WINTON GROUP Ltd Has $251000 Holdings in Westlake Chemical Co. (NYSE:WLK)

WINTON GROUP Ltd reduced its stake in shares of Westlake Chemical Co. (NYSE:WLK) by 43.1% during the 4th quarter, according to the company in …

Westlake Chemical logoWINTON GROUP Ltd reduced its stake in shares of Westlake Chemical Co. (NYSE:WLK) by 43.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,789 shares of the specialty chemicals company’s stock after selling 2,868 shares during the quarter. WINTON GROUP Ltd’s holdings in Westlake Chemical were worth $251,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Bank of Montreal Can boosted its position in shares of Westlake Chemical by 63.6% during the third quarter. Bank of Montreal Can now owns 55,516 shares of the specialty chemicals company’s stock worth $4,614,000 after acquiring an additional 21,591 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Westlake Chemical by 11.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 11,348 shares of the specialty chemicals company’s stock worth $943,000 after buying an additional 1,197 shares during the last quarter. Cornerstone Wealth Management LLC raised its position in Westlake Chemical by 8.0% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 155,122 shares of the specialty chemicals company’s stock worth $1,831,000 after buying an additional 11,484 shares during the last quarter. First Trust Advisors LP raised its position in Westlake Chemical by 1.6% during the 3rd quarter. First Trust Advisors LP now owns 244,001 shares of the specialty chemicals company’s stock worth $20,279,000 after buying an additional 3,744 shares during the last quarter. Finally, Creative Planning raised its position in Westlake Chemical by 36.8% during the 3rd quarter. Creative Planning now owns 2,739 shares of the specialty chemicals company’s stock worth $228,000 after buying an additional 737 shares during the last quarter. Institutional investors and hedge funds own 28.57% of the company’s stock.

A number of equities analysts have issued reports on WLK shares. Zacks Investment Research raised shares of Westlake Chemical from a “sell” rating to a “hold” rating in a research report on Saturday, December 1st. SunTrust Banks reaffirmed a “positive” rating and set a $81.00 target price on shares of Westlake Chemical in a report on Thursday, November 15th. Cowen reaffirmed a “market perform” rating and set a $82.00 target price on shares of Westlake Chemical in a report on Wednesday, February 6th. ValuEngine lowered shares of Westlake Chemical from a “sell” rating to a “strong sell” rating in a report on Monday, February 4th. Finally, Alembic Global Advisors reaffirmed a “buy” rating on shares of Westlake Chemical in a report on Monday, November 26th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. Westlake Chemical has a consensus rating of “Hold” and a consensus price target of $103.33.

Shares of WLK stock opened at $68.55 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.59 and a current ratio of 2.40. The stock has a market cap of $8.71 billion, a PE ratio of 8.78, a PEG ratio of 0.81 and a beta of 1.51. Westlake Chemical Co. has a twelve month low of $59.78 and a twelve month high of $124.29.

Westlake Chemical (NYSE:WLK) last announced its quarterly earnings results on Tuesday, February 19th. The specialty chemicals company reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.70). Westlake Chemical had a net margin of 11.53% and a return on equity of 17.83%. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same period in the previous year, the firm posted $1.62 EPS. The company’s revenue was down 2.7% compared to the same quarter last year. As a group, analysts forecast that Westlake Chemical Co. will post 7.13 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 13th. Investors of record on Wednesday, February 27th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Tuesday, February 26th. Westlake Chemical’s dividend payout ratio is presently 12.80%.

TRADEMARK VIOLATION WARNING: “WINTON GROUP Ltd Has $251,000 Holdings in Westlake Chemical Co. (NYSE:WLK)” was originally posted by Modern Readers and is owned by of Modern Readers. If you are accessing this report on another site, it was illegally stolen and republished in violation of United States & international trademark & copyright law. The legal version of this report can be read at https://www.modernreaders.com/news/2019/03/13/westlake-chemical-co-wlk-stake-decreased-by-winton-group-ltd.html.

