Entropy Technologies LP Boosts Stock Holdings in Westlake Co. (NYSE:WLK)

Entropy Technologies LP increased its position in shares of Westlake Co. (NYSE:WLK) by 20.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,744 shares of the specialty chemicals company’s stock after buying an additional 2,200 shares during the period. Entropy Technologies LP’s holdings in Westlake were worth $1,915,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WLK. Pathway Financial Advisers LLC purchased a new position in shares of Westlake in the 1st quarter valued at about $43,000. Quest Partners LLC increased its position in shares of Westlake by 8,400.0% in the second quarter. Quest Partners LLC now owns 340 shares of the specialty chemicals company’s stock valued at $49,000 after buying an additional 336 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Westlake during the 2nd quarter worth approximately $66,000. UniSuper Management Pty Ltd lifted its position in shares of Westlake by 66.7% during the 1st quarter. UniSuper Management Pty Ltd now owns 500 shares of the specialty chemicals company’s stock valued at $76,000 after buying an additional 200 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in Westlake in the 3rd quarter valued at $75,000. Hedge funds and other institutional investors own 28.40% of the company’s stock.

Westlake Trading Down 1.9 %

Shares of WLK stock opened at $127.75 on Wednesday. The company has a current ratio of 2.79, a quick ratio of 2.04 and a debt-to-equity ratio of 0.41. Westlake Co. has a twelve month low of $118.64 and a twelve month high of $162.64. The company’s 50-day moving average price is $139.73 and its 200-day moving average price is $145.78. The stock has a market cap of $16.44 billion, a price-to-earnings ratio of 179.93, a PEG ratio of 2.19 and a beta of 1.19.

Westlake (NYSE:WLK) last posted its earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.41 earnings per share for the quarter, missing the consensus estimate of $2.21 by ($0.80). The firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.31 billion. Westlake had a net margin of 0.81% and a return on equity of 6.93%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.20 earnings per share. As a group, equities analysts predict that Westlake Co. will post 6.98 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Wells Fargo & Company dropped their target price on shares of Westlake from $180.00 to $160.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 6th. Royal Bank of Canada cut their price objective on Westlake from $170.00 to $167.00 and set an “outperform” rating for the company in a research note on Monday. Mizuho started coverage on Westlake in a research report on Thursday, August 8th. They issued an “outperform” rating and a $170.00 target price on the stock. UBS Group dropped their price target on Westlake from $160.00 to $144.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Finally, Barclays upgraded Westlake from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $162.00 to $180.00 in a report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $162.67.

About Westlake

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.