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

CIBC Asset Management Inc raised its stake in shares of LyondellBasell Industries (NYSE:LYB) by 1.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 89,513 shares of the specialty chemicals company’s stock after purchasing an additional 1,156 shares during the period. CIBC Asset Management Inc’s holdings in LyondellBasell Industries were worth $8,584,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of LYB. Capital World Investors grew its holdings in LyondellBasell Industries by 28.9% during the first quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company’s stock valued at $273,671,000 after purchasing an additional 600,554 shares during the period. Ilex Capital Partners UK LLP bought a new stake in LyondellBasell Industries during the first quarter valued at about $61,327,000. Pacer Advisors Inc. lifted its position in shares of LyondellBasell Industries by 13.6% in the second quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock valued at $461,930,000 after acquiring an additional 579,300 shares in the last quarter. Ensign Peak Advisors Inc lifted its position in shares of LyondellBasell Industries by 80.7% in the second quarter. Ensign Peak Advisors Inc now owns 779,040 shares of the specialty chemicals company’s stock valued at $74,523,000 after acquiring an additional 347,877 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in shares of LyondellBasell Industries in the second quarter worth about $17,683,000. Institutional investors own 71.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on LYB. Deutsche Bank Aktiengesellschaft decreased their target price on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Mizuho decreased their target price on LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Barclays decreased their target price on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Monday, November 4th. Wells Fargo & Company decreased their target price on LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada decreased their price objective on LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $101.70.

LyondellBasell Industries Trading Up 0.1 %

LYB opened at $82.65 on Friday. The stock has a market cap of $26.84 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 2.33 and a beta of 1.08. The stock’s 50 day moving average price is $91.13 and its 200-day moving average price is $94.90. LyondellBasell Industries has a one year low of $82.20 and a one year high of $107.02. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.25 and a current ratio of 2.13.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). The business had revenue of $10.33 billion for the quarter, compared to the consensus estimate of $10.60 billion. LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.46 EPS. On average, equities analysts forecast that LyondellBasell Industries will post 7.09 EPS for the current year.

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.