LyondellBasell Industries (NYSE:LYB) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its stake in LyondellBasell Industries (NYSE:LYB) by 6.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 307,496 shares of the specialty chemicals company’s stock after buying an additional 18,311 shares during the period. Principal Financial Group Inc.’s holdings in LyondellBasell Industries were worth $29,489,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of LYB. Woodmont Investment Counsel LLC grew its holdings in shares of LyondellBasell Industries by 5.3% during the third quarter. Woodmont Investment Counsel LLC now owns 67,367 shares of the specialty chemicals company’s stock worth $6,460,000 after purchasing an additional 3,408 shares during the last quarter. Concurrent Investment Advisors LLC grew its stake in LyondellBasell Industries by 20.6% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 22,824 shares of the specialty chemicals company’s stock worth $2,189,000 after buying an additional 3,900 shares during the last quarter. Centennial Wealth Advisory LLC increased its position in LyondellBasell Industries by 5.2% during the third quarter. Centennial Wealth Advisory LLC now owns 4,181 shares of the specialty chemicals company’s stock worth $401,000 after buying an additional 207 shares during the period. Foster & Motley Inc. lifted its stake in LyondellBasell Industries by 7.2% in the third quarter. Foster & Motley Inc. now owns 62,482 shares of the specialty chemicals company’s stock valued at $5,992,000 after buying an additional 4,214 shares during the last quarter. Finally, 1834 Investment Advisors Co. boosted its holdings in shares of LyondellBasell Industries by 10.4% in the third quarter. 1834 Investment Advisors Co. now owns 18,137 shares of the specialty chemicals company’s stock valued at $1,739,000 after acquiring an additional 1,707 shares during the period. 71.20% of the stock is owned by hedge funds and other institutional investors.

LyondellBasell Industries Stock Performance

Shares of LYB opened at $83.63 on Wednesday. The company has a market capitalization of $27.16 billion, a PE ratio of 12.93, a P/E/G ratio of 2.36 and a beta of 1.08. LyondellBasell Industries has a 52-week low of $83.36 and a 52-week high of $107.02. The company has a 50-day simple moving average of $92.05 and a 200-day simple moving average of $95.37. 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 posted 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). LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The company had revenue of $10.33 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same quarter in the previous year, the business posted $2.46 earnings per share. LyondellBasell Industries’s revenue was down 2.8% on a year-over-year basis. Equities research analysts predict that LyondellBasell Industries will post 7.09 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 26th were given a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a dividend yield of 6.41%. The ex-dividend date was Monday, August 26th. LyondellBasell Industries’s dividend payout ratio is currently 81.58%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Piper Sandler reduced their price target on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Wells Fargo & Company dropped their price target on LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Evercore ISI raised LyondellBasell Industries to a “hold” rating in a research report on Monday, August 5th. Mizuho cut 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, Barclays lowered their price objective on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price 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.