CIBC Bancorp USA Inc. Buys Shares of 157,070 LyondellBasell Industries N.V. $LYB

CIBC Bancorp USA Inc. acquired a new position in shares of LyondellBasell Industries N.V. (NYSE:LYB) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 157,070 shares of the specialty chemicals company’s stock, valued at approximately $7,703,000.

Several other large investors have also recently added to or reduced their stakes in LYB. Parvin Asset Management LLC acquired a new stake in shares of LyondellBasell Industries in the second quarter valued at approximately $26,000. Capital A Wealth Management LLC raised its stake in shares of LyondellBasell Industries by 6,314.3% in the 2nd quarter. Capital A Wealth Management LLC now owns 449 shares of the specialty chemicals company’s stock worth $26,000 after buying an additional 442 shares in the last quarter. Stance Capital LLC acquired a new stake in LyondellBasell Industries in the 3rd quarter valued at about $27,000. EMC Capital Management acquired a new stake in LyondellBasell Industries during the second quarter valued at approximately $29,000. Finally, Quent Capital LLC acquired a new stake in shares of LyondellBasell Industries during the third quarter worth $29,000. 71.20% of the stock is owned by institutional investors and hedge funds.

LyondellBasell Industries Price Performance

NYSE LYB opened at $73.30 on Friday. The firm’s 50 day moving average is $58.08 and its 200-day moving average is $50.84. LyondellBasell Industries N.V. has a 12-month low of $41.58 and a 12-month high of $77.36. The company has a quick ratio of 1.20, a current ratio of 1.77 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $23.62 billion, a PE ratio of -31.46, a price-to-earnings-growth ratio of 0.64 and a beta of 0.64.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, January 30th. The specialty chemicals company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.44). LyondellBasell Industries had a positive return on equity of 4.93% and a negative net margin of 2.46%.The company had revenue of $7.09 billion for the quarter, compared to analyst estimates of $6.82 billion. During the same period last year, the firm earned $0.75 EPS. The firm’s revenue for the quarter was down 9.2% compared to the same quarter last year. Equities research analysts anticipate that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 9th. Investors of record on Monday, March 2nd were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Monday, March 2nd. LyondellBasell Industries’s payout ratio is presently -118.45%.

Analyst Ratings Changes

LYB has been the subject of a number of recent analyst reports. Fermium Researc raised shares of LyondellBasell Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 9th. Wolfe Research reduced their target price on shares of LyondellBasell Industries from $39.00 to $38.00 and set an “underperform” rating for the company in a research note on Monday, February 2nd. BMO Capital Markets upgraded LyondellBasell Industries from an “underperform” rating to a “market perform” rating and upped their price target for the stock from $38.00 to $68.00 in a research note on Thursday, March 5th. Wells Fargo & Company raised their target price on shares of LyondellBasell Industries from $48.00 to $70.00 and gave the company an “equal weight” rating in a research note on Friday, March 13th. Finally, Mizuho lifted their price target on LyondellBasell Industries from $49.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, LyondellBasell Industries has a consensus rating of “Hold” and a consensus target price of $64.44.

Insider Transactions at LyondellBasell Industries

In other LyondellBasell Industries news, major shareholder Ai Investments Holdings Llc sold 384,548 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $68.13, for a total transaction of $26,199,255.24. Following the sale, the insider directly owned 5,270,918 shares of the company’s stock, valued at approximately $359,107,643.34. This represents a 6.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.14% of the company’s stock.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. (NYSE: LYB) is a global chemical company headquartered in Houston, Texas, that specializes in the production of polyolefins and advanced polymers. Through its extensive portfolio, the company supplies raw materials for a wide range of end markets, including packaging, automotive, construction, electronics and consumer goods. By combining proprietary process technologies with expertise in catalysts, LyondellBasell aims to deliver value-added solutions that enhance product performance and sustainability.

The company’s integrated operations encompass the manufacture of olefins and polyolefins, advanced polymer products, chemical intermediates and refining activities.