LyondellBasell Industries N.V. $LYB Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc lowered its stake in shares of LyondellBasell Industries N.V. (NYSE:LYB) by 30.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,634 shares of the specialty chemicals company’s stock after selling 19,675 shares during the quarter. CIBC Asset Management Inc’s holdings in LyondellBasell Industries were worth $2,238,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Dodge & Cox lifted its stake in LyondellBasell Industries by 0.4% during the second quarter. Dodge & Cox now owns 16,969,997 shares of the specialty chemicals company’s stock worth $981,884,000 after purchasing an additional 73,965 shares during the last quarter. State Street Corp raised its holdings in LyondellBasell Industries by 4.1% during the second quarter. State Street Corp now owns 12,915,151 shares of the specialty chemicals company’s stock worth $747,271,000 after purchasing an additional 514,057 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of LyondellBasell Industries by 2.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 9,476,600 shares of the specialty chemicals company’s stock worth $548,316,000 after buying an additional 237,038 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of LyondellBasell Industries by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 6,824,462 shares of the specialty chemicals company’s stock valued at $395,486,000 after buying an additional 24,161 shares in the last quarter. Finally, Norges Bank acquired a new stake in LyondellBasell Industries during the 2nd quarter worth $280,000,000. 71.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Kimberly A. Foley acquired 5,661 shares of the business’s stock in a transaction dated Wednesday, November 12th. The shares were acquired at an average cost of $43.56 per share, for a total transaction of $246,593.16. Following the acquisition, the executive vice president directly owned 67,688 shares in the company, valued at approximately $2,948,489.28. The trade was a 9.13% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.14% of the stock is owned by company insiders.

LyondellBasell Industries Price Performance

Shares of NYSE LYB opened at $50.37 on Wednesday. The company has a current ratio of 1.57, a quick ratio of 0.93 and a debt-to-equity ratio of 1.00. The stock has a market cap of $16.21 billion, a price-to-earnings ratio of -13.43 and a beta of 0.70. The company’s 50-day moving average price is $46.11 and its 200 day moving average price is $49.85. LyondellBasell Industries N.V. has a 52 week low of $41.58 and a 52 week high of $79.39.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, October 31st. The specialty chemicals company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.21. The firm had revenue of $7.73 billion for the quarter, compared to analysts’ expectations of $7.41 billion. LyondellBasell Industries had a positive return on equity of 7.50% and a negative net margin of 3.70%.LyondellBasell Industries’s quarterly revenue was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.88 EPS. As a group, research analysts forecast that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 8th. Shareholders of record on Monday, December 1st were paid a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 10.9%. The ex-dividend date of this dividend was Monday, December 1st. LyondellBasell Industries’s dividend payout ratio (DPR) is presently -146.13%.

Analyst Ratings Changes

A number of research firms recently issued reports on LYB. Jefferies Financial Group dropped their price target on LyondellBasell Industries from $50.00 to $46.00 and set a “hold” rating on the stock in a research note on Monday, December 8th. Evercore ISI cut their target price on shares of LyondellBasell Industries from $65.00 to $57.00 and set an “in-line” rating on the stock in a report on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d+)” rating on shares of LyondellBasell Industries in a research note on Thursday, January 22nd. Royal Bank Of Canada lifted their price objective on shares of LyondellBasell Industries from $44.00 to $49.00 and gave the company a “sector perform” rating in a research note on Friday, January 16th. Finally, Vertical Research downgraded shares of LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $48.00 target price for the company. in a research note on Wednesday, January 7th. Two research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, LyondellBasell Industries presently has an average rating of “Reduce” and an average price target of $52.42.

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.