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 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%.
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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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