Westlake Chemical Co. (NYSE:WLK) Stake Lessened by Man Group plc

Man Group plc reduced its position in Westlake Chemical Co. (NYSE:WLK) by 25.1% in the 3rd quarter, according to its most recent filing with the SEC …

Westlake Chemical logoMan Group plc reduced its position in Westlake Chemical Co. (NYSE:WLK) by 25.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 45,619 shares of the specialty chemicals company’s stock after selling 15,293 shares during the period. Man Group plc’s holdings in Westlake Chemical were worth $3,791,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of WLK. Flagship Harbor Advisors LLC purchased a new position in shares of Westlake Chemical in the 2nd quarter worth $130,000. Korea Investment CORP purchased a new position in Westlake Chemical in the second quarter valued at about $194,000. Standard Life Aberdeen plc purchased a new position in Westlake Chemical in the second quarter valued at about $226,000. Twin Tree Management LP purchased a new position in Westlake Chemical in the third quarter valued at about $181,000. Finally, Metropolitan Life Insurance Co. NY raised its position in Westlake Chemical by 47.5% in the second quarter. Metropolitan Life Insurance Co. NY now owns 2,721 shares of the specialty chemicals company’s stock valued at $293,000 after purchasing an additional 876 shares during the period. 29.54% of the stock is owned by institutional investors and hedge funds.

NYSE WLK opened at $75.07 on Friday. The firm has a market capitalization of $9.73 billion, a price-to-earnings ratio of 13.72, a P/E/G ratio of 0.69 and a beta of 1.47. Westlake Chemical Co. has a 1 year low of $59.78 and a 1 year high of $124.29. The company has a current ratio of 2.31, a quick ratio of 1.59 and a debt-to-equity ratio of 0.44.

Westlake Chemical (NYSE:WLK) last posted its quarterly earnings results on Tuesday, November 6th. The specialty chemicals company reported $2.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.24 by $0.11. Westlake Chemical had a return on equity of 19.75% and a net margin of 19.36%. The company had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the prior year, the company earned $1.61 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. As a group, analysts anticipate that Westlake Chemical Co. will post 8.58 EPS for the current year.

In other Westlake Chemical news, CEO Albert Chao sold 24,509 shares of Westlake Chemical stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $71.20, for a total transaction of $1,745,040.80. Following the transaction, the chief executive officer now directly owns 337,013 shares in the company, valued at approximately $23,995,325.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 72.00% of the company’s stock.

WLK has been the topic of several research reports. Deutsche Bank cut their price objective on Westlake Chemical from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, September 26th. Zacks Investment Research upgraded Westlake Chemical from a “sell” rating to a “hold” rating in a research note on Saturday, December 1st. SunTrust Banks reiterated a “positive” rating and issued a $81.00 price target on shares of Westlake Chemical in a research note on Thursday, November 15th. BMO Capital Markets set a $94.00 price target on Westlake Chemical and gave the stock a “hold” rating in a research note on Thursday, November 8th. Finally, ValuEngine downgraded Westlake Chemical from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 3rd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $107.12.

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About Westlake Chemical

Westlake Chemical Corporation manufactures and markets basic chemicals, vinyls, polymers, and building products primarily in North America and Europe. 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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Institutional Ownership by Quarter for Westlake Chemical (NYSE:WLK)

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Westlake Chemical Co. (NYSE:WLK) Shares Bought by AQR Capital Management LLC

AQR Capital Management LLC raised its position in Westlake Chemical Co. (NYSE:WLK) by 20.0% in the 3rd quarter, according to its most recent …

Westlake Chemical logoAQR Capital Management LLC raised its position in Westlake Chemical Co. (NYSE:WLK) by 20.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,853,189 shares of the specialty chemicals company’s stock after acquiring an additional 308,887 shares during the period. AQR Capital Management LLC owned approximately 1.43% of Westlake Chemical worth $154,018,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in WLK. Flagship Harbor Advisors LLC acquired a new stake in shares of Westlake Chemical during the 2nd quarter worth about $130,000. One Wealth Advisors LLC acquired a new position in Westlake Chemical during the third quarter valued at approximately $160,000. Twin Tree Management LP acquired a new position in Westlake Chemical during the third quarter valued at approximately $181,000. Korea Investment CORP acquired a new position in Westlake Chemical during the second quarter valued at approximately $194,000. Finally, Standard Life Aberdeen plc acquired a new position in Westlake Chemical during the second quarter valued at approximately $226,000. Institutional investors own 29.54% of the company’s stock.

