Principal Financial Group Inc. Has $27.66 Million Stock Position in LyondellBasell Industries (NYSE:LYB)

Principal Financial Group Inc. cut its position in LyondellBasell Industries (NYSE:LYB) by 1.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 289,185 shares of the specialty chemicals company’s stock after selling 5,628 shares during the quarter. Principal Financial Group Inc.’s holdings in LyondellBasell Industries were worth $27,663,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Spire Wealth Management boosted its holdings in shares of LyondellBasell Industries by 4.2% in the 1st quarter. Spire Wealth Management now owns 2,534 shares of the specialty chemicals company’s stock worth $259,000 after acquiring an additional 102 shares in the last quarter. Lantz Financial LLC boosted its stake in LyondellBasell Industries by 3.6% in the first quarter. Lantz Financial LLC now owns 3,174 shares of the specialty chemicals company’s stock worth $325,000 after purchasing an additional 109 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC grew its holdings in shares of LyondellBasell Industries by 1.2% during the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 9,567 shares of the specialty chemicals company’s stock worth $910,000 after purchasing an additional 114 shares during the last quarter. Metis Global Partners LLC increased its stake in shares of LyondellBasell Industries by 0.9% in the fourth quarter. Metis Global Partners LLC now owns 13,264 shares of the specialty chemicals company’s stock valued at $1,261,000 after buying an additional 115 shares in the last quarter. Finally, Verdence Capital Advisors LLC raised its stake in shares of LyondellBasell Industries by 0.9% in the second quarter. Verdence Capital Advisors LLC now owns 13,905 shares of the specialty chemicals company’s stock worth $1,330,000 after acquiring an additional 120 shares during the last quarter. 71.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on LYB shares. Wells Fargo & Company reduced their price objective on LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. UBS Group decreased their price target on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. JPMorgan Chase & Co. boosted their price objective on LyondellBasell Industries from $110.00 to $113.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Barclays raised their target price on shares of LyondellBasell Industries from $100.00 to $104.00 and gave the company an “equal weight” rating in a research note on Monday, May 6th. Finally, Evercore ISI upgraded shares of LyondellBasell Industries to a “hold” rating in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $107.55.

LyondellBasell Industries Stock Up 0.5 %

Shares of NYSE:LYB opened at $98.70 on Monday. The company has a 50 day moving average price of $96.31 and a two-hundred day moving average price of $98.43. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.28 and a current ratio of 2.10. The company has a market capitalization of $32.09 billion, a PE ratio of 15.26, a PEG ratio of 1.33 and a beta of 1.09. LyondellBasell Industries has a 52 week low of $88.46 and a 52 week high of $107.02.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, August 2nd. The specialty chemicals company reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.01. LyondellBasell Industries had a net margin of 5.68% and a return on equity of 18.63%. The business had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.44 billion. During the same quarter in the prior year, the company earned $2.44 EPS. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. Analysts forecast that LyondellBasell Industries will post 8.11 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th will be issued a dividend of $1.34 per share. The ex-dividend date of this dividend is Monday, August 26th. This represents a $5.36 annualized dividend and a yield of 5.43%. LyondellBasell Industries’s dividend payout ratio (DPR) is currently 82.84%.

LyondellBasell Industries Company 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.