LyondellBasell Industries N.V. $LYB Position Boosted by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its stake in shares of LyondellBasell Industries N.V. (NYSE:LYB) by 37.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 62,675 shares of the specialty chemicals company’s stock after purchasing an additional 17,041 shares during the period. CIBC Asset Management Inc’s holdings in LyondellBasell Industries were worth $2,714,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of LYB. Stance Capital LLC bought a new position in shares of LyondellBasell Industries during the third quarter worth about $27,000. Clearstead Advisors LLC lifted its holdings in LyondellBasell Industries by 140.3% in the fourth quarter. Clearstead Advisors LLC now owns 668 shares of the specialty chemicals company’s stock worth $29,000 after acquiring an additional 390 shares during the last quarter. ORG Partners LLC lifted its holdings in LyondellBasell Industries by 960.0% in the fourth quarter. ORG Partners LLC now owns 689 shares of the specialty chemicals company’s stock worth $30,000 after acquiring an additional 624 shares during the last quarter. Quarry LP bought a new position in LyondellBasell Industries in the third quarter worth about $31,000. Finally, Key Capital Management INC bought a new position in LyondellBasell Industries in the fourth quarter worth about $34,000. Institutional investors own 71.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LYB. Bank of America reissued an “underperform” rating and issued a $55.00 target price on shares of LyondellBasell Industries in a report on Monday, April 6th. Vertical Research raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Monday, March 9th. BMO Capital Markets raised their target price on shares of LyondellBasell Industries from $82.00 to $88.00 and gave the stock a “market perform” rating in a report on Tuesday, May 5th. Fermium Researc raised shares of LyondellBasell Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, March 9th. Finally, Citigroup cut their target price on shares of LyondellBasell Industries from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $76.71.

LyondellBasell Industries Price Performance

Shares of NYSE:LYB opened at $64.58 on Monday. The firm’s 50 day moving average is $72.77 and its two-hundred day moving average is $59.93. LyondellBasell Industries N.V. has a 52 week low of $41.58 and a 52 week high of $83.94. The firm has a market capitalization of $20.84 billion, a P/E ratio of -25.93, a PEG ratio of 0.15 and a beta of 0.28. The company has a current ratio of 1.54, a quick ratio of 1.03 and a debt-to-equity ratio of 1.12.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.31 by $0.18. LyondellBasell Industries had a negative net margin of 2.68% and a positive return on equity of 5.68%. The company had revenue of $7.20 billion for the quarter, compared to analyst estimates of $7.53 billion. During the same quarter last year, the business earned $0.33 earnings per share. LyondellBasell Industries’s revenue was down 6.3% compared to the same quarter last year. Analysts anticipate that LyondellBasell Industries N.V. will post 8.73 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 8th. Shareholders of record on Monday, June 1st will be paid a $0.69 dividend. The ex-dividend date is Monday, June 1st. This represents a $2.76 annualized dividend and a dividend yield of 4.3%. LyondellBasell Industries’s dividend payout ratio (DPR) is presently -110.84%.

About LyondellBasell Industries

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.