WLK has been the topic of a number of recent research reports. Tudor Pickering cut shares of Westlake Chemical from a “buy” rating to a “hold” rating in a research report on Wednesday, September 19th. Morgan Stanley dropped their price objective on shares of Westlake Chemical from $120.00 to $96.00 and set a “hold” rating on the stock in a research note on Wednesday, September 26th. Deutsche Bank dropped their price objective on shares of Westlake Chemical from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, September 26th. ValuEngine lowered shares of Westlake Chemical from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 3rd. Finally, Barclays initiated coverage on shares of Westlake Chemical in a research note on Monday, October 8th. They set an “overweight” rating and a $100.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. Westlake Chemical has a consensus rating of “Hold” and an average target price of $107.12.

In other Westlake Chemical news, CEO Albert Chao sold 24,509 shares of the business’s stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $71.20, for a total transaction of $1,745,040.80. Following the sale, the chief executive officer now owns 337,013 shares in the company, valued at approximately $23,995,325.60. The transaction was disclosed in a filing with the SEC, which is available through this link. 72.00% of the stock is currently owned by insiders.

WLK stock traded down $0.67 during trading on Friday, hitting $75.07. The company had a trading volume of 646,600 shares, compared to its average volume of 1,056,813. The company has a market capitalization of $9.73 billion, a P/E ratio of 13.72, a PEG ratio of 0.69 and a beta of 1.47. Westlake Chemical Co. has a fifty-two week low of $59.78 and a fifty-two week high of $124.29. The company has a quick ratio of 1.59, a current ratio of 2.31 and a debt-to-equity ratio of 0.44.

Westlake Chemical (NYSE:WLK) last posted its quarterly earnings data on Tuesday, November 6th. The specialty chemicals company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.24 by $0.11. Westlake Chemical had a net margin of 19.36% and a return on equity of 19.75%. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the company posted $1.61 earnings per share. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. Equities analysts anticipate that Westlake Chemical Co. will post 8.58 EPS for the current year.

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Westlake Chemical Company Profile

Westlake Chemical Corporation manufactures and markets basic chemicals, vinyls, polymers, and building products primarily in North America and Europe. 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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Institutional Ownership by Quarter for Westlake Chemical (NYSE:WLK)

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BlackRock Inc. Increases Stake in Westlake Chemical Co. (WLK)

BlackRock Inc. raised its stake in shares of Westlake Chemical Co. (NYSE:WLK) by 7.6% in the third quarter, according to the company in its most …

Westlake Chemical logoBlackRock Inc. raised its stake in shares of Westlake Chemical Co. (NYSE:WLK) by 7.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,081,307 shares of the specialty chemicals company’s stock after acquiring an additional 147,877 shares during the period. BlackRock Inc. owned approximately 1.61% of Westlake Chemical worth $172,977,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WLK. Flagship Harbor Advisors LLC purchased a new stake in shares of Westlake Chemical during the 2nd quarter worth approximately $130,000. Korea Investment CORP purchased a new stake in Westlake Chemical in the 2nd quarter valued at $194,000. Standard Life Aberdeen plc purchased a new stake in Westlake Chemical in the 2nd quarter valued at $226,000. Twin Tree Management LP purchased a new stake in Westlake Chemical in the 3rd quarter valued at $181,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in Westlake Chemical in the 2nd quarter valued at $234,000. Institutional investors own 29.54% of the company’s stock.

In other Westlake Chemical news, CEO Albert Chao sold 24,509 shares of the stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $71.20, for a total value of $1,745,040.80. Following the completion of the sale, the chief executive officer now owns 337,013 shares of the company’s stock, valued at $23,995,325.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 72.00% of the stock is owned by company insiders.

Shares of WLK stock traded up $0.38 during trading hours on Thursday, hitting $75.74. 756,882 shares of the company were exchanged, compared to its average volume of 1,114,857. Westlake Chemical Co. has a 1 year low of $59.78 and a 1 year high of $124.29. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.31 and a quick ratio of 1.59. The firm has a market cap of $8.99 billion, a P/E ratio of 13.85, a PEG ratio of 0.68 and a beta of 1.47.

Westlake Chemical (NYSE:WLK) last posted its quarterly earnings results on Tuesday, November 6th. The specialty chemicals company reported $2.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.24 by $0.11. Westlake Chemical had a net margin of 19.36% and a return on equity of 19.75%. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter last year, the firm posted $1.61 earnings per share. Westlake Chemical’s revenue for the quarter was up 6.9% compared to the same quarter last year. Analysts expect that Westlake Chemical Co. will post 8.55 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 11th. Shareholders of record on Tuesday, November 27th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.32%. The ex-dividend date was Monday, November 26th. Westlake Chemical’s dividend payout ratio (DPR) is 18.28%.

