Daiwa Securities Group Inc. Boosts Position in LyondellBasell Industries (NYSE:LYB)

Daiwa Securities Group Inc. grew its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 12.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 31,802 shares of the specialty chemicals company’s stock after purchasing an additional 3,453 shares during the period. Daiwa Securities Group Inc.’s holdings in LyondellBasell Industries were worth $3,050,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in shares of LyondellBasell Industries by 6.3% during the 3rd 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 during the period. Foresight Capital Management Advisors Inc. purchased a new stake in LyondellBasell Industries during the 2nd quarter worth $1,416,000. PGGM Investments boosted its position in LyondellBasell Industries by 47.9% in the 2nd quarter. PGGM Investments now owns 22,148 shares of the specialty chemicals company’s stock valued at $2,119,000 after buying an additional 7,168 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of LyondellBasell Industries during the third quarter valued at about $14,822,000. Finally, Cetera Advisors LLC increased its position in shares of LyondellBasell Industries by 99.6% during the first quarter. Cetera Advisors LLC now owns 45,048 shares of the specialty chemicals company’s stock worth $4,608,000 after acquiring an additional 22,476 shares during the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Piper Sandler reduced 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. Wells Fargo & Company reduced their target price on LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. StockNews.com lowered shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Friday, November 22nd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Finally, Mizuho decreased their target price on LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, LyondellBasell Industries has an average rating of “Hold” and a consensus price target of $101.70.

LyondellBasell Industries Stock Performance

Shares of NYSE LYB opened at $83.04 on Thursday. The stock has a 50 day simple moving average of $89.36 and a 200-day simple moving average of $93.92. The company has a current ratio of 2.13, a quick ratio of 1.25 and a debt-to-equity ratio of 0.81. The company has a market cap of $26.97 billion, a PE ratio of 12.64, a P/E/G ratio of 2.35 and a beta of 1.08. LyondellBasell Industries has a 12-month low of $81.45 and a 12-month high of $107.02.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 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 the consensus estimate of $10.60 billion. LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.46 earnings per share. On average, equities research analysts forecast that LyondellBasell Industries will post 7.09 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders 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 dividend yield of 6.45%. LyondellBasell Industries’s dividend payout ratio (DPR) is 81.58%.

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.