Westlake Chemical Co. (NYSE:WLK) Director Dorothy C. Jenkins sold 390 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $62.30, for a total transaction of $24,297.00. Following the completion of the sale, the director now owns 67,618 shares of the company’s stock, valued at $4,212,601.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Shares of NYSE WLK traded down $0.68 on Thursday, reaching $60.18. 10,924 shares of the company’s stock traded hands, compared to its average volume of 675,697. Westlake Chemical Co. has a 12 month low of $57.20 and a 12 month high of $98.99. The business’s 50 day simple moving average is $65.81 and its two-hundred day simple moving average is $68.01. The company has a market cap of $8.07 billion, a price-to-earnings ratio of 7.65, a price-to-earnings-growth ratio of 2.59 and a beta of 1.61. The company has a quick ratio of 1.33, a current ratio of 2.07 and a debt-to-equity ratio of 0.47.
Westlake Chemical (NYSE:WLK) last announced its earnings results on Tuesday, August 6th. The specialty chemicals company reported $0.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.08. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.15 billion. Westlake Chemical had a net margin of 7.39% and a return on equity of 11.05%. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.12 earnings per share. Analysts forecast that Westlake Chemical Co. will post 3.75 earnings per share for the current fiscal year.
WLK has been the subject of several research analyst reports. Macquarie set a $74.00 price objective on shares of Westlake Chemical and gave the stock a “hold” rating in a report on Tuesday, July 2nd. Nomura lowered their price objective on shares of Westlake Chemical from $57.00 to $53.00 and set a “reduce” rating for the company in a report on Wednesday, August 7th. Alembic Global Advisors set a $105.00 target price on shares of Westlake Chemical and gave the company a “buy” rating in a research note on Thursday, May 2nd. ValuEngine raised shares of Westlake Chemical from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Cowen reaffirmed a “market perform” rating and set a $68.00 target price (down previously from $78.00) on shares of Westlake Chemical in a research note on Monday, May 6th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company. Westlake Chemical currently has an average rating of “Hold” and a consensus target price of $81.82.
Several institutional investors and hedge funds have recently made changes to their positions in WLK. Dimensional Fund Advisors LP increased its stake in Westlake Chemical by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,172,825 shares of the specialty chemicals company’s stock valued at $77,597,000 after purchasing an additional 8,496 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Westlake Chemical by 11.1% in the first quarter. Nisa Investment Advisors LLC now owns 9,721 shares of the specialty chemicals company’s stock worth $660,000 after acquiring an additional 969 shares during the period. Strs Ohio increased its stake in shares of Westlake Chemical by 14.2% in the first quarter. Strs Ohio now owns 205,491 shares of the specialty chemicals company’s stock worth $13,944,000 after acquiring an additional 25,491 shares during the period. Callahan Advisors LLC increased its stake in shares of Westlake Chemical by 81.8% in the first quarter. Callahan Advisors LLC now owns 7,800 shares of the specialty chemicals company’s stock worth $529,000 after acquiring an additional 3,510 shares during the period. Finally, Smith Graham & Co. Investment Advisors LP increased its stake in shares of Westlake Chemical by 1.0% in the first quarter. Smith Graham & Co. Investment Advisors LP now owns 83,476 shares of the specialty chemicals company’s stock worth $5,665,000 after acquiring an additional 820 shares during the period. 28.70% of the stock is owned by institutional investors.
About Westlake Chemical
Westlake Chemical Corporation manufactures and markets basic chemicals, vinyls, polymers, and building products worldwide. It operates through two segments, Olefins and Vinyls. The Olefins segment offers polyethylene, styrene monomers, and various ethylene co-products, as well as sells propylene, crude butadiene, pyrolysis gasoline, and hydrogen products.
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