CIBC Asset Management Inc Acquires 1,156 Shares of LyondellBasell Industries (NYSE:LYB)

CIBC Asset Management Inc raised its holdings in LyondellBasell Industries (NYSE:LYB) by 1.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 89,513 shares of the specialty chemicals company’s stock after buying an additional 1,156 shares during the quarter. CIBC Asset Management Inc’s holdings in LyondellBasell Industries were worth $8,584,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in LYB. Orion Portfolio Solutions LLC lifted its stake in shares of LyondellBasell Industries by 179.6% in the 1st quarter. Orion Portfolio Solutions LLC now owns 13,823 shares of the specialty chemicals company’s stock valued at $1,414,000 after purchasing an additional 8,879 shares during the period. Tocqueville Asset Management L.P. purchased a new position in shares of LyondellBasell Industries in the 1st quarter valued at approximately $219,000. M&G Plc purchased a new position in shares of LyondellBasell Industries in the 1st quarter valued at approximately $3,801,000. Ontario Teachers Pension Plan Board purchased a new position in shares of LyondellBasell Industries in the 1st quarter valued at approximately $935,000. Finally, Covestor Ltd lifted its stake in shares of LyondellBasell Industries by 10.9% in the 1st quarter. Covestor Ltd now owns 1,591 shares of the specialty chemicals company’s stock valued at $163,000 after purchasing an additional 157 shares during the period. Hedge funds and other institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Stock Up 0.1 %

LYB stock opened at $82.65 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.13 and a quick ratio of 1.25. LyondellBasell Industries has a 1-year low of $82.20 and a 1-year high of $107.02. The stock has a market capitalization of $26.84 billion, a P/E ratio of 12.58, a P/E/G ratio of 2.33 and a beta of 1.08. The business has a fifty day moving average price of $91.13 and a 200-day moving average price of $94.90.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing the consensus estimate of $1.98 by ($0.10). LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The firm had revenue of $10.33 billion during the quarter, compared to the consensus estimate of $10.60 billion. During the same period in the previous year, the firm earned $2.46 EPS. The business’s revenue was down 2.8% on a year-over-year basis. Equities analysts forecast that LyondellBasell Industries will post 7.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on LYB shares. Deutsche Bank Aktiengesellschaft lowered their price objective on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Evercore ISI upgraded LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. StockNews.com upgraded LyondellBasell Industries from a “hold” rating to a “buy” rating in a research note on Thursday. Wells Fargo & Company lowered their price objective on LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Finally, Piper Sandler lowered their price objective on LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $101.70.

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.