Vest Financial LLC Purchases New Shares in Westlake Co. (NYSE:WLK)

Vest Financial LLC purchased a new stake in Westlake Co. (NYSE:WLKFree Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,682 shares of the specialty chemicals company’s stock, valued at approximately $235,000.

Several other institutional investors and hedge funds have also modified their holdings of WLK. Nordea Investment Management AB grew its stake in Westlake by 13.1% during the fourth quarter. Nordea Investment Management AB now owns 3,260 shares of the specialty chemicals company’s stock worth $455,000 after buying an additional 377 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in Westlake by 91.0% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 11,945 shares of the specialty chemicals company’s stock worth $1,489,000 after buying an additional 5,691 shares in the last quarter. Wellington Management Group LLP grew its stake in Westlake by 37.1% during the third quarter. Wellington Management Group LLP now owns 50,194 shares of the specialty chemicals company’s stock worth $6,258,000 after buying an additional 13,583 shares in the last quarter. Deutsche Bank AG grew its stake in Westlake by 0.8% during the third quarter. Deutsche Bank AG now owns 29,838 shares of the specialty chemicals company’s stock worth $3,720,000 after buying an additional 251 shares in the last quarter. Finally, Comerica Bank grew its stake in Westlake by 41.5% during the third quarter. Comerica Bank now owns 20,043 shares of the specialty chemicals company’s stock worth $2,499,000 after buying an additional 5,883 shares in the last quarter. 28.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Westlake

In other Westlake news, CFO Mark Steven Bender sold 4,804 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $141.02, for a total transaction of $677,460.08. Following the transaction, the chief financial officer now directly owns 45,306 shares in the company, valued at approximately $6,389,052.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Robert F. Buesinger sold 3,878 shares of Westlake 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 sale, the executive vice president now directly owns 21,144 shares in the company, valued at approximately $3,055,308. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark Steven Bender sold 4,804 shares of Westlake stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $141.02, for a total value of $677,460.08. Following the sale, the chief financial officer now owns 45,306 shares in the company, valued at $6,389,052.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,658 shares of company stock worth $1,923,225. Corporate insiders own 74.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on WLK shares. UBS Group increased their price objective on shares of Westlake from $139.00 to $145.00 and gave the stock a “neutral” rating in a research note on Thursday, January 11th. Tudor, Pickering, Holt & Co. raised shares of Westlake from a “sell” rating to a “hold” rating in a report on Tuesday, January 2nd. Finally, Royal Bank of Canada dropped their target price on shares of Westlake from $139.00 to $134.00 and set a “sector perform” rating for the company in a report on Monday, February 26th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $131.31.

Read Our Latest Stock Analysis on Westlake

Westlake Stock Performance

NYSE WLK opened at $150.40 on Friday. The company has a fifty day simple moving average of $140.27 and a 200 day simple moving average of $132.09. Westlake Co. has a 12-month low of $103.28 and a 12-month high of $151.60. The company has a current ratio of 2.37, a quick ratio of 1.79 and a debt-to-equity ratio of 0.43. The company has a market cap of $19.28 billion, a P/E ratio of 40.65, a PEG ratio of 1.60 and a beta of 1.30.

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

Westlake Announces Dividend

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

About Westlake

(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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Institutional Ownership by Quarter for Westlake (NYSE:WLK)

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