Westlake Co. (NYSE:WLK) Shares Purchased by Pacer Advisors Inc.

Pacer Advisors Inc. boosted its position in shares of Westlake Co. (NYSE:WLKFree Report) by 6.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,142,590 shares of the specialty chemicals company’s stock after purchasing an additional 66,614 shares during the period. Pacer Advisors Inc. owned approximately 0.89% of Westlake worth $159,917,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. CVA Family Office LLC acquired a new stake in Westlake during the fourth quarter worth $25,000. Raymond James & Associates grew its position in Westlake by 1.3% in the 4th quarter. Raymond James & Associates now owns 38,050 shares of the specialty chemicals company’s stock valued at $5,326,000 after acquiring an additional 477 shares in the last quarter. Vest Financial LLC acquired a new position in shares of Westlake in the fourth quarter valued at approximately $235,000. Nordea Investment Management AB boosted its position in Westlake by 13.1% in the 4th quarter. Nordea Investment Management AB now owns 3,260 shares of the specialty chemicals company’s stock valued at $455,000 after buying an additional 377 shares during the period. Finally, Teachers Retirement System of The State of Kentucky raised its stake in shares of Westlake by 91.0% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 11,945 shares of the specialty chemicals company’s stock valued at $1,489,000 after acquiring an additional 5,691 shares in the last quarter. Hedge funds and other institutional investors own 28.40% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Robert F. Buesinger sold 3,878 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $144.50, for a total value of $560,371.00. Following the sale, the executive vice president now directly owns 21,144 shares in the company, valued at $3,055,308. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Westlake news, EVP Robert F. Buesinger sold 3,878 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were 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 of the company’s stock, valued at approximately $3,055,308. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Steven Bender sold 4,804 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 45,306 shares in the company, valued at approximately $6,389,052.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,658 shares of company stock worth $1,923,225. 74.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on WLK shares. Royal Bank of Canada decreased their price objective on Westlake from $139.00 to $134.00 and set a “sector perform” rating for the company in a research note on Monday, February 26th. Tudor, Pickering, Holt & Co. upgraded shares of Westlake from a “sell” rating to a “hold” rating in a research note on Tuesday, January 2nd. Finally, 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. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $131.31.

View Our Latest Research Report on Westlake

Westlake Price Performance

Westlake stock opened at $150.18 on Tuesday. 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 Co. has a one year low of $103.28 and a one year high of $151.60. The company has a market cap of $19.25 billion, a P/E ratio of 40.59, a price-to-earnings-growth ratio of 1.60 and a beta of 1.30. The business has a fifty day moving average of $140.90 and a two-hundred day moving average of $132.46.

Westlake (NYSE:WLKGet Free Report) last released its quarterly earnings data on Tuesday, February 20th. The specialty chemicals company reported $0.72 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 company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.85 billion. During the same period in the prior year, the firm posted $1.79 EPS. The firm’s quarterly revenue was down 14.3% on a year-over-year basis. As a group, analysts predict that Westlake Co. will post 6.84 earnings per share for the current fiscal year.

Westlake Announces Dividend

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

Further Reading

Want to see what other hedge funds are holding WLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Westlake Co. (NYSE:WLKFree Report).

Institutional Ownership by Quarter for Westlake (NYSE:WLK)

Receive News & Ratings for Westlake Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Westlake and related companies with MarketBeat.com's FREE daily email newsletter.