SouthState Corp Sells 1,040 Shares of LyondellBasell Industries (NYSE:LYB)

SouthState Corp cut its holdings in LyondellBasell Industries (NYSE:LYB) by 14.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,017 shares of the specialty chemicals company’s stock after selling 1,040 shares during the period. SouthState Corp’s holdings in LyondellBasell Industries were worth $577,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its holdings in LyondellBasell Industries by 6.3% during the 3rd quarter. Principal Financial Group Inc. now owns 307,496 shares of the specialty chemicals company’s stock valued at $29,489,000 after acquiring an additional 18,311 shares during the period. Foresight Capital Management Advisors Inc. bought a new position in shares of LyondellBasell Industries in the second quarter worth approximately $1,416,000. PGGM Investments grew its holdings in shares of LyondellBasell Industries by 47.9% in the second quarter. PGGM Investments now owns 22,148 shares of the specialty chemicals company’s stock worth $2,119,000 after purchasing an additional 7,168 shares during the last quarter. Capital World Investors increased its stake in shares of LyondellBasell Industries by 28.9% in the first quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company’s stock worth $273,671,000 after buying an additional 600,554 shares during the period. Finally, Bessemer Group Inc. boosted its position in LyondellBasell Industries by 99.4% during the 1st 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. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LYB has been the topic of a number of analyst reports. Piper Sandler decreased their price objective on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Barclays reduced their price target on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a report on Monday, November 4th. JPMorgan Chase & Co. cut their price objective on LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Mizuho dropped their price target on LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Finally, StockNews.com upgraded shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $101.70.

LyondellBasell Industries Trading Down 1.2 %

LyondellBasell Industries stock opened at $82.20 on Wednesday. LyondellBasell Industries has a 12 month low of $81.91 and a 12 month high of $107.02. The company has a market capitalization of $26.70 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 2.31 and a beta of 1.08. The business’s fifty day simple moving average is $90.67 and its two-hundred day simple moving average is $94.64. The company has a current ratio of 2.13, a quick ratio of 1.25 and a debt-to-equity ratio of 0.81.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). The firm 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.46 EPS. As a group, equities analysts predict that LyondellBasell Industries will post 7.09 earnings per share for the current fiscal year.

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.