11 and a 12 month high of $100.46. The stock has a market capitalization of $20.59 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 3.60 and a beta of 0.82. The firm has a fifty day simple moving average of $59.95 and a two-hundred day simple moving average of $65.81. The company has a current ratio of 1.83, a quick ratio of 1.04 and a debt-to-equity ratio of 0.87.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, April 25th. The specialty chemicals company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). LyondellBasell Industries had a net margin of 2.81% and a return on equity of 13.19%. The business had revenue of $7.68 billion during the quarter, compared to the consensus estimate of $7.69 billion. During the same period last year, the business posted $1.53 earnings per share. The firm’s quarterly revenue was down 7.6% on a year-over-year basis. Analysts expect that LyondellBasell Industries N.V. will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Monday, June 2nd were paid a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 8.56%. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $1.34. The ex-dividend date of this dividend was Monday, June 2nd. LyondellBasell Industries’s dividend payout ratio (DPR) is 169.14%.

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.