CIBC Private Wealth Group LLC Has $851,000 Stake in LyondellBasell Industries (NYSE:LYB)

CIBC Private Wealth Group LLC raised its position in shares of LyondellBasell Industries (NYSE:LYB) by 81.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,648 shares of the specialty chemicals company’s stock after purchasing an additional 5,229 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in LyondellBasell Industries were worth $851,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Amundi raised its position in LyondellBasell Industries by 48.6% during the fourth quarter. Amundi now owns 3,858,033 shares of the specialty chemicals company’s stock valued at $283,452,000 after buying an additional 1,260,913 shares during the period. Norges Bank acquired a new stake in shares of LyondellBasell Industries during the fourth quarter worth approximately $81,015,000. Raymond James Financial Inc. purchased a new position in LyondellBasell Industries during the fourth quarter valued at approximately $69,115,000. Charles Schwab Investment Management Inc. increased its stake in LyondellBasell Industries by 7.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,582,119 shares of the specialty chemicals company’s stock valued at $637,394,000 after buying an additional 558,137 shares during the period. Finally, Schroder Investment Management Group lifted its position in LyondellBasell Industries by 88.7% in the 4th quarter. Schroder Investment Management Group now owns 871,574 shares of the specialty chemicals company’s stock worth $64,732,000 after buying an additional 409,633 shares in the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LYB. The Goldman Sachs Group cut 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. StockNews.com downgraded LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Morgan Stanley reduced their price objective on shares of LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Wells Fargo & Company lowered their price objective on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Barclays reduced their target price on LyondellBasell Industries from $80.00 to $72.00 and set an “equal weight” rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, LyondellBasell Industries currently has an average rating of “Hold” and a consensus target price of $82.33.

Insider Buying and Selling at LyondellBasell Industries

In other news, Director Michael Sean Hanley acquired 3,750 shares of the stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average cost of $72.05 per share, for a total transaction of $270,187.50. Following the completion of the transaction, the director now owns 16,028 shares in the company, valued at approximately $1,154,817.40. This trade represents a 30.54 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.11% of the company’s stock.

LyondellBasell Industries Stock Down 8.1 %

LYB opened at $57.98 on Friday. LyondellBasell Industries has a 1-year low of $57.57 and a 1-year high of $107.02. The business has a 50 day moving average of $74.48 and a 200-day moving average of $80.33. The stock has a market capitalization of $18.75 billion, a price-to-earnings ratio of 14.00, a P/E/G ratio of 0.97 and a beta of 0.89. The company has a current ratio of 1.83, a quick ratio of 1.13 and a debt-to-equity ratio of 0.84.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share 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 in the prior year, the company earned $1.26 earnings per share. As a group, sell-side analysts anticipate that LyondellBasell Industries will post 6.31 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a dividend of $1.34 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.36 annualized dividend and a yield of 9.24%. LyondellBasell Industries’s dividend payout ratio is 129.47%.

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.