Cibc World Markets Corp Has $10.46 Million Stock Position in LyondellBasell Industries (NYSE:LYB)

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

Several other hedge funds also recently modified their holdings of the company. Amundi grew its holdings in LyondellBasell Industries by 48.6% during the 4th quarter. Amundi now owns 3,858,033 shares of the specialty chemicals company’s stock worth $283,452,000 after acquiring an additional 1,260,913 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of LyondellBasell Industries in the fourth quarter worth $69,115,000. Jacobs Levy Equity Management Inc. increased its holdings in LyondellBasell Industries by 211.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,283,163 shares of the specialty chemicals company’s stock valued at $123,055,000 after purchasing an additional 871,708 shares during the period. Charles Schwab Investment Management Inc. raised its position in LyondellBasell Industries by 7.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,582,119 shares of the specialty chemicals company’s stock worth $637,394,000 after purchasing an additional 558,137 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in LyondellBasell Industries by 11.4% during the 3rd quarter. Franklin Resources Inc. now owns 2,875,267 shares of the specialty chemicals company’s stock worth $268,664,000 after buying an additional 293,622 shares during the period. Institutional investors and hedge funds own 71.20% of the company’s stock.

LyondellBasell Industries Stock Down 0.2 %

Shares of NYSE:LYB opened at $75.03 on Wednesday. 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 $71.81 and a 52-week high of $107.02. The business’s 50 day simple moving average is $76.13 and its two-hundred day simple moving average is $82.43. The firm has a market cap of $24.27 billion, a P/E ratio of 18.12, a PEG ratio of 0.97 and a beta of 1.06.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results 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 prior year, the firm earned $1.26 earnings per share. As a group, research analysts forecast that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given 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 presently 129.47%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LYB. Barclays decreased their price target on 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. JPMorgan Chase & Co. lowered their price target on shares of LyondellBasell Industries from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. UBS Group dropped their price target on shares of LyondellBasell Industries from $77.00 to $76.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. StockNews.com cut shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Finally, Piper Sandler dropped their target price on shares of LyondellBasell Industries from $95.00 to $84.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $88.25.

Insider Buying and Selling

In related news, Director Michael Sean Hanley purchased 3,750 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average price of $72.05 per share, for a total transaction of $270,187.50. Following the completion of the acquisition, the director now owns 16,028 shares of the company’s stock, valued at $1,154,817.40. This represents a 30.54 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.11% of the stock is currently owned by company insiders.

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.