Cibc World Markets Corp Increases Position in LyondellBasell Industries (NYSE:LYB)

Cibc World Markets Corp increased its holdings in LyondellBasell Industries (NYSE:LYB) by 298.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 140,806 shares of the specialty chemicals company’s stock after acquiring an additional 105,506 shares during the period. Cibc World Markets Corp’s holdings in LyondellBasell Industries were worth $10,458,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Oppenheimer Asset Management Inc. raised its stake in shares of LyondellBasell Industries by 15.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 2,432 shares of the specialty chemicals company’s stock worth $233,000 after purchasing an additional 320 shares during the period. Oppenheimer & Co. Inc. increased its holdings in LyondellBasell Industries by 4.9% during the third quarter. Oppenheimer & Co. Inc. now owns 14,056 shares of the specialty chemicals company’s stock worth $1,348,000 after buying an additional 651 shares during the last quarter. Natixis Advisors LLC raised its position in LyondellBasell Industries by 8.4% in the third quarter. Natixis Advisors LLC now owns 108,009 shares of the specialty chemicals company’s stock worth $10,358,000 after acquiring an additional 8,331 shares during the period. Thrivent Financial for Lutherans boosted its stake in LyondellBasell Industries by 3.3% in the third quarter. Thrivent Financial for Lutherans now owns 17,297 shares of the specialty chemicals company’s stock valued at $1,659,000 after acquiring an additional 559 shares during the last quarter. Finally, Swiss National Bank grew its position in shares of LyondellBasell Industries by 0.3% during the 3rd quarter. Swiss National Bank now owns 773,100 shares of the specialty chemicals company’s stock valued at $74,140,000 after acquiring an additional 2,300 shares during the period. 71.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Michael Sean Hanley purchased 3,750 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average price of $72.05 per share, with a total value of $270,187.50. Following the acquisition, the director now directly owns 16,028 shares of the company’s stock, valued at approximately $1,154,817.40. This represents a 30.54 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on LYB shares. Mizuho dropped their price objective on LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. StockNews.com cut LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. The Goldman Sachs Group decreased their price objective on LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating for the company in a report on Thursday, December 12th. Royal Bank of Canada upped their price objective 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. Finally, Barclays reduced their target price on shares of LyondellBasell Industries from $90.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $88.25.

LyondellBasell Industries Stock Performance

NYSE LYB opened at $75.03 on Wednesday. The company’s 50 day simple moving average is $76.13 and its two-hundred day simple moving average is $82.43. The stock has a market capitalization of $24.27 billion, a PE ratio of 18.12, a P/E/G ratio of 0.97 and a beta of 1.06. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.83 and a quick ratio of 1.13. LyondellBasell Industries has a 1 year low of $71.81 and a 1 year high of $107.02.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.53). LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. During the same period in the previous year, the company posted $1.26 earnings per share. 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, March 17th. Stockholders of record on Monday, March 10th were issued a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a dividend yield of 7.14%. The ex-dividend date of this dividend was Monday, March 10th. LyondellBasell Industries’s payout ratio is 129.47%.

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.