LSV Asset Management lessened its holdings in Westlake Chemical Co. (NYSE:WLK) by 36.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 117,645 shares of the specialty chemicals company’s stock after selling 68,289 shares during the quarter. LSV Asset Management owned about 0.09% of Westlake Chemical worth $12,532,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Chicago Equity Partners LLC lifted its holdings in Westlake Chemical by 15.3% during the 4th quarter. Chicago Equity Partners LLC now owns 8,530 shares of the specialty chemicals company’s stock valued at $909,000 after buying an additional 1,135 shares in the last quarter. Farmers & Merchants Investments Inc. lifted its holdings in Westlake Chemical by 13.0% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 26,000 shares of the specialty chemicals company’s stock valued at $2,770,000 after buying an additional 3,000 shares in the last quarter. Highland Capital Management LLC bought a new stake in Westlake Chemical during the 4th quarter valued at about $739,000. Jennison Associates LLC lifted its holdings in Westlake Chemical by 2.3% during the 4th quarter. Jennison Associates LLC now owns 41,393 shares of the specialty chemicals company’s stock valued at $4,410,000 after buying an additional 927 shares in the last quarter. Finally, Denali Advisors LLC lifted its holdings in Westlake Chemical by 24.3% during the 4th quarter. Denali Advisors LLC now owns 108,961 shares of the specialty chemicals company’s stock valued at $11,608,000 after buying an additional 21,300 shares in the last quarter. 30.57% of the stock is owned by institutional investors and hedge funds.
In other Westlake Chemical news, EVP Robert F. Buesinger sold 2,674 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $98.50, for a total transaction of $263,389.00. Following the completion of the transaction, the executive vice president now directly owns 6,635 shares in the company, valued at $653,547.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman James Chao sold 76,135 shares of the company’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $94.69, for a total transaction of $7,209,223.15. Following the sale, the chairman now directly owns 129,078 shares of the company’s stock, valued at approximately $12,222,395.82. The disclosure for this sale can be found here. Insiders have sold 227,644 shares of company stock valued at $21,568,386 over the last 90 days. 71.70% of the stock is currently owned by company insiders.
Several equities research analysts have recently commented on WLK shares. Citigroup began coverage on shares of Westlake Chemical in a research report on Tuesday, October 24th. They issued a “buy” rating and a $97.00 price objective on the stock. SunTrust Banks reissued a “buy” rating and set a $93.00 target price on shares of Westlake Chemical in a research report on Friday, November 3rd. Johnson Rice started coverage on shares of Westlake Chemical in a research report on Monday, November 6th. They set an “accumulate” rating and a $100.00 target price on the stock. ValuEngine raised shares of Westlake Chemical from a “hold” rating to a “buy” rating in a research report on Tuesday, November 7th. Finally, Nomura boosted their target price on shares of Westlake Chemical from $98.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $104.00.
Westlake Chemical Co. (WLK) traded down $2.45 on Friday, hitting $106.76. 802,653 shares of the company traded hands, compared to its average volume of 786,835. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.59 and a current ratio of 2.31. The firm has a market cap of $13,780.00, a PE ratio of 23.16, a P/E/G ratio of 1.23 and a beta of 1.62. Westlake Chemical Co. has a 1 year low of $59.58 and a 1 year high of $115.19.
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Westlake Chemical Company Profile
Westlake Chemical Corporation is a global manufacturer and marketer of basic chemicals, vinyls, polymers and building products. The Company’s products include a range of chemicals, which are fundamental to various consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, water treatment, refrigerants, residential and commercial construction, as well as other durable and non-durable goods.
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