Principal Financial Group Inc. Purchases 16,237 Shares of LyondellBasell Industries N.V. (NYSE:LYB)

Principal Financial Group Inc. lifted its stake in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 5.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 316,402 shares of the specialty chemicals company's stock after acquiring an additional 16,237 shares during the period. Principal Financial Group Inc. owned approximately 0.10% of LyondellBasell Industries worth $22,275,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rossby Financial LCC acquired a new stake in shares of LyondellBasell Industries in the first quarter worth $25,000. JFS Wealth Advisors LLC grew its stake in shares of LyondellBasell Industries by 352.3% in the first quarter. JFS Wealth Advisors LLC now owns 398 shares of the specialty chemicals company's stock worth $28,000 after acquiring an additional 310 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of LyondellBasell Industries by 84.9% in the fourth quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company's stock worth $34,000 after acquiring an additional 214 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in LyondellBasell Industries in the fourth quarter worth $37,000. Finally, Covestor Ltd boosted its stake in LyondellBasell Industries by 107.6% during the fourth quarter. Covestor Ltd now owns 548 shares of the specialty chemicals company's stock worth $41,000 after buying an additional 284 shares in the last quarter. Institutional investors and hedge funds own 71.20% of the company's stock.

LyondellBasell Industries Price Performance

Shares of LyondellBasell Industries stock traded down $0.72 during trading on Friday, reaching $64.60. The company's stock had a trading volume of 2,539,849 shares, compared to its average volume of 2,976,273. The stock has a 50-day moving average price of $58.86 and a two-hundred day moving average price of $66.51. The company has a current ratio of 1.83, a quick ratio of 1.04 and a debt-to-equity ratio of 0.87. LyondellBasell Industries N.V. has a one year low of $51.11 and a one year high of $100.46. The stock has a market capitalization of $20.76 billion, a P/E ratio of 19.94, a price-to-earnings-growth ratio of 2.76 and a beta of 0.82.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The specialty chemicals company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). LyondellBasell Industries had a net margin of 2.81% and a return on equity of 13.19%. The business had revenue of $7.68 billion during the quarter, compared to the consensus estimate of $7.69 billion. During the same period in the prior year, the firm earned $1.53 earnings per share. The business's quarterly revenue was down 7.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that LyondellBasell Industries N.V. will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Monday, June 2nd were issued a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 8.48%. This is a boost from LyondellBasell Industries's previous quarterly dividend of $1.34. The ex-dividend date of this dividend was Monday, June 2nd. LyondellBasell Industries's payout ratio is currently 169.14%.

Analyst Ratings Changes

LYB has been the topic of a number of recent research reports. Bank Of America (Bofa) decreased their price target on shares of LyondellBasell Industries from $56.00 to $55.00 in a research note on Monday, June 30th. Barclays decreased their price target on shares of LyondellBasell Industries from $72.00 to $62.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company decreased their price target on shares of LyondellBasell Industries from $90.00 to $85.00 and set an "overweight" rating on the stock in a research note on Friday, April 4th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $60.00 price target (down previously from $80.00) on shares of LyondellBasell Industries in a research note on Friday, April 4th. Finally, Piper Sandler decreased their price target on shares of LyondellBasell Industries from $67.00 to $66.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $68.15.

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.