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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Tennant Company (TNC) EPS Estimated At $0.47; Westlake Chemical (WLK) Has 0.95 Sentiment

… 25/04/2018 – Tennant Company Declares Regular Quarterly Cash Dividend; 05/04/2018 – Brain Corp and Tennant Company Team Up to Introduce …

Westlake Chemical Corporation (NYSE:WLK) Logo

Analysts expect Tennant Company (NYSE:TNC) to report $0.47 EPS on February, 28.They anticipate $0.13 EPS change or 38.24% from last quarter’s $0.34 EPS. TNC’s profit would be $8.52 million giving it 33.26 P/E if the $0.47 EPS is correct. After having $0.54 EPS previously, Tennant Company’s analysts see -12.96% EPS growth. The stock increased 0.90% or $0.56 during the last trading session, reaching $62.53. About 10,157 shares traded. Tennant Company (NYSE:TNC) has declined 13.10% since February 15, 2018 and is downtrending. It has underperformed by 13.10% the S&P500. Some Historical TNC News: 09/04/2018 – USGS: M 1.7 – 19km WSW of Tennant, CA; 25/05/2018 – Tennant Co.: Moorefield May Continue in Non-Executive Role Through Dec. 31 or May Choose to Separate From Company After June 30; 25/04/2018 – Tennant Company Declares Regular Quarterly Cash Dividend; 05/04/2018 – Brain Corp and Tennant Company Team Up to Introduce Autonomous Cleaning Machines; 23/04/2018 – TENNANT CO TNC.N FY2018 SHR VIEW $1.90, REV VIEW $1.09 BLN — THOMSON REUTERS l/B/E/S; 28/04/2018 – USGS: M 2.3 – 32km SE of Tennant, CA; 20/03/2018 – Company Profile for Tennant Company; 23/04/2018 – TENNANT CO – COMPANY UPDATES 2018 FULL YEAR NET SALES, EARNINGS AND EBITDA OUTLOOK; 09/04/2018 – Tennant Company to Webcast First Quarter Conference Call; 23/04/2018 – TENNANT CO TNC.N RAISES FY 2018 GAAP SHR VIEW TO $1.70 TO $1.90

Westlake Chemical Corp (WLK) investors sentiment decreased to 0.95 in Q3 2018. It’s down -0.33, from 1.28 in 2018Q2. The ratio turned negative, as 129 investment professionals started new and increased holdings, while 136 sold and decreased their equity positions in Westlake Chemical Corp. The investment professionals in our database now possess: 35.68 million shares, down from 38.29 million shares in 2018Q2. Also, the number of investment professionals holding Westlake Chemical Corp in top ten holdings decreased from 2 to 1 for a decrease of 1. Sold All: 48 Reduced: 88 Increased: 78 New Position: 51.

Robotti Robert holds 5.73% of its portfolio in Westlake Chemical Corporation for 261,970 shares. Contravisory Investment Management Inc. owns 55,056 shares or 1.64% of their US portfolio. Moreover, Price Michael F has 0.95% invested in the company for 91,800 shares. The California-based Denali Advisors Llc has invested 0.81% in the stock. Viking Fund Management Llc, a North Dakota-based fund reported 40,000 shares.

Analysts await Westlake Chemical Corporation (NYSE:WLK) to report earnings on February, 19. They expect $1.72 EPS, up 6.17% or $0.10 from last year’s $1.62 per share. WLK’s profit will be $222.17M for 11.56 P/E if the $1.72 EPS becomes a reality. After $2.35 actual EPS reported by Westlake Chemical Corporation for the previous quarter, Wall Street now forecasts -26.81% negative EPS growth.

More notable recent Westlake Chemical Corporation (NYSE:WLK) news were published by: Bizjournals.com which released: “Houston-based plastic logistics co. to open another 337,000-SF facility in Baytown – Houston Business Journal” on February 13, 2019, also Nasdaq.com with their article: “Consolidated Research: 2019 Summary Expectations for Post, Westlake Chemical, Repligen, Weingarten Realty Investors, AptarGroup, and At Home Group — Fundamental Analysis, Key Performance Indications – Nasdaq” published on January 23, 2019, Benzinga.com published: “Benzinga’s Top Upgrades, Downgrades For January 30, 2019 – Benzinga” on January 30, 2019. More interesting news about Westlake Chemical Corporation (NYSE:WLK) were released by: Seekingalpha.com and their article: “Westlake Chemical: China Driven Sell-Off Overdone? – Seeking Alpha” published on October 16, 2018 as well as Seekingalpha.com‘s news article titled: “Westlake Chemical: 8.0x Forward P/E And 52-Week Lows – Seeking Alpha” with publication date: December 20, 2018.

