Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Sells 212 Shares of Westlake Co. (NYSE:WLK)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lessened its stake in shares of Westlake Co. (NYSE:WLKGet Rating) by 1.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 11,162 shares of the specialty chemicals company’s stock after selling 212 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Westlake were worth $970,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in WLK. SG Americas Securities LLC boosted its position in Westlake by 71.8% during the third quarter. SG Americas Securities LLC now owns 5,505 shares of the specialty chemicals company’s stock worth $478,000 after purchasing an additional 2,301 shares during the period. Valeo Financial Advisors LLC boosted its holdings in shares of Westlake by 78.6% during the 3rd quarter. Valeo Financial Advisors LLC now owns 10,768 shares of the specialty chemicals company’s stock worth $936,000 after buying an additional 4,739 shares during the period. Comerica Bank grew its stake in Westlake by 18.5% in the 3rd quarter. Comerica Bank now owns 3,460 shares of the specialty chemicals company’s stock valued at $328,000 after buying an additional 539 shares during the last quarter. Achmea Investment Management B.V. raised its holdings in Westlake by 3,667.7% in the 3rd quarter. Achmea Investment Management B.V. now owns 5,840 shares of the specialty chemicals company’s stock worth $507,000 after acquiring an additional 5,685 shares during the period. Finally, Strs Ohio lifted its position in Westlake by 63.6% during the 3rd quarter. Strs Ohio now owns 49,946 shares of the specialty chemicals company’s stock worth $4,339,000 after acquiring an additional 19,417 shares during the last quarter. Institutional investors and hedge funds own 26.79% of the company’s stock.

Analyst Upgrades and Downgrades

WLK has been the topic of a number of recent analyst reports. Bank of America dropped their price objective on Westlake from $130.00 to $120.00 in a research note on Tuesday, October 11th. Royal Bank of Canada increased their price objective on Westlake from $107.00 to $113.00 and gave the company an “outperform” rating in a research report on Monday, November 7th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Westlake from $95.00 to $105.00 and gave the stock a “hold” rating in a research report on Monday, November 7th. Morgan Stanley reduced their price target on shares of Westlake from $115.00 to $110.00 and set an “equal weight” rating for the company in a report on Monday, November 7th. Finally, StockNews.com downgraded shares of Westlake from a “buy” rating to a “hold” rating in a report on Sunday, November 6th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Westlake currently has a consensus rating of “Hold” and a consensus price target of $113.64.

Westlake Trading Up 3.0 %

Shares of WLK opened at $113.91 on Friday. The company has a current ratio of 2.48, a quick ratio of 1.66 and a debt-to-equity ratio of 0.47. The stock has a market cap of $14.53 billion, a PE ratio of 5.55 and a beta of 1.20. Westlake Co. has a 1 year low of $81.29 and a 1 year high of $141.19. The stock has a 50 day simple moving average of $106.84 and a 200-day simple moving average of $99.53.

Westlake (NYSE:WLKGet Rating) last released its quarterly earnings data on Thursday, November 3rd. The specialty chemicals company reported $3.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.47 by ($1.37). Westlake had a return on equity of 28.03% and a net margin of 16.62%. The company had revenue of $3.96 billion for the quarter, compared to analyst estimates of $4.16 billion. On average, sell-side analysts predict that Westlake Co. will post 18.61 EPS for the current fiscal year.

Westlake Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 9th. Stockholders of record on Friday, November 25th were issued a dividend of $0.357 per share. This represents a $1.43 annualized dividend and a dividend yield of 1.25%. The ex-dividend date was Wednesday, November 23rd. Westlake’s payout ratio is 6.97%.

Westlake Company Profile

(Get Rating)

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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