Principal Financial Group Inc. Raises Stock Holdings in LyondellBasell Industries (NYSE:LYB)

Principal Financial Group Inc. increased its position in LyondellBasell Industries (NYSE:LYB - Free Report) by 6.3% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 307,496 shares of the specialty chemicals company's stock after purchasing an additional 18,311 shares during the period. Principal Financial Group Inc. owned about 0.09% of LyondellBasell Industries worth $29,489,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LYB. Pacer Advisors Inc. increased its stake in LyondellBasell Industries by 13.6% during the 2nd 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. Dimensional Fund Advisors LP grew its stake in shares of LyondellBasell Industries by 3.8% during the second quarter. Dimensional Fund Advisors LP now owns 4,695,361 shares of the specialty chemicals company's stock worth $449,175,000 after buying an additional 170,464 shares during the last quarter. Capital World Investors increased its holdings in shares of LyondellBasell Industries by 28.9% during 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 in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of LyondellBasell Industries by 0.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,065,083 shares of the specialty chemicals company's stock valued at $101,886,000 after acquiring an additional 6,760 shares during the last quarter. Finally, Raymond James & Associates boosted its position in LyondellBasell Industries by 0.4% during the 3rd quarter. Raymond James & Associates now owns 912,538 shares of the specialty chemicals company's stock worth $87,512,000 after buying an additional 3,394 shares during the period. 71.20% of the stock is owned by hedge funds and other institutional investors.

LyondellBasell Industries Stock Performance

Shares of NYSE LYB traded up $0.02 during trading hours on Wednesday, reaching $83.62. 459,333 shares of the stock were exchanged, compared to its average volume of 1,864,334. The stock's fifty day simple moving average is $91.81 and its 200 day simple moving average is $95.24. The firm has a market capitalization of $27.16 billion, a price-to-earnings ratio of 12.72, a P/E/G ratio of 2.33 and a beta of 1.08. LyondellBasell Industries has a 52 week low of $83.05 and a 52 week high of $107.02. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.25 and a current ratio of 2.13.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last released its quarterly earnings data on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing the consensus estimate of $1.98 by ($0.10). The business had revenue of $10.33 billion for the quarter, compared to analyst estimates of $10.60 billion. LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The business's quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.46 EPS. Sell-side analysts predict that LyondellBasell Industries will post 7.09 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 26th were given a $1.34 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $5.36 annualized dividend and a yield of 6.41%. LyondellBasell Industries's dividend payout ratio (DPR) is presently 81.58%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on LYB. Evercore ISI upgraded LyondellBasell Industries to a "hold" rating in a report on Monday, August 5th. Piper Sandler lowered their price objective on 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 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. StockNews.com lowered shares of LyondellBasell Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada lowered their price target on shares of LyondellBasell Industries from $110.00 to $104.00 and set an "outperform" rating for the company in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, LyondellBasell Industries has an average rating of "Hold" and an average target price of $101.70.

LyondellBasell Industries Profile

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.