Since January 1, 0001, it had 0 buys, and 2 insider sales for $5.26 million activity.

Westlake Chemical Corporation manufactures and markets basic chemicals, vinyls, polymers, and building products. The company has market cap of $10.27 billion. It operates through two divisions, Olefins and Vinyls. It has a 6.2 P/E ratio. The Olefins segment offers ethylene, polyethylene, styrene monomer, and various ethylene co-products, as well as sells propylene, crude butadiene, pyrolysis gasoline, and hydrogen.

The stock increased 2.20% or $1.71 during the last trading session, reaching $79.51. About 465,391 shares traded. Westlake Chemical Corporation (WLK) has declined 32.76% since February 15, 2018 and is downtrending. It has underperformed by 32.76% the S&P500. Some Historical WLK News: 16/03/2018 – Platts: Westlake to boost US caustic soda prices in second hike this year; 17/05/2018 – S&PGR Asgns Westlake Auto Rcvbls Trust 2018-2 Nts Rtgs; 03/05/2018 – WESTLAKE SAYS VINYLS REQUIRES CHLOR-ALKALI, VCM, PVC, ETHYLENE; 09/05/2018 – WESTLAKE CHEMICAL CORP WLK.N : DEUTSCHE BANK RAISES TARGET PRICE TO $125 FROM $124; 03/05/2018 – Westlake Chemical 1Q Net $287M; 03/05/2018 – WESTLAKE CEO SAYS VINYLS INVESTMENT CASE ‘GETTING CLOSER’; 10/05/2018 – WESTLAKE CHEMICAL CORP WLK.N : COWEN AND COMPANY RAISES TARGET PRICE TO $124 FROM $122; 28/03/2018 – WESTLAKE CHEMICAL CORP WLK.N : BMO STARTS WITH MARKET PERFORM RATING AND $125 TARGET PRICE; 21/04/2018 – DJ Westlake Chemical Corporation, Inst Holders, 1Q 2018 (WLK); 03/05/2018 – WESTLAKE CEO ALBERT CHAO SPEAKS ON 1Q EARNINGS CALL

Tennant Company designs, manufactures, and markets cleaning solutions. The company has market cap of $1.13 billion. It offers floor maintenance and outdoor cleaning equipment, detergent -free and other sustainable cleaning technologies, aftermarket parts and consumables, and specialty surface coatings. It has a 50.59 P/E ratio. The firm also provides equipment maintenance and repair services; and business solutions, such as financing, rental, and leasing programs, as well as machine-to-machine asset management solutions.

Since September 6, 2018, it had 0 insider purchases, and 1 insider sale for $1.01 million activity. Another trade for 13,416 shares valued at $1.01 million was sold by Huml David W..

Investors sentiment decreased to 1.24 in Q3 2018. Its down 0.58, from 1.82 in 2018Q2. It worsened, as 10 investors sold Tennant Company shares while 41 reduced holdings. 20 funds opened positions while 43 raised stakes. 15.23 million shares or 0.13% more from 15.21 million shares in 2018Q2 were reported. Arizona State Retirement Sys has 0.02% invested in Tennant Company (NYSE:TNC). Van Eck Assocs reported 0% stake. Mutual Of America Cap Mgmt Ltd Liability Corporation reported 344 shares stake. Menta Capital Lc reported 8,692 shares or 0.23% of all its holdings. Sns Grp Lc holds 0.06% or 3,175 shares in its portfolio. Regions Fin has 0% invested in Tennant Company (NYSE:TNC) for 600 shares. Suntrust Banks Inc holds 0% of its portfolio in Tennant Company (NYSE:TNC) for 7,100 shares. Ls Investment Advisors Ltd Co has 558 shares. Pub Sector Pension Investment Board stated it has 12,659 shares or 0.01% of all its holdings. Pnc Fincl Ser has 14,489 shares. Aperio Gp Limited Liability accumulated 9,218 shares or 0% of the stock. Aqr Mgmt Ltd Liability Co holds 2,735 shares. Ubs Asset Management Americas invested in 0% or 9,748 shares. Citadel Advsr Limited Liability Company holds 0% or 90,405 shares. State Street Corp owns 493,118 shares for 0% of their portfolio.

