LyondellBasell Industries (NYSE:LYB) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc reduced its holdings in LyondellBasell Industries (NYSE:LYB) by 9.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC boosted its stake in shares of LyondellBasell Industries by 1,171.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,132 shares of the specialty chemicals company’s stock worth $109,000 after acquiring an additional 1,043 shares in the last quarter. Blue Trust Inc. boosted its position in shares of LyondellBasell Industries by 369.0% in the 3rd quarter. Blue Trust Inc. now owns 1,407 shares of the specialty chemicals company’s stock valued at $135,000 after purchasing an additional 1,107 shares during the period. Allspring Global Investments Holdings LLC increased its stake in LyondellBasell Industries by 149.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 64,144 shares of the specialty chemicals company’s stock worth $6,151,000 after purchasing an additional 38,428 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in LyondellBasell Industries during the 3rd quarter worth about $674,000. Finally, Sequoia Financial Advisors LLC lifted its stake in LyondellBasell Industries by 45.8% during the third quarter. Sequoia Financial Advisors LLC now owns 10,459 shares of the specialty chemicals company’s stock valued at $1,003,000 after buying an additional 3,284 shares in the last quarter. 71.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

LyondellBasell Industries Trading Down 1.0 %

Shares of NYSE LYB opened at $77.42 on Thursday. The business has a 50 day simple moving average of $75.62 and a 200 day simple moving average of $85.35. LyondellBasell Industries has a 52 week low of $72.21 and a 52 week high of $107.02. The stock has a market cap of $25.14 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 0.96 and a beta of 1.05. 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 (NYSE:LYB) last posted its earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 EPS for the quarter, missing the consensus estimate 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 quarter in the prior year, the company earned $1.26 earnings per share. On average, research analysts predict that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were issued a dividend of $1.34 per share. The ex-dividend date was Monday, December 2nd. This represents a $5.36 annualized dividend and a yield of 6.92%. LyondellBasell Industries’s dividend payout ratio (DPR) is currently 129.47%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LYB. JPMorgan Chase & Co. dropped their target price on shares of LyondellBasell Industries from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Mizuho decreased their price objective on shares of LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. StockNews.com downgraded shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Morgan Stanley decreased their target price on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Finally, Royal Bank of Canada upped their price target on LyondellBasell Industries from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $88.25.

LyondellBasell Industries 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.