International Assets Investment Management LLC Increases Stock Position in Westlake Chemical Partners LP (NYSE:WLKP)

International Assets Investment Management LLC increased its position in shares of Westlake Chemical Partners LP (NYSE:WLKP) by 2,065.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,652 shares of the basic materials company’s stock after buying an additional 30,190 shares during the period. International Assets Investment Management LLC owned 0.09% of Westlake Chemical Partners worth $685,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in WLKP. UBS Group AG increased its stake in shares of Westlake Chemical Partners by 9.3% in the 3rd quarter. UBS Group AG now owns 537,225 shares of the basic materials company’s stock valued at $11,685,000 after purchasing an additional 45,515 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Westlake Chemical Partners by 4.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 595,137 shares of the basic materials company’s stock worth $12,944,000 after buying an additional 25,123 shares during the last quarter. Eagle Global Advisors LLC boosted its holdings in Westlake Chemical Partners by 3.5% in the 3rd quarter. Eagle Global Advisors LLC now owns 43,873 shares of the basic materials company’s stock worth $954,000 after buying an additional 1,500 shares during the last quarter. Samalin Investment Counsel LLC acquired a new stake in Westlake Chemical Partners in the 3rd quarter worth about $218,000. Finally, Raymond James & Associates boosted its holdings in Westlake Chemical Partners by 43.2% in the 4th quarter. Raymond James & Associates now owns 20,043 shares of the basic materials company’s stock worth $434,000 after buying an additional 6,043 shares during the last quarter. 78.28% of the stock is owned by hedge funds and other institutional investors.

Westlake Chemical Partners Stock Up 0.3 %

Shares of NYSE WLKP opened at $21.94 on Thursday. Westlake Chemical Partners LP has a 12-month low of $20.86 and a 12-month high of $23.68. The stock has a market cap of $772.90 million, a PE ratio of 14.25 and a beta of 1.08. The company has a current ratio of 4.02, a quick ratio of 3.94 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average of $22.23 and a 200 day moving average of $22.13.

Westlake Chemical Partners (NYSE:WLKP) last announced its quarterly earnings data on Tuesday, February 20th. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.04). Westlake Chemical Partners had a net margin of 4.56% and a return on equity of 6.25%. The business had revenue of $297.27 million for the quarter, compared to analysts’ expectations of $316.62 million. During the same period in the prior year, the company posted $0.48 EPS. As a group, sell-side analysts predict that Westlake Chemical Partners LP will post 1.7 EPS for the current fiscal year.

Insider Activity at Westlake Chemical Partners

In other news, SVP Andrew Kenner purchased 4,230 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was acquired at an average price of $22.16 per share, with a total value of $93,736.80. Following the purchase, the senior vice president now directly owns 145,839 shares in the company, valued at approximately $3,231,792.24. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In the last quarter, insiders acquired 24,230 shares of company stock valued at $537,587. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Westlake Chemical Partners from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 26th.

Westlake Chemical Partners Profile

Westlake Chemical Partners LP acquires, develops, and operates ethylene production facilities and related assets in the United States. The company's ethylene production facilities primarily convert ethane into ethylene. It also sells ethylene co-products, such as propylene, crude butadiene, pyrolysis gasoline, and hydrogen directly to third parties on either a spot or contract basis.