Westlake Chemical Partners LP (NYSE:WLKP – Get Rating)’s share price hit a new 52-week low during trading on Monday . The company traded as low as $18.58 and last traded at $20.75, with a volume of 125536 shares changing hands. The stock had previously closed at $21.90.
Analyst Ratings Changes
Separately, Deutsche Bank Aktiengesellschaft cut their target price on shares of Westlake Chemical Partners from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Friday, November 18th.
Westlake Chemical Partners Stock Up 2.5 %
The company has a current ratio of 3.67, a quick ratio of 3.60 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $761.10 million, a price-to-earnings ratio of 11.81, a PEG ratio of 1.49 and a beta of 1.01. The firm’s 50 day simple moving average is $23.92 and its 200-day simple moving average is $23.15.
Westlake Chemical Partners Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 16th. Shareholders of record on Thursday, February 2nd were paid a $0.471 dividend. The ex-dividend date was Wednesday, February 1st. This represents a $1.88 annualized dividend and a yield of 8.72%. Westlake Chemical Partners’s dividend payout ratio is currently 103.28%.
Insider Buying and Selling at Westlake Chemical Partners
In other news, SVP Andrew Kenner acquired 5,000 shares of the company’s stock in a transaction on Monday, March 13th. The shares were bought at an average cost of $21.44 per share, with a total value of $107,200.00. Following the purchase, the senior vice president now owns 65,000 shares of the company’s stock, valued at approximately $1,393,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Institutional Investors Weigh In On Westlake Chemical Partners
Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its position in shares of Westlake Chemical Partners by 61.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,141 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 435 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Westlake Chemical Partners during the 4th quarter worth $47,000. ING Groep NV purchased a new stake in shares of Westlake Chemical Partners during the 4th quarter worth $235,000. Janney Montgomery Scott LLC boosted its position in shares of Westlake Chemical Partners by 5.3% during the 2nd quarter. Janney Montgomery Scott LLC now owns 9,600 shares of the basic materials company’s stock worth $243,000 after purchasing an additional 485 shares in the last quarter. Finally, Private Advisor Group LLC purchased a new stake in shares of Westlake Chemical Partners during the 1st quarter worth $252,000. 31.10% of the stock is currently owned by hedge funds and other institutional investors.
About Westlake Chemical Partners
Westlake Chemical Partners LP engages in the operation, acquisition and development of ethylene production facilities and related assets. It is also involved in the manufacture and marketing of basic chemicals, polymers, and fabricated building products. The company was founded on March 14, 2014 and is headquartered in Houston, TX.
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