Westlake Co. (NYSE:WLK) EVP Sells $560,371.00 in Stock

Westlake Co. (NYSE:WLKGet Free Report) EVP Robert F. Buesinger sold 3,878 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $144.50, for a total transaction of $560,371.00. Following the transaction, the executive vice president now directly owns 21,144 shares in the company, valued at $3,055,308. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Westlake Stock Up 3.1 %

WLK opened at $150.42 on Thursday. The firm has a 50 day moving average price of $139.97 and a 200 day moving average price of $131.96. The company has a market cap of $19.28 billion, a PE ratio of 40.65, a price-to-earnings-growth ratio of 1.56 and a beta of 1.30. Westlake Co. has a 1 year low of $103.28 and a 1 year high of $151.21. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.79 and a current ratio of 2.37.

Westlake (NYSE:WLKGet Free Report) last posted its earnings results on Tuesday, February 20th. The specialty chemicals company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.09). Westlake had a return on equity of 9.70% and a net margin of 3.82%. The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same period last year, the company posted $1.79 EPS. The firm’s revenue for the quarter was down 14.3% compared to the same quarter last year. Sell-side analysts expect that Westlake Co. will post 6.84 earnings per share for the current year.

Westlake Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Wednesday, February 28th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend was Tuesday, February 27th. Westlake’s payout ratio is currently 54.05%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. UBS Group boosted their price objective on shares of Westlake from $139.00 to $145.00 and gave the stock a “neutral” rating in a research report on Thursday, January 11th. Royal Bank of Canada decreased their price objective on shares of Westlake from $139.00 to $134.00 and set a “sector perform” rating on the stock in a research report on Monday, February 26th. Finally, Tudor, Pickering, Holt & Co. upgraded shares of Westlake from a “sell” rating to a “hold” rating in a report on Tuesday, January 2nd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Westlake presently has an average rating of “Hold” and a consensus target price of $131.31.

Read Our Latest Report on Westlake

Institutional Trading of Westlake

Hedge funds have recently made changes to their positions in the stock. Aviva PLC lifted its stake in Westlake by 66.8% during the third quarter. Aviva PLC now owns 119,377 shares of the specialty chemicals company’s stock worth $14,883,000 after purchasing an additional 47,799 shares during the last quarter. MQS Management LLC bought a new position in Westlake during the third quarter worth $790,000. FMR LLC lifted its stake in Westlake by 2.1% during the third quarter. FMR LLC now owns 4,630,975 shares of the specialty chemicals company’s stock worth $577,344,000 after purchasing an additional 96,152 shares during the last quarter. Raymond James & Associates lifted its stake in Westlake by 18.6% during the third quarter. Raymond James & Associates now owns 37,573 shares of the specialty chemicals company’s stock worth $4,684,000 after purchasing an additional 5,899 shares during the last quarter. Finally, Citigroup Inc. lifted its stake in Westlake by 111.7% in the second quarter. Citigroup Inc. now owns 45,903 shares of the specialty chemicals company’s stock valued at $5,484,000 after buying an additional 24,217 shares during the last quarter. Institutional investors and hedge funds own 28.40% of the company’s stock.

About Westlake

(Get Free Report)

Westlake Corporation engages in the manufacture and marketing of performance and essential materials, and housing and infrastructure products in the United States, Canada, Germany, China, Mexico, Brazil, France, Italy, Taiwan, and internationally. The company operates through two segments: Performance and Essential Materials and Housing and Infrastructure Products.

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