CIBC Asset Management Inc Decreases Stake in LyondellBasell Industries (NYSE:LYB)

CIBC Asset Management Inc trimmed its holdings in shares of LyondellBasell Industries (NYSE:LYB - Free Report) by 9.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,227 shares of the specialty chemicals company's stock after selling 8,286 shares during the quarter. CIBC Asset Management Inc's holdings in LyondellBasell Industries were worth $6,033,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in LYB. Webster Bank N. A. raised its stake 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 worth $26,000 after buying an additional 143 shares during the period. Rosenberg Matthew Hamilton raised its stake in LyondellBasell Industries by 268.2% in the 4th quarter. Rosenberg Matthew Hamilton now owns 405 shares of the specialty chemicals company's stock valued at $30,000 after purchasing an additional 295 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of LyondellBasell Industries in the third quarter valued at about $31,000. Fortitude Family Office LLC lifted its stake in shares of LyondellBasell Industries by 162.0% in the third quarter. Fortitude Family Office LLC now owns 469 shares of the specialty chemicals company's stock worth $45,000 after buying an additional 290 shares in the last quarter. Finally, Pinnacle Bancorp Inc. acquired a new position in LyondellBasell Industries during the fourth quarter worth about $59,000. 71.20% of the stock is owned by institutional investors and hedge funds.

LyondellBasell Industries Stock Performance

Shares of LYB traded down $0.92 during mid-day trading on Friday, hitting $76.70. 923,421 shares of the company's stock were exchanged, compared to its average volume of 2,617,223. The firm has a market capitalization of $24.91 billion, a P/E ratio of 18.54, a P/E/G ratio of 0.97 and a beta of 1.05. LyondellBasell Industries has a fifty-two week low of $72.21 and a fifty-two week high of $107.02. The business's 50 day moving average is $75.64 and its two-hundred day moving average is $85.29. 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 - Get Free Report) last announced its earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share for the quarter, missing the consensus estimate 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 in the previous year, the company earned $1.26 earnings per share. On average, equities analysts expect that LyondellBasell Industries will post 6.31 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Robin W.T. Buchanan bought 5,000 shares of the business's stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average price of $76.06 per share, with a total value of $380,300.00. Following the purchase, the director now owns 18,175 shares of the company's stock, valued at $1,382,390.50. This trade represents a 37.95 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.11% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. UBS Group lowered their target price on LyondellBasell Industries from $77.00 to $76.00 and set a "neutral" rating on the stock in a report on Monday, February 3rd. Morgan Stanley lowered 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 report on Tuesday, February 4th. Royal Bank of Canada boosted their price target on shares of LyondellBasell Industries from $82.00 to $90.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 4th. Barclays reduced their price objective on LyondellBasell Industries from $90.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of LyondellBasell Industries from $90.00 to $80.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $88.25.

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.