State Street Corp Acquires 230,327 Shares of LyondellBasell Industries (NYSE:LYB)

State Street Corp lifted its holdings in LyondellBasell Industries (NYSE:LYB) by 1.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,202,118 shares of the specialty chemicals company’s stock after purchasing an additional 230,327 shares during the quarter. State Street Corp owned 3.76% of LyondellBasell Industries worth $1,170,183,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. HighTower Advisors LLC increased its position in shares of LyondellBasell Industries by 18.2% during the 3rd quarter. HighTower Advisors LLC now owns 1,038,687 shares of the specialty chemicals company’s stock worth $99,557,000 after purchasing an additional 159,803 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of LyondellBasell Industries by 6.3% in the third quarter. Principal Financial Group Inc. now owns 307,496 shares of the specialty chemicals company’s stock valued at $29,489,000 after buying an additional 18,311 shares in the last quarter. PGGM Investments raised its position in LyondellBasell Industries by 47.9% during the second quarter. PGGM Investments now owns 22,148 shares of the specialty chemicals company’s stock worth $2,119,000 after acquiring an additional 7,168 shares in the last quarter. Quantinno Capital Management LP lifted its stake in LyondellBasell Industries by 23.1% in the third quarter. Quantinno Capital Management LP now owns 61,897 shares of the specialty chemicals company’s stock valued at $5,936,000 after acquiring an additional 11,610 shares during the last quarter. Finally, Captrust Financial Advisors grew its position in shares of LyondellBasell Industries by 4.7% in the 3rd quarter. Captrust Financial Advisors now owns 135,346 shares of the specialty chemicals company’s stock valued at $12,980,000 after acquiring an additional 6,074 shares during the period. Institutional investors and hedge funds own 71.20% of the company’s stock.

Analyst Ratings Changes

LYB has been the topic of a number of research analyst reports. Mizuho dropped their target price on shares of LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. StockNews.com upgraded LyondellBasell Industries from a “hold” rating to a “buy” rating in a research note on Saturday, November 30th. Deutsche Bank Aktiengesellschaft decreased their target price on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Piper Sandler cut their price target on LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Finally, Wells Fargo & Company dropped their price objective on shares of LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, LyondellBasell Industries has an average rating of “Hold” and an average target price of $100.70.

LyondellBasell Industries Stock Performance

Shares of NYSE:LYB opened at $76.39 on Friday. LyondellBasell Industries has a 12-month low of $75.98 and a 12-month high of $107.02. The company’s 50 day moving average price is $87.23 and its two-hundred day moving average price is $92.92. The firm has a market cap of $24.81 billion, a PE ratio of 11.63, a PEG ratio of 2.18 and a beta of 1.05. 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 issued 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). The company 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 company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.46 EPS. Equities research analysts predict that LyondellBasell Industries will post 7.09 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be given a dividend of $1.34 per share. The ex-dividend date is Monday, December 2nd. This represents a $5.36 annualized dividend and a yield of 7.02%. LyondellBasell Industries’s dividend payout ratio is 81.58%.

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.