Westlake Chemical Partners LP (NYSE:WLKP) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets lowered its stake in Westlake Chemical Partners LP (NYSE:WLKPFree Report) by 39.8% during the fourth quarter, HoldingsChannel reports. The firm owned 36,477 shares of the basic materials company’s stock after selling 24,075 shares during the quarter. BNP Paribas Financial Markets’ holdings in Westlake Chemical Partners were worth $790,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. UBS Group AG boosted its holdings in 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. International Assets Investment Management LLC lifted its holdings in shares of Westlake Chemical Partners by 2,065.0% in the 4th quarter. International Assets Investment Management LLC now owns 31,652 shares of the basic materials company’s stock valued at $685,000 after buying an additional 30,190 shares during the period. Raymond James & Associates boosted its stake in shares of Westlake Chemical Partners by 43.2% in the fourth quarter. Raymond James & Associates now owns 20,043 shares of the basic materials company’s stock valued at $434,000 after buying an additional 6,043 shares in the last quarter. Apollon Wealth Management LLC grew its holdings in Westlake Chemical Partners by 14.0% during the fourth quarter. Apollon Wealth Management LLC now owns 12,294 shares of the basic materials company’s stock worth $266,000 after acquiring an additional 1,513 shares during the period. Finally, Kovack Advisors Inc. purchased a new position in Westlake Chemical Partners in the fourth quarter worth $261,000. 78.28% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Westlake Chemical Partners

In other Westlake Chemical Partners news, SVP Andrew Kenner acquired 7,178 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were purchased at an average cost of $22.07 per share, with a total value of $158,418.46. Following the purchase, the senior vice president now owns 168,017 shares in the company, valued at $3,708,135.19. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders bought 31,408 shares of company stock valued at $695,805 in the last 90 days. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

Get Our Latest Report on Westlake Chemical Partners

Westlake Chemical Partners Trading Down 0.8 %

Shares of WLKP opened at $22.27 on Friday. Westlake Chemical Partners LP has a twelve month low of $20.91 and a twelve month high of $23.68. The company has a current ratio of 5.21, a quick ratio of 5.09 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $784.40 million, a P/E ratio of 14.46 and a beta of 1.08. The firm’s 50-day moving average is $22.15 and its two-hundred day moving average is $22.25.

Westlake Chemical Partners (NYSE:WLKPGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.01). Westlake Chemical Partners had a return on equity of 6.32% and a net margin of 4.64%. The firm had revenue of $284.67 million for the quarter, compared to analysts’ expectations of $280.76 million. During the same period last year, the firm earned $0.42 EPS. On average, research analysts predict that Westlake Chemical Partners LP will post 1.76 earnings per share for the current fiscal year.

Westlake Chemical Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Monday, May 13th were given a $0.4714 dividend. This represents a $1.89 dividend on an annualized basis and a dividend yield of 8.47%. The ex-dividend date of this dividend was Friday, May 10th. Westlake Chemical Partners’s dividend payout ratio is currently 122.73%.

About Westlake Chemical Partners

(Free Report)

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.

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Institutional Ownership by Quarter for Westlake Chemical Partners (NYSE:WLKP)

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