WLK has been the topic of several recent research reports. Nomura dropped their price objective on shares of Westlake Chemical from $100.00 to $92.00 and set a “neutral” rating on the stock in a research note on Monday, October 15th. Morgan Stanley dropped their price objective on shares of Westlake Chemical from $120.00 to $96.00 and set a “hold” rating on the stock in a research note on Wednesday, September 26th. ValuEngine cut shares of Westlake Chemical from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 3rd. Deutsche Bank lowered their price target on shares of Westlake Chemical from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, September 26th. Finally, Cowen reaffirmed a “market perform” rating and set a $75.00 price target (down from $100.00) on shares of Westlake Chemical in a research note on Tuesday, December 11th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $107.12.

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Westlake Chemical Profile

Westlake Chemical Corporation manufactures and markets basic chemicals, vinyls, polymers, and building products primarily in North America and Europe. 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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Institutional Ownership by Quarter for Westlake Chemical (NYSE:WLK)

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Westlake Chemical (WLK) Given a $94.00 Price Target by BMO Capital Markets Analysts

AQR Capital Management LLC lifted its position in shares of Westlake Chemical by 20.0% during the 3rd quarter. AQR Capital Management LLC now …

Westlake Chemical logoWestlake Chemical (NYSE:WLK) received a $94.00 price objective from stock analysts at BMO Capital Markets in a research note issued to investors on Thursday, November 8th. The brokerage presently has a “hold” rating on the specialty chemicals company’s stock. BMO Capital Markets’ target price points to a potential upside of 37.41% from the company’s current price.

Several other equities analysts also recently weighed in on WLK. Citigroup reduced their price target on Westlake Chemical from $133.00 to $131.00 and set a “buy” rating for the company in a report on Wednesday, July 11th. Nomura cut Westlake Chemical from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $120.00 to $108.00 in a research report on Wednesday, July 11th. Zacks Investment Research cut Westlake Chemical from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. MED reaffirmed a “buy” rating and set a $140.00 price objective on shares of Westlake Chemical in a research report on Thursday, August 2nd. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $108.00 price objective on shares of Westlake Chemical in a research report on Monday, August 6th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $109.76.

Shares of NYSE:WLK traded down $0.98 on Thursday, hitting $68.41. 405,601 shares of the company traded hands, compared to its average volume of 762,728. Westlake Chemical has a 52 week low of $66.91 and a 52 week high of $124.29. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.31 and a quick ratio of 1.59. The company has a market capitalization of $8.96 billion, a PE ratio of 12.51, a PEG ratio of 0.65 and a beta of 1.59.

Westlake Chemical (NYSE:WLK) last issued its quarterly earnings results on Tuesday, November 6th. The specialty chemicals company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.11. Westlake Chemical had a return on equity of 19.75% and a net margin of 19.36%. The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same period last year, the company earned $1.61 earnings per share. The company’s revenue was up 6.9% on a year-over-year basis. On average, sell-side analysts anticipate that Westlake Chemical will post 8.6 earnings per share for the current fiscal year.

In other Westlake Chemical news, CEO Albert Chao sold 24,509 shares of the firm’s stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $71.20, for a total value of $1,745,040.80. Following the transaction, the chief executive officer now directly owns 337,013 shares of the company’s stock, valued at $23,995,325.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 72.00% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. FMR LLC lifted its position in shares of Westlake Chemical by 15.0% during the 3rd quarter. FMR LLC now owns 8,481,032 shares of the specialty chemicals company’s stock valued at $704,859,000 after buying an additional 1,108,088 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Westlake Chemical by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 5,269,764 shares of the specialty chemicals company’s stock valued at $437,970,000 after buying an additional 112,200 shares in the last quarter. BlackRock Inc. lifted its position in shares of Westlake Chemical by 7.6% during the 3rd quarter. BlackRock Inc. now owns 2,081,307 shares of the specialty chemicals company’s stock valued at $172,977,000 after buying an additional 147,877 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Westlake Chemical by 20.0% during the 3rd quarter. AQR Capital Management LLC now owns 1,853,189 shares of the specialty chemicals company’s stock valued at $154,018,000 after buying an additional 308,887 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Westlake Chemical by 3.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,164,329 shares of the specialty chemicals company’s stock valued at $96,776,000 after buying an additional 33,918 shares in the last quarter. 30.43% of the stock is currently owned by hedge funds and other institutional investors.

