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

Key Points

• CIBC Asset Management boosted its stake in LyondellBasell Industries by 37.3% in the fourth quarter, adding 17,041 shares and bringing its total holdings to 62,675 shares valued at about $2.7 million.
• The company reported better-than-expected quarterly earnings of $0.49 per share, beating estimates, though revenue came in below forecasts and fell 6.3% year over year.
• LyondellBasell declared a quarterly dividend of $0.69 per share, implying an annualized dividend of $2.76 and a yield of 4.3%; analysts currently rate the stock a consensus Hold with an average price target of $76.71.

CIBC Asset Management Inc lifted its position in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 37.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 62,675 shares of the specialty chemicals company's stock after buying 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 SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Woodline Partners LP increased its holdings in LyondellBasell Industries by 40.4% in the 1st quarter. Woodline Partners LP now owns 21,899 shares of the specialty chemicals company's stock valued at $1,542,000 after purchasing an additional 6,297 shares in the last quarter. Focus Partners Wealth increased its holdings in LyondellBasell Industries by 35.4% in the 1st quarter. Focus Partners Wealth now owns 6,866 shares of the specialty chemicals company's stock valued at $483,000 after purchasing an additional 1,796 shares in the last quarter. Baird Financial Group Inc. increased its holdings in LyondellBasell Industries by 69.5% in the 2nd quarter. Baird Financial Group Inc. now owns 29,488 shares of the specialty chemicals company's stock valued at $1,706,000 after purchasing an additional 12,087 shares in the last quarter. Cerity Partners LLC increased its holdings in LyondellBasell Industries by 13.9% in the 2nd quarter. Cerity Partners LLC now owns 49,348 shares of the specialty chemicals company's stock valued at $2,855,000 after purchasing an additional 6,032 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in LyondellBasell Industries by 9.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 41,416 shares of the specialty chemicals company's stock valued at $2,397,000 after purchasing an additional 3,715 shares in the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

LyondellBasell Industries Stock Performance

NYSE:LYB opened at $64.58 on Monday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.54 and a quick ratio of 1.03. The firm has a 50-day moving average of $72.77 and a two-hundred day moving average of $59.93. The stock has a market cap of $20.84 billion, a P/E ratio of -25.93, a PEG ratio of 0.15 and a beta of 0.28. LyondellBasell Industries N.V. has a 1-year low of $41.58 and a 1-year high of $83.94.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The specialty chemicals company reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.18. The company had revenue of $7.20 billion during the quarter, compared to analysts' expectations of $7.53 billion. LyondellBasell Industries had a negative net margin of 2.68% and a positive return on equity of 5.68%. The firm's revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.33 EPS. On average, research analysts expect that LyondellBasell Industries N.V. will post 8.73 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

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

Wall Street Analyst Weigh In

LYB has been the subject of several recent research reports. Alembic Global Advisors upgraded LyondellBasell Industries from a "neutral" rating to an "overweight" rating in a report on Thursday, April 9th. Bank of America reiterated an "underperform" rating and issued a $55.00 price target on shares of LyondellBasell Industries in a report on Monday, April 6th. Weiss Ratings upgraded LyondellBasell Industries from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, May 19th. Evercore increased their price target on LyondellBasell Industries from $70.00 to $73.00 in a report on Thursday, May 14th. Finally, JPMorgan Chase & Co. increased their price target on LyondellBasell Industries from $50.00 to $75.00 and gave the company a "neutral" rating in a report on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $76.71.

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.

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