Westlake Chemical Co. (WLK) Holdings Trimmed by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio decreased its holdings in Westlake Chemical Co. (NYSE:WLK) by 3.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,627 shares of the specialty chemicals company’s stock after selling 686 shares during the period. Public Employees Retirement System of Ohio’s holdings in Westlake Chemical were worth $1,465,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Private Advisor Group LLC increased its stake in shares of Westlake Chemical by 3.1% during the second quarter. Private Advisor Group LLC now owns 3,388 shares of the specialty chemicals company’s stock valued at $229,000 after buying an additional 103 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Westlake Chemical by 5.7% during the second quarter. The Manufacturers Life Insurance Company now owns 3,922 shares of the specialty chemicals company’s stock valued at $260,000 after buying an additional 211 shares during the period. Voya Investment Management LLC increased its stake in shares of Westlake Chemical by 2.5% during the second quarter. Voya Investment Management LLC now owns 11,852 shares of the specialty chemicals company’s stock valued at $785,000 after buying an additional 286 shares during the period. SG Americas Securities LLC increased its stake in shares of Westlake Chemical by 4.5% during the second quarter. SG Americas Securities LLC now owns 6,805 shares of the specialty chemicals company’s stock valued at $451,000 after buying an additional 296 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Westlake Chemical by 6.8% during the second quarter. Principal Financial Group Inc. now owns 6,805 shares of the specialty chemicals company’s stock valued at $451,000 after buying an additional 435 shares during the period. Institutional investors and hedge funds own 30.41% of the company’s stock.

Shares of Westlake Chemical Co. (NYSE:WLK) opened at $109.10 on Friday. Westlake Chemical Co. has a 12-month low of $57.73 and a 12-month high of $109.11. The firm has a market capitalization of $14,084.33, a PE ratio of 23.72, a P/E/G ratio of 1.54 and a beta of 1.72. 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 business also recently disclosed a quarterly dividend, which was paid on Monday, December 11th. Investors of record on Monday, November 27th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date was Friday, November 24th. Westlake Chemical’s payout ratio is currently 18.26%.

WLK has been the topic of several research reports. Royal Bank of Canada restated an “outperform” rating and set a $114.00 price target (up previously from $103.00) on shares of Westlake Chemical in a research note on Thursday, November 9th. SunTrust Banks raised their price target 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. Nomura upgraded Westlake Chemical from a “neutral” rating to a “buy” rating and set a $98.00 price target on the stock in a research note on Tuesday, September 26th. UBS Group restated a “sell” rating and set a $61.00 price target on shares of Westlake Chemical in a research note on Wednesday, November 8th. Finally, Deutsche Bank restated a “buy” rating and set a $115.00 price target on shares of Westlake Chemical in a research note on Wednesday, December 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Westlake Chemical presently has an average rating of “Buy” and an average price target of $101.15.

In related news, EVP Robert F. Buesinger sold 2,674 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $98.50, for a total transaction of $263,389.00. Following the sale, the executive vice president now owns 6,635 shares of the company’s stock, valued at $653,547.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP George J. Mangieri sold 13,381 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $94.44, for a total value of $1,263,701.64. Following the sale, the senior vice president now directly owns 10,195 shares in the company, valued at approximately $962,815.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 293,122 shares of company stock worth $27,721,443. 71.70% of the stock is owned by corporate insiders.

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About Westlake Chemical

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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Institutional Ownership by Quarter for Westlake Chemical (NYSE:WLK)

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