CIBC Private Wealth Group LLC Acquires 5,229 Shares of LyondellBasell Industries (NYSE:LYB)

CIBC Private Wealth Group LLC grew its position in LyondellBasell Industries (NYSE:LYB - Free Report) by 81.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,648 shares of the specialty chemicals company's stock after purchasing an additional 5,229 shares during the period. CIBC Private Wealth Group LLC's holdings in LyondellBasell Industries were worth $851,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of LYB. Webster Bank N. A. increased its holdings in shares of LyondellBasell Industries by 70.4% during the 4th quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company's stock valued at $26,000 after acquiring an additional 143 shares during the last quarter. Rosenberg Matthew Hamilton increased its holdings in shares of LyondellBasell Industries by 268.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 405 shares of the specialty chemicals company's stock valued at $30,000 after acquiring an additional 295 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of LyondellBasell Industries during the 4th quarter valued at about $37,000. Pinnacle Bancorp Inc. bought a new stake in LyondellBasell Industries during the 4th quarter valued at approximately $59,000. Finally, Crews Bank & Trust bought a new stake in LyondellBasell Industries during the 4th quarter valued at approximately $85,000. 71.20% of the stock is owned by institutional investors and hedge funds.

LyondellBasell Industries Stock Down 8.7 %

Shares of LyondellBasell Industries stock traded down $5.20 during trading on Thursday, reaching $54.63. The stock had a trading volume of 1,833,954 shares, compared to its average volume of 2,364,949. The company has a market capitalization of $17.67 billion, a price-to-earnings ratio of 13.20, a P/E/G ratio of 0.97 and a beta of 0.89. The stock has a fifty day moving average price of $72.41 and a two-hundred day moving average price of $79.02. LyondellBasell Industries has a 52 week low of $51.11 and a 52 week high of $107.02. The company has a current ratio of 1.83, a quick ratio of 1.13 and a debt-to-equity ratio of 0.84.

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LyondellBasell Industries (NYSE:LYB - Get Free Report) last released 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 net margin of 3.39% and a return on equity of 15.97%. During the same period last year, the company posted $1.26 earnings per share. Sell-side analysts predict that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a yield of 9.81%. The ex-dividend date was Monday, March 10th. LyondellBasell Industries's dividend payout ratio (DPR) is presently 129.47%.

Analysts Set New Price Targets

Several analysts recently weighed in on LYB shares. StockNews.com downgraded LyondellBasell Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, January 8th. Royal Bank of Canada downgraded LyondellBasell Industries from an "outperform" rating to a "sector perform" rating and set a $62.00 target price for the company. in a research note on Wednesday. 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 note on Tuesday, February 4th. Piper Sandler decreased their target price on LyondellBasell Industries from $84.00 to $67.00 and set a "neutral" rating for the company in a research note on Monday. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $60.00 price objective (down previously from $80.00) on shares of LyondellBasell Industries in a research report on Friday, April 4th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $76.50.

Insiders Place Their Bets

In other news, Director Michael Sean Hanley bought 3,750 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were bought at an average price of $72.05 per share, with a total value of $270,187.50. Following the completion of the transaction, the director now owns 16,028 shares of the company's stock, valued at $1,154,817.40. This trade represents a 30.54 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.11% of the company's stock.

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.