Westlake (NYSE:WLK) Reaches New 12-Month High at $152.32

Westlake Co. (NYSE:WLK) reached a new 52-week high on Wednesday . The company traded as high as $152.32 and last traded at $151.35, with a volume of 15245 shares trading hands. The stock had previously closed at $150.15.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on WLK shares. Tudor, Pickering, Holt & Co. raised Westlake from a “sell” rating to a “hold” rating in a research note on Tuesday, January 2nd. Royal Bank of Canada cut their target price on Westlake from $139.00 to $134.00 and set a “sector perform” rating on the stock in a research note on Monday, February 26th. Finally, UBS Group raised their target price on Westlake from $139.00 to $145.00 and gave the stock a “neutral” rating in a research note 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. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $131.31.

Westlake Stock Performance

The company has a market capitalization of $19.59 billion, a PE ratio of 41.29, a price-to-earnings-growth ratio of 1.62 and a beta of 1.30. The business’s fifty day moving average is $141.91 and its two-hundred day moving average is $132.91. The company has a current ratio of 2.37, a quick ratio of 1.79 and a debt-to-equity ratio of 0.43.

Westlake (NYSE:WLK) last announced its quarterly earnings data on Tuesday, February 20th. The specialty chemicals company reported $0.72 earnings per share 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 firm had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.85 billion. During the same quarter in the previous year, the firm earned $1.79 earnings per share. Westlake’s revenue was down 14.3% on a year-over-year basis. Equities research analysts predict that Westlake Co. will post 6.84 earnings per share for the current year.

Westlake Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Wednesday, February 28th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $2.00 dividend on an annualized basis and a yield of 1.31%. Westlake’s dividend payout ratio is presently 54.05%.

Insider Buying and Selling at Westlake

In other Westlake news, CFO Mark Steven Bender sold 4,854 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $137.57, for a total transaction of $667,764.78. Following the completion of the sale, the chief financial officer now directly owns 50,110 shares in the company, valued at approximately $6,893,632.70. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Westlake news, CFO Mark Steven Bender sold 4,854 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $137.57, for a total transaction of $667,764.78. Following the completion of the sale, the chief financial officer now directly owns 50,110 shares in the company, valued at approximately $6,893,632.70. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Robert F. Buesinger sold 3,878 shares of the business’s stock in a transaction on 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 owns 21,144 shares of the company’s stock, valued at $3,055,308. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,658 shares of company stock worth $1,923,225. Insiders own 74.10% of the company’s stock.

Institutional Investors Weigh In On Westlake

Hedge funds and other institutional investors have recently modified their holdings of the stock. CVA Family Office LLC purchased a new stake in shares of Westlake in the 4th quarter worth $25,000. Worth Asset Management LLC bought a new position in shares of Westlake during the 1st quarter valued at about $28,000. Venturi Wealth Management LLC boosted its holdings in shares of Westlake by 51.3% during the 4th quarter. Venturi Wealth Management LLC now owns 236 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 80 shares during the last quarter. GAMMA Investing LLC bought a new position in shares of Westlake during the 4th quarter valued at about $37,000. Finally, UniSuper Management Pty Ltd bought a new position in shares of Westlake during the 2nd quarter valued at about $36,000. 28.40% of the stock is currently owned by hedge funds and other institutional investors.

About Westlake

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.