Westlake Co. (NYSE:WLK) CFO Mark Steven Bender Sells 4,950 Shares of Stock

Westlake Co. (NYSE:WLK) CFO Mark Steven Bender sold 4,950 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $152.19, for a total transaction of $753,340.50. Following the completion of the transaction, the chief financial officer now owns 40,356 shares of the company’s stock, valued at $6,141,779.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Mark Steven Bender also recently made the following trade(s):

• On Wednesday, March 6th, Mark Steven Bender sold 4,804 shares of Westlake stock. The shares were sold at an average price of $141.02, for a total transaction of $677,460.08.
• On Monday, February 26th, Mark Steven Bender sold 4,854 shares of Westlake stock. The shares were sold at an average price of $137.57, for a total transaction of $667,764.78.

Westlake Trading Up 0.7 %

Shares of NYSE:WLK opened at $153.30 on Tuesday. The company has a current ratio of 2.46, a quick ratio of 1.83 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $19.65 billion, a PE ratio of 77.04, a P/E/G ratio of 1.67 and a beta of 1.30. Westlake Co. has a 1 year low of $103.28 and a 1 year high of $162.64. The firm has a fifty day moving average price of $148.79 and a 200 day moving average price of $138.55.

Westlake (NYSE:WLK) last announced its quarterly earnings results on Wednesday, May 1st. The specialty chemicals company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.25. The company had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Westlake had a return on equity of 7.69% and a net margin of 2.13%. The business’s quarterly revenue was down 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.05 earnings per share. Analysts expect that Westlake Co. will post 6.73 EPS for the current fiscal year.

Westlake Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders 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 1.30%. Westlake’s dividend payout ratio (DPR) is presently 100.50%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on WLK shares. Barclays lifted their price target on Westlake from $142.00 to $160.00 and gave the company an “equal weight” rating in a report on Thursday, April 4th. Royal Bank of Canada upped their target price on Westlake from $134.00 to $153.00 and gave the company a “sector perform” rating in a report on Friday, April 19th. Vertical Research cut shares of Westlake from a “buy” rating to a “hold” rating and set a $154.00 price target for the company. in a report on Monday, April 8th. Bank of America raised shares of Westlake from a “hold” rating to a “buy” rating and boosted their price objective for the company from $138.00 to $174.00 in a research report on Thursday, April 18th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Westlake from a “hold” rating to a “buy” rating and increased their target price for the stock from $138.00 to $174.00 in a research report on Thursday, April 18th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $145.79.

Hedge Funds Weigh In On Westlake

A number of institutional investors have recently modified their holdings of WLK. CVA Family Office LLC acquired a new position in Westlake in the 4th quarter valued at $25,000. Venturi Wealth Management LLC increased its stake in shares of Westlake by 51.3% in the fourth quarter. Venturi Wealth Management LLC now owns 236 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 80 shares during the period. GAMMA Investing LLC acquired a new position in shares of Westlake during the 4th quarter worth about $37,000. Fifth Third Bancorp boosted its stake in Westlake by 55.9% during the 3rd quarter. Fifth Third Bancorp now owns 354 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 127 shares during the period. Finally, Planned Solutions Inc. acquired a new stake in Westlake in the 4th quarter valued at approximately $87,000. Institutional investors own 28.40% of the company’s stock.

Westlake Company Profile

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.