More notable recent Tennant Company (NYSE:TNC) news were published by: Zacks.com which released: “Tennant (TNC) Reports Next Week: Wall Street Expects Earnings Growth – Zacks.com” on February 14, 2019, also Globenewswire.com with their article: “New Research Coverage Highlights Cinemark, Freshpet, Sykes Enterprises, Tennant, Castlight Health, Inc., and Vista Gold — Consolidated Revenues, Company Growth, and Expectations for 2019 – GlobeNewswire” published on February 05, 2019, Businesswire.com published: “Tennant Company Names Mary E. Talbott as Senior Vice President, General Counsel and Corporate Secretary – Business Wire” on January 25, 2019. More interesting news about Tennant Company (NYSE:TNC) were released by: Streetinsider.com and their article: “Form DFAN14A ASHLAND GLOBAL HOLDINGS Filed by: Cruiser Capital Advisors, LLC – StreetInsider.com” published on January 17, 2019 as well as Seekingalpha.com‘s news article titled: “Dividend Champion Spotlight: Tennant Company – Seeking Alpha” with publication date: December 13, 2018.

Westlake Chemical Corporation (NYSE:WLK) Institutional Positions Chart

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Man Group plc Decreases Holdings in Westlake Chemical Co. (NYSE:WLK)

Man Group plc reduced its position in Westlake Chemical Co. (NYSE:WLK) by 25.1% during the third quarter, according to its most recent 13F filing …

Westlake Chemical logoMan Group plc reduced its position in Westlake Chemical Co. (NYSE:WLK) by 25.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm 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 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Caxton Associates LP bought a new position in shares of Westlake Chemical in the third quarter worth approximately $461,000. Pacer Advisors Inc. bought a new position in shares of Westlake Chemical in the third quarter worth approximately $966,000. Paloma Partners Management Co increased its position in shares of Westlake Chemical by 121.1% in the third quarter. Paloma Partners Management Co now owns 12,405 shares of the specialty chemicals company’s stock worth $1,031,000 after purchasing an additional 6,795 shares during the last quarter. Robotti Robert increased its position in shares of Westlake Chemical by 0.5% in the third quarter. Robotti Robert now owns 261,970 shares of the specialty chemicals company’s stock worth $21,772,000 after purchasing an additional 1,348 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Westlake Chemical in the third quarter worth approximately $783,000. Institutional investors and hedge funds own 29.43% of the company’s stock.

Several research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Westlake Chemical from a “hold” rating to a “sell” rating in a research report on Saturday, January 12th. ValuEngine raised Westlake Chemical from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 9th. SunTrust Banks reaffirmed a “positive” rating and issued a $81.00 target price on shares of Westlake Chemical in a research note on Thursday, November 15th. Alembic Global Advisors reaffirmed a “buy” rating on shares of Westlake Chemical in a research note on Monday, November 26th. Finally, BMO Capital Markets set a $94.00 target price on Westlake Chemical and gave the stock a “hold” rating in a research note on Thursday, November 8th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $106.19.

In other news, CEO Albert Chao sold 40,000 shares of the stock in a transaction that occurred on Tuesday, November 13th. The stock was sold at an average price of $73.47, for a total transaction of $2,938,800.00. Following the completion of the sale, the chief executive officer now owns 321,374 shares of the company’s stock, valued at $23,611,347.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 72.00% of the company’s stock.

WLK traded down $0.73 during midday trading on Monday, hitting $74.37. The stock had a trading volume of 638,200 shares, compared to its average volume of 891,783. The firm has a market cap of $9.70 billion, a P/E ratio of 13.60, a P/E/G ratio of 0.68 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 debt-to-equity ratio of 0.44, a current ratio of 2.31 and a quick ratio of 1.59.

