LyondellBasell Industries (NYSE:LYB) Shares Purchased by Cibc World Markets Corp

Cibc World Markets Corp lifted its position in shares of LyondellBasell Industries (NYSE:LYB - Free Report) by 298.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,806 shares of the specialty chemicals company's stock after acquiring an additional 105,506 shares during the quarter. Cibc World Markets Corp's holdings in LyondellBasell Industries were worth $10,458,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Webster Bank N. A. boosted its position in LyondellBasell Industries by 70.4% during the fourth quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company's stock worth $26,000 after purchasing an additional 143 shares in the last quarter. Rosenberg Matthew Hamilton raised its stake 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 worth $30,000 after buying an additional 295 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of LyondellBasell Industries in the 4th quarter worth about $37,000. Pinnacle Bancorp Inc. acquired a new stake in LyondellBasell Industries in the 4th quarter valued at about $59,000. Finally, Brooklyn Investment Group purchased a new position in LyondellBasell Industries during the 3rd quarter valued at about $60,000. Institutional investors and hedge funds own 71.20% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on LYB. Piper Sandler lowered their price target on shares of LyondellBasell Industries from $95.00 to $84.00 and set a "neutral" rating on the stock in a research report on Thursday, February 13th. JPMorgan Chase & Co. dropped their price target on LyondellBasell Industries from $90.00 to $80.00 and set an "overweight" rating for the company in a research report on Tuesday, February 4th. Wells Fargo & Company reduced their price objective on LyondellBasell Industries from $95.00 to $90.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Royal Bank of Canada boosted their target price on shares of LyondellBasell Industries from $82.00 to $90.00 and gave the company an "outperform" rating in a research note on Tuesday, February 4th. Finally, Morgan Stanley reduced their target price on shares of LyondellBasell Industries from $90.00 to $85.00 and set an "overweight" rating on the stock in a report on Tuesday, February 4th. 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 MarketBeat, LyondellBasell Industries presently has an average rating of "Hold" and a consensus target price of $88.25.

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LyondellBasell Industries Trading Down 1.5 %

LYB stock traded down $1.12 during trading on Friday, reaching $71.57. 12,985,497 shares of the stock traded hands, compared to its average volume of 2,087,732. The firm has a market capitalization of $23.15 billion, a PE ratio of 17.29, a P/E/G ratio of 0.97 and a beta of 1.06. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.83 and a quick ratio of 1.13. The business's 50 day moving average price is $76.12 and its 200-day moving average price is $82.11. LyondellBasell Industries has a 52-week low of $70.75 and a 52-week high of $107.02.

LyondellBasell Industries (NYSE:LYB - Get Free Report) 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 previous year, the firm posted $1.26 EPS. As a group, sell-side analysts forecast that LyondellBasell Industries will post 6.31 earnings per share for the current 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 paid a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a dividend yield of 7.49%. The ex-dividend date was Monday, March 10th. LyondellBasell Industries's dividend payout ratio is presently 129.47%.

Insider Activity at LyondellBasell Industries

In related news, Director Michael Sean Hanley purchased 3,750 shares of LyondellBasell Industries stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average cost of $72.05 per share, with a total value of $270,187.50. Following the transaction, the director now owns 16,028 shares of the company's stock, valued at approximately $1,154,817.40. The trade was a 30.54 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.11% of the company's stock.

About LyondellBasell Industries

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.