Westlake Co. (NYSE:WLK) Stock Position Reduced by Diversified Trust Co

Diversified Trust Co decreased its position in Westlake Co. (NYSE:WLKGet Rating) by 17.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,288 shares of the specialty chemicals company’s stock after selling 893 shares during the quarter. Diversified Trust Co’s holdings in Westlake were worth $420,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in WLK. PDT Partners LLC increased its stake in Westlake by 0.9% during the first quarter. PDT Partners LLC now owns 9,443 shares of the specialty chemicals company’s stock valued at $1,165,000 after purchasing an additional 86 shares during the last quarter. Parallel Advisors LLC increased its stake in Westlake by 33.1% during the first quarter. Parallel Advisors LLC now owns 478 shares of the specialty chemicals company’s stock valued at $60,000 after purchasing an additional 119 shares during the last quarter. Centaurus Financial Inc. increased its stake in Westlake by 1.6% during the first quarter. Centaurus Financial Inc. now owns 9,724 shares of the specialty chemicals company’s stock valued at $1,200,000 after purchasing an additional 154 shares during the last quarter. Signaturefd LLC increased its stake in Westlake by 113.4% during the first quarter. Signaturefd LLC now owns 303 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 161 shares during the last quarter. Finally, BTC Capital Management Inc. increased its stake in Westlake by 3.9% during the first quarter. BTC Capital Management Inc. now owns 4,535 shares of the specialty chemicals company’s stock valued at $560,000 after purchasing an additional 169 shares during the last quarter. 27.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Westlake

In other Westlake news, CAO Johnathan Stevan Zoeller sold 542 shares of the company’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $107.08, for a total value of $58,037.36. Following the completion of the sale, the chief accounting officer now directly owns 543 shares of the company’s stock, valued at approximately $58,144.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 73.70% of the stock is owned by corporate insiders.

Westlake Price Performance

Shares of NYSE WLK opened at $85.75 on Friday. Westlake Co. has a twelve month low of $84.65 and a twelve month high of $141.19. The company has a current ratio of 2.39, a quick ratio of 1.59 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $11.00 billion, a price-to-earnings ratio of 3.88, a PEG ratio of 2.16 and a beta of 1.21. The firm has a 50-day moving average of $97.36 and a two-hundred day moving average of $111.70.

Westlake Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Monday, August 22nd were issued a $0.357 dividend. This represents a $1.43 dividend on an annualized basis and a yield of 1.67%. This is an increase from Westlake’s previous quarterly dividend of $0.30. The ex-dividend date was Friday, August 19th. Westlake’s dividend payout ratio is presently 6.47%.

Analyst Ratings Changes

Several research firms have recently commented on WLK. Morgan Stanley lowered their price target on shares of Westlake from $120.00 to $115.00 and set an “equal weight” rating for the company in a research report on Monday, August 8th. Scotiabank restated a “sector perform” rating on shares of Westlake in a research report on Tuesday, August 2nd. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Westlake from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. upgraded shares of Westlake from a “neutral” rating to an “overweight” rating and set a $135.00 price target for the company in a research report on Wednesday, August 17th. Finally, Bank of America lowered their price target on shares of Westlake from $167.00 to $147.00 and set a “buy” rating for the company in a research report on Tuesday, June 14th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $122.79.

Westlake Company Profile

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Westlake Corporation manufactures and supplies petrochemicals, polymers, and building products worldwide. It operates through two segments, Performance and Essential Materials; and Housing and Infrastructure Products. The Performance and Essential Materials segment manufactures and markets polyethylene, styrene monomer, ethylene co-products, PVC, VCM, ethylene dichloride chlor-alkali, and chlorinated derivative products.

See Also

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Institutional Ownership by Quarter for Westlake (NYSE:WLK)

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