CIBC Asset Management Inc Has $6.03 Million Stake in LyondellBasell Industries (NYSE:LYB)

CIBC Asset Management Inc reduced its holdings in LyondellBasell Industries (NYSE:LYB) by 9.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 81,227 shares of the specialty chemicals company’s stock after selling 8,286 shares during the quarter. CIBC Asset Management Inc’s holdings in LyondellBasell Industries were worth $6,033,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in LYB. Webster Bank N. A. grew its holdings in LyondellBasell Industries by 70.4% in the 4th quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 143 shares during the last quarter. Rosenberg Matthew Hamilton boosted its position in shares of LyondellBasell Industries by 268.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 405 shares of the specialty chemicals company’s stock valued at $30,000 after acquiring an additional 295 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of LyondellBasell Industries in the third quarter worth $31,000. Fortitude Family Office LLC grew its stake in shares of LyondellBasell Industries by 162.0% in the third quarter. Fortitude Family Office LLC now owns 469 shares of the specialty chemicals company’s stock worth $45,000 after acquiring an additional 290 shares during the last quarter. Finally, Pinnacle Bancorp Inc. bought a new position in LyondellBasell Industries during the fourth quarter worth $59,000. 71.20% of the stock is currently owned by institutional investors.

LyondellBasell Industries Stock Down 1.0 %

Shares of NYSE:LYB opened at $77.42 on Thursday. The company’s fifty day moving average is $75.62 and its 200-day moving average is $85.35. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.13 and a current ratio of 1.83. LyondellBasell Industries has a 52 week low of $72.21 and a 52 week high of $107.02. The company has a market capitalization of $25.14 billion, a PE ratio of 18.70, a P/E/G ratio of 0.96 and a beta of 1.05.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.53). LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. During the same quarter last year, the business earned $1.26 earnings per share. Equities research analysts predict that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were given a $1.34 dividend. The ex-dividend date was Monday, December 2nd. This represents a $5.36 annualized dividend and a yield of 6.92%. LyondellBasell Industries’s payout ratio is 129.47%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LYB. Royal Bank of Canada increased their price target on shares of LyondellBasell Industries from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, February 4th. 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 research report on Monday, November 4th. Barclays cut their price target on LyondellBasell Industries from $90.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Wells Fargo & Company decreased their price objective on LyondellBasell Industries from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Finally, UBS Group cut their target price on LyondellBasell Industries from $77.00 to $76.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $88.25.

Insiders Place Their Bets

In related news, Director Robin W.T. Buchanan acquired 5,000 shares of the stock in a transaction on Friday, December 13th. The stock was purchased at an average price of $76.06 per share, for a total transaction of $380,300.00. Following the transaction, the director now owns 18,175 shares of the company’s stock, valued at $1,382,390.50. The trade was a 37.95 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.11% of the company’s stock.

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.