Principal Financial Group Inc. trimmed its position in LyondellBasell Industries (NYSE:LYB – Get Rating) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 320,591 shares of the specialty chemicals company’s stock after selling 11,746 shares during the quarter. Principal Financial Group Inc. owned 0.10% of LyondellBasell Industries worth $29,568,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in LYB. Wellington Management Group LLP grew its stake in shares of LyondellBasell Industries by 164.1% during the third quarter. Wellington Management Group LLP now owns 8,182,031 shares of the specialty chemicals company’s stock worth $767,884,000 after buying an additional 5,083,693 shares during the last quarter. Marathon Asset Mgmt Ltd bought a new stake in shares of LyondellBasell Industries during the fourth quarter worth $85,807,000. Renaissance Technologies LLC bought a new stake in shares of LyondellBasell Industries during the third quarter worth $45,376,000. AXA S.A. grew its stake in shares of LyondellBasell Industries by 312.3% during the third quarter. AXA S.A. now owns 605,350 shares of the specialty chemicals company’s stock worth $56,812,000 after buying an additional 458,535 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its stake in shares of LyondellBasell Industries by 228.8% during the third quarter. Allianz Asset Management GmbH now owns 653,026 shares of the specialty chemicals company’s stock worth $61,287,000 after buying an additional 454,429 shares during the last quarter. 69.64% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have weighed in on LYB. Atlantic Securities cut shares of LyondellBasell Industries from an “overweight” rating to a “neutral” rating and set a $113.00 target price on the stock. in a research note on Tuesday, January 18th. Bank of America cut shares of LyondellBasell Industries from a “neutral” rating to an “underperform” rating and boosted their price objective for the stock from $107.00 to $108.00 in a research note on Tuesday, March 22nd. Wells Fargo & Company boosted their price objective on shares of LyondellBasell Industries from $120.00 to $125.00 in a research note on Monday, May 2nd. Zacks Investment Research cut shares of LyondellBasell Industries from a “hold” rating to a “sell” rating and set a $105.00 price objective on the stock. in a research note on Thursday, February 3rd. Finally, Mizuho boosted their price objective on shares of LyondellBasell Industries from $125.00 to $132.00 in a research note on Tuesday, May 3rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $112.44.
LyondellBasell Industries (NYSE:LYB – Get Rating) last announced its quarterly earnings data on Friday, April 29th. The specialty chemicals company reported $4.00 earnings per share for the quarter, beating the consensus estimate of $3.48 by $0.52. LyondellBasell Industries had a net margin of 11.68% and a return on equity of 54.14%. The firm had revenue of $13.16 billion for the quarter, compared to analyst estimates of $12.67 billion. During the same quarter in the prior year, the business earned $3.18 earnings per share. The business’s quarterly revenue was up 44.9% compared to the same quarter last year. Equities research analysts forecast that LyondellBasell Industries will post 17.12 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 14th. Stockholders of record on Monday, March 7th were issued a dividend of $1.13 per share. The ex-dividend date of this dividend was Friday, March 4th. This represents a $4.52 annualized dividend and a dividend yield of 4.24%. LyondellBasell Industries’s dividend payout ratio is currently 25.74%.
About LyondellBasell Industries (Get Rating)
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.
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