Westlake Chemical Co. (NYSE:WLK) SVP Andrew Kenner sold 6,028 shares of the business’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $120.00, for a total value of $723,360.00. Following the transaction, the senior vice president now owns 17,465 shares in the company, valued at $2,095,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Andrew Kenner also recently made the following trade(s):
- On Monday, March 5th, Andrew Kenner sold 24,318 shares of Westlake Chemical stock. The shares were sold at an average price of $110.61, for a total value of $2,689,813.98.
Westlake Chemical stock traded down $2.24 during midday trading on Monday, reaching $113.63. The company had a trading volume of 321,138 shares, compared to its average volume of 778,700. Westlake Chemical Co. has a 1-year low of $59.58 and a 1-year high of $121.30. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.30 and a current ratio of 1.76. The company has a market cap of $14,995.87, a price-to-earnings ratio of 11.39, a PEG ratio of 1.18 and a beta of 1.59.
Westlake Chemical (NYSE:WLK) last posted its quarterly earnings data on Tuesday, February 20th. The specialty chemicals company reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.07). Westlake Chemical had a return on equity of 16.48% and a net margin of 16.22%. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same period in the prior year, the company posted $0.87 EPS. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. research analysts anticipate that Westlake Chemical Co. will post 8.07 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 13th. Shareholders of record on Tuesday, February 27th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.74%. The ex-dividend date was Monday, February 26th. Westlake Chemical’s dividend payout ratio is 8.41%.
Several equities research analysts have recently weighed in on WLK shares. SunTrust Banks upped their price objective on Westlake Chemical from $102.00 to $113.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th. They noted that the move was a valuation call. Morgan Stanley started coverage on Westlake Chemical in a research note on Tuesday, January 9th. They issued an “equal weight” rating and a $120.00 price objective on the stock. Deutsche Bank reiterated a “buy” rating and issued a $115.00 price objective on shares of Westlake Chemical in a research note on Wednesday, December 13th. Alembic Global Advisors reiterated a “buy” rating and issued a $110.00 price objective on shares of Westlake Chemical in a research note on Wednesday, December 20th. Finally, Wells Fargo reiterated a “buy” rating and issued a $112.00 price objective (up from $105.00) on shares of Westlake Chemical in a research note on Thursday, December 7th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $111.43.
A number of large investors have recently bought and sold shares of WLK. ARP Americas LP acquired a new position in shares of Westlake Chemical in the 4th quarter valued at $2,408,000. Systematic Financial Management LP acquired a new position in shares of Westlake Chemical in the 3rd quarter valued at $1,238,000. James Investment Research Inc. lifted its stake in shares of Westlake Chemical by 6.6% in the 4th quarter. James Investment Research Inc. now owns 163,634 shares of the specialty chemicals company’s stock valued at $17,432,000 after purchasing an additional 10,074 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Westlake Chemical by 252.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 592,581 shares of the specialty chemicals company’s stock valued at $49,509,000 after purchasing an additional 424,655 shares during the period. Finally, California Public Employees Retirement System lifted its stake in shares of Westlake Chemical by 8.4% in the 4th quarter. California Public Employees Retirement System now owns 125,099 shares of the specialty chemicals company’s stock valued at $13,327,000 after purchasing an additional 9,715 shares during the period. 30.28% of the stock is currently owned by hedge funds and other institutional investors.
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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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