WINTON GROUP Ltd Lowers Stake in Westlake Co. (NYSE:WLK)

WINTON GROUP Ltd lessened its position in shares of Westlake Co. (NYSE:WLKGet Rating) by 70.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,296 shares of the specialty chemicals company’s stock after selling 5,380 shares during the period. WINTON GROUP Ltd’s holdings in Westlake were worth $225,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. PDT Partners LLC grew its position 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 acquiring an additional 86 shares during the period. Bowling Portfolio Management LLC lifted its stake in shares of Westlake by 1.5% during the second quarter. Bowling Portfolio Management LLC now owns 9,424 shares of the specialty chemicals company’s stock worth $924,000 after purchasing an additional 141 shares in the last quarter. Centaurus Financial Inc. lifted its stake in shares of Westlake by 1.6% during the first quarter. Centaurus Financial Inc. now owns 9,724 shares of the specialty chemicals company’s stock worth $1,200,000 after purchasing an additional 154 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Westlake by 113.4% during the first quarter. Signaturefd LLC now owns 303 shares of the specialty chemicals company’s stock worth $37,000 after purchasing an additional 161 shares in the last quarter. Finally, BTC Capital Management Inc. lifted its stake in shares of Westlake by 3.9% during the first quarter. BTC Capital Management Inc. now owns 4,535 shares of the specialty chemicals company’s stock worth $560,000 after purchasing an additional 169 shares in the last quarter. Hedge funds and other institutional investors own 27.72% of the company’s stock.

Analyst Ratings Changes

WLK has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut Westlake from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $135.00 to $109.00 in a research note on Tuesday, November 15th. StockNews.com cut Westlake from a “buy” rating to a “hold” rating in a research note on Sunday, November 6th. The Goldman Sachs Group initiated coverage on Westlake in a research note on Thursday, October 13th. They issued a “neutral” rating and a $93.00 price target on the stock. Credit Suisse Group cut their price target on Westlake from $120.00 to $110.00 and set an “outperform” rating on the stock in a research note on Monday, October 3rd. Finally, Royal Bank of Canada boosted their price target on Westlake from $107.00 to $113.00 and gave the stock an “outperform” rating in a research note on Monday, November 7th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Westlake has a consensus rating of “Hold” and a consensus price target of $110.86.

Westlake Stock Performance

Shares of NYSE WLK opened at $102.83 on Tuesday. The company has a quick ratio of 1.66, a current ratio of 2.48 and a debt-to-equity ratio of 0.47. The firm’s 50-day moving average price is $94.35 and its two-hundred day moving average price is $103.04. Westlake Co. has a 52-week low of $81.29 and a 52-week high of $141.19. The stock has a market capitalization of $13.11 billion, a P/E ratio of 5.01, a P/E/G ratio of 3.00 and a beta of 1.21.

Westlake Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Friday, November 25th will be given a dividend of $0.357 per share. The ex-dividend date is Wednesday, November 23rd. This represents a $1.43 dividend on an annualized basis and a yield of 1.39%. Westlake’s dividend payout ratio is currently 6.97%.

Insider Buying and Selling

In other news, CAO Johnathan Stevan Zoeller sold 542 shares of the business’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $107.08, for a total transaction of $58,037.36. Following the completion of the transaction, the chief accounting officer now owns 543 shares of the company’s stock, valued at $58,144.44. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 73.80% of the stock is owned by company insiders.

Westlake 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.

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Institutional Ownership by Quarter for Westlake (NYSE:WLK)

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