Westlake Chemical (NYSE:WLK) last released its quarterly earnings data on Tuesday, November 6th. The specialty chemicals company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.24 by $0.11. The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. Westlake Chemical had a return on equity of 19.75% and a net margin of 19.36%. The business’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 earnings per share. On average, equities analysts anticipate that Westlake Chemical Co. will post 8.63 earnings per share for the current year.

WARNING: This piece of content was originally published by Fairfield Current and is the property of of Fairfield Current. If you are viewing this piece of content on another publication, it was illegally stolen and republished in violation of US & international trademark & copyright legislation. The original version of this piece of content can be viewed at https://www.fairfieldcurrent.com/news/2019/01/28/man-group-plc-lowers-position-in-westlake-chemical-co-wlk.html.

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) Holdings Reduced by Man Group plc

Man Group plc decreased its stake in Westlake Chemical Co. (NYSE:WLK) by 25.1% during the third quarter, according to its most recent disclosure …

Westlake Chemical logoMan Group plc decreased its stake in Westlake Chemical Co. (NYSE:WLK) by 25.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,619 shares of the specialty chemicals company’s stock after selling 15,293 shares during the quarter. Man Group plc’s holdings in Westlake Chemical were worth $3,791,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of WLK. Flagship Harbor Advisors LLC purchased a new stake in shares of Westlake Chemical in the second quarter valued at approximately $130,000. Korea Investment CORP purchased a new position in Westlake Chemical in the second quarter worth approximately $194,000. Standard Life Aberdeen plc purchased a new position in Westlake Chemical in the second quarter worth approximately $226,000. Twin Tree Management LP purchased a new position in Westlake Chemical in the third quarter worth approximately $181,000. Finally, Metropolitan Life Insurance Co. NY grew 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 worth $293,000 after acquiring an additional 876 shares during the period. Hedge funds and other institutional investors own 29.54% of the company’s stock.

WLK traded up $2.32 during trading on Friday, reaching $77.83. The company’s stock had a trading volume of 960,038 shares, compared to its average volume of 731,133. Westlake Chemical Co. has a 52-week low of $59.78 and a 52-week high of $124.29. The firm has a market capitalization of $10.05 billion, a PE ratio of 14.23, a P/E/G ratio of 0.70 and a beta of 1.47. 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 Zacks’ 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 company 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 firm earned $1.61 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, sell-side analysts predict that Westlake Chemical Co. will post 8.57 EPS for the current year.

Several research analysts recently weighed in on the company. Zacks Investment Research upgraded Westlake Chemical from a “sell” rating to a “hold” rating in a research report on Saturday, December 1st. ValuEngine upgraded Westlake Chemical from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 9th. Alembic Global Advisors reiterated a “buy” rating on shares of Westlake Chemical in a research report on Monday, November 26th. SunTrust Banks reissued a “positive” rating and set a $81.00 price target on shares of Westlake Chemical in a report on Thursday, November 15th. Finally, BMO Capital Markets set a $94.00 price target on Westlake Chemical and gave the stock a “hold” rating in a report on Thursday, November 8th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. Westlake Chemical has a consensus rating of “Hold” and an average target price of $106.19.

In related news, CEO Albert Chao sold 24,509 shares of Westlake Chemical stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 337,013 shares in the company, valued at approximately $23,995,325.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 72.00% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Westlake Chemical Co. (NYSE:WLK) Holdings Reduced by Man Group plc” was reported by Fairfield Current and is the sole property of of Fairfield Current. If you are accessing this story on another website, it was stolen and reposted in violation of U.S. & international copyright legislation. The legal version of this story can be viewed at https://www.fairfieldcurrent.com/news/2019/01/21/man-group-plc-lowers-position-in-westlake-chemical-co-wlk.html.

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 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.

ILLEGAL ACTIVITY WARNING: “Westlake Chemical Co. (NYSE:WLK) Stake Lessened by Man Group plc” was originally published by Fairfield Current and is owned by of Fairfield Current. If you are viewing this story on another domain, it was stolen and reposted in violation of US & international copyright and trademark law. The legal version of this story can be read at https://www.fairfieldcurrent.com/news/2019/01/13/man-group-plc-lowers-position-in-westlake-chemical-co-wlk.html.

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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