Ttwfgp Llc Buys 145,000 Shares of Westlake Chemical Co. (NYSE:WLK) Stock

Westlake Chemical Co. (NYSE:WLK) major shareholder Ttwfgp Llc bought 145,000 shares of the company’s stock in a transaction dated Tuesday, March 24th. The stock was bought at an average cost of $39.82 per share, with a total value of $5,773,900.00. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Ttwfgp Llc also recently made the following trade(s):

  • On Wednesday, March 18th, Ttwfgp Llc bought 165,000 shares of Westlake Chemical stock. The stock was bought at an average cost of $31.40 per share, with a total value of $5,181,000.00.
  • On Monday, March 16th, Ttwfgp Llc bought 160,000 shares of Westlake Chemical stock. The stock was bought at an average cost of $29.87 per share, with a total value of $4,779,200.00.
  • On Friday, March 13th, Ttwfgp Llc bought 160,000 shares of Westlake Chemical stock. The stock was bought at an average cost of $32.94 per share, with a total value of $5,270,400.00.

Shares of NYSE:WLK traded up $3.45 during trading on Wednesday, reaching $41.10. 27,222 shares of the stock were exchanged, compared to its average volume of 1,239,671. Westlake Chemical Co. has a 12 month low of $28.99 and a 12 month high of $78.08. The firm has a market cap of $4.11 billion, a PE ratio of 12.87, a PEG ratio of 1.09 and a beta of 1.57. The stock has a 50-day moving average price of $52.11 and a 200-day moving average price of $63.13. The company has a current ratio of 2.21, a quick ratio of 1.46 and a debt-to-equity ratio of 0.59.

Westlake Chemical (NYSE:WLK) last released its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.50). Westlake Chemical had a net margin of 5.19% and a return on equity of 7.08%. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same quarter in the previous year, the firm posted $0.95 earnings per share. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. On average, sell-side analysts expect that Westlake Chemical Co. will post 2.73 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 25th were given a $0.2625 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.05 dividend on an annualized basis and a dividend yield of 2.55%. Westlake Chemical’s payout ratio is 32.21%.

WLK has been the subject of a number of recent research reports. UBS Group dropped their target price on Westlake Chemical from $50.00 to $28.00 and set a “sell” rating for the company in a report on Friday, March 13th. Bank of America cut Westlake Chemical from a “neutral” rating to an “underperform” rating in a report on Monday. Sanford C. Bernstein cut Westlake Chemical from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $85.00 to $30.00 in a report on Thursday, March 19th. Tudor Pickering upgraded Westlake Chemical from a “hold” rating to a “buy” rating and lifted their price target for the stock from $64.00 to $71.00 in a report on Tuesday, February 25th. Finally, ValuEngine cut Westlake Chemical from a “buy” rating to a “hold” rating in a report on Monday, March 9th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have assigned a buy rating to the stock. Westlake Chemical currently has a consensus rating of “Hold” and a consensus target price of $61.95.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WLK. Empirical Finance LLC increased its position in shares of Westlake Chemical by 1.2% in the fourth quarter. Empirical Finance LLC now owns 13,196 shares of the specialty chemicals company’s stock valued at $926,000 after acquiring an additional 157 shares during the period. Mercer Global Advisors Inc. ADV boosted its stake in shares of Westlake Chemical by 3.4% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 6,521 shares of the specialty chemicals company’s stock valued at $457,000 after purchasing an additional 213 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Westlake Chemical by 0.6% during the 3rd quarter. California State Teachers Retirement System now owns 56,437 shares of the specialty chemicals company’s stock valued at $3,698,000 after purchasing an additional 310 shares in the last quarter. BancorpSouth Bank boosted its stake in shares of Westlake Chemical by 4.1% during the 4th quarter. BancorpSouth Bank now owns 8,602 shares of the specialty chemicals company’s stock valued at $603,000 after purchasing an additional 337 shares in the last quarter. Finally, Toronto Dominion Bank boosted its stake in shares of Westlake Chemical by 8.6% during the 4th quarter. Toronto Dominion Bank now owns 6,737 shares of the specialty chemicals company’s stock valued at $472,000 after purchasing an additional 535 shares in the last quarter. Institutional investors own 29.36% of the company’s stock.

Westlake Chemical Company Profile

Westlake Chemical Corporation manufactures and markets basic chemicals, vinyls, polymers, and building products worldwide. It operates through two segments, Olefins and Vinyls. The Olefins segment offers polyethylene, styrene monomers, and various ethylene co-products, as well as sells propylene, crude butadiene, pyrolysis gasoline, and hydrogen products.

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