About Westlake Chemical

Westlake Chemical Corporation manufactures and markets basic chemicals, vinyls, polymers, and building products primarily in North America and Europe. 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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Analyst Recommendations for Westlake Chemical (NYSE:WLK)

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Westlake Chemical (WLK) Earns “Sell” Rating from Zacks Investment Research

AQR Capital Management LLC raised its position in shares of Westlake Chemical by 20.0% during the 3rd quarter. AQR Capital Management LLC …

Westlake Chemical logoWestlake Chemical (NYSE:WLK)‘s stock had its “sell” rating reissued by Zacks Investment Research in a research report issued to clients and investors on Saturday.

According to Zacks, “Earnings estimates for Westlake Chemical have been going down of late. The company faces headwind from raw material cost inflation which may affect its margins. Its operations are exposed to planned turnarounds and unplanned outages. The company’s high balance sheet leverage is also a matter of concern. Westlake Chemical has also underperformed the industry it belongs to over the past six months.”

Several other brokerages also recently weighed in on WLK. Cowen downgraded shares of Westlake Chemical from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $120.00 to $100.00 in a report on Friday, September 7th. Tudor Pickering downgraded shares of Westlake Chemical from a “buy” rating to a “hold” rating in a report on Wednesday, September 19th. BMO Capital Markets set a $94.00 target price on shares of Westlake Chemical and gave the stock a “hold” rating in a report on Thursday, November 8th. ValuEngine downgraded shares of Westlake Chemical from a “hold” rating to a “sell” rating in a report on Tuesday, September 4th. Finally, Deutsche Bank dropped their target price on shares of Westlake Chemical from $115.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, September 26th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. Westlake Chemical currently has a consensus rating of “Hold” and a consensus price target of $109.76.

Westlake Chemical stock traded up $0.04 during mid-day trading on Friday, hitting $71.74. The stock had a trading volume of 652,366 shares, compared to its average volume of 838,521. The company has a market capitalization of $9.22 billion, a P/E ratio of 13.12, a P/E/G ratio of 0.66 and a beta of 1.59. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.59 and a current ratio of 2.31. Westlake Chemical has a one year low of $68.40 and a one year high of $124.29.

Westlake Chemical (NYSE:WLK) last issued its earnings results on Tuesday, November 6th. The specialty chemicals company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.24 by $0.11. The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. Westlake Chemical had a net margin of 19.36% and a return on equity of 19.75%. Westlake Chemical’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.61 EPS. Analysts forecast that Westlake Chemical will post 8.63 EPS for the current year.

In other Westlake Chemical news, CEO Albert Chao sold 24,509 shares of the stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $71.20, for a total transaction of $1,745,040.80. Following the completion of the transaction, the chief executive officer now owns 337,013 shares of the company’s stock, valued at approximately $23,995,325.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 72.00% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in WLK. FMR LLC raised its position in shares of Westlake Chemical by 21.2% during the 2nd quarter. FMR LLC now owns 7,372,944 shares of the specialty chemicals company’s stock valued at $793,550,000 after buying an additional 1,291,053 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Westlake Chemical by 2,586.0% during the 2nd quarter. Advisors Asset Management Inc. now owns 599,012 shares of the specialty chemicals company’s stock valued at $3,714,000 after buying an additional 576,711 shares in the last quarter. BlackRock Inc. raised its position in shares of Westlake Chemical by 26.0% during the 2nd quarter. BlackRock Inc. now owns 1,933,430 shares of the specialty chemicals company’s stock valued at $208,094,000 after buying an additional 398,951 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Westlake Chemical by 20.0% during the 3rd quarter. AQR Capital Management LLC now owns 1,853,189 shares of the specialty chemicals company’s stock valued at $154,018,000 after buying an additional 308,887 shares in the last quarter. Finally, Glenmede Trust Co. NA raised its position in shares of Westlake Chemical by 4,470.5% during the 2nd quarter. Glenmede Trust Co. NA now owns 199,733 shares of the specialty chemicals company’s stock valued at $21,497,000 after buying an additional 195,363 shares in the last quarter. Hedge funds and other institutional investors own 30.24% of the company’s stock.

About Westlake Chemical

Westlake Chemical Corporation manufactures and markets basic chemicals, vinyls, polymers, and building products primarily in North America and Europe. 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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Analyst Recommendations for Westlake Chemical (NYSE:WLK)

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