Westlake Co. (NYSE:WLK) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its position in shares of Westlake Co. (NYSE:WLKFree Report) by 1.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,398 shares of the specialty chemicals company’s stock after selling 330 shares during the period. State of Alaska Department of Revenue’s holdings in Westlake were worth $3,833,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in WLK. Raymond James & Associates increased its position in shares of Westlake by 3.1% during the 1st quarter. Raymond James & Associates now owns 16,608 shares of the specialty chemicals company’s stock valued at $2,049,000 after purchasing an additional 503 shares during the period. Bank of New York Mellon Corp increased its position in Westlake by 4.3% in the 1st quarter. Bank of New York Mellon Corp now owns 243,246 shares of the specialty chemicals company’s stock worth $30,017,000 after purchasing an additional 10,077 shares during the last quarter. American Century Companies Inc. lifted its stake in Westlake by 23.7% in the first quarter. American Century Companies Inc. now owns 8,102 shares of the specialty chemicals company’s stock valued at $1,000,000 after acquiring an additional 1,553 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Westlake by 236.9% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 9,313 shares of the specialty chemicals company’s stock valued at $1,149,000 after purchasing an additional 6,549 shares during the last quarter. Finally, MetLife Investment Management LLC bought a new stake in shares of Westlake during the 1st quarter worth about $118,000. 28.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Tudor, Pickering, Holt & Co. raised Westlake from a “sell” rating to a “hold” rating in a research report on Tuesday, January 2nd. Royal Bank of Canada reduced their price objective on shares of Westlake from $139.00 to $134.00 and set a “sector perform” rating for the company in a report on Monday, February 26th. Finally, UBS Group upped their target price on shares of Westlake from $139.00 to $145.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Westlake presently has an average rating of “Hold” and an average price target of $131.31.

View Our Latest Stock Analysis on Westlake

Insider Activity at Westlake

In other Westlake news, EVP Robert F. Buesinger sold 3,878 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $144.50, for a total transaction of $560,371.00. Following the transaction, the executive vice president now directly owns 21,144 shares in the company, valued at approximately $3,055,308. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Mark Steven Bender sold 4,854 shares of Westlake stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $137.57, for a total transaction of $667,764.78. Following the transaction, the chief financial officer now owns 50,110 shares in the company, valued at approximately $6,893,632.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert F. Buesinger sold 3,878 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $144.50, for a total value of $560,371.00. Following the completion of the transaction, the executive vice president now owns 21,144 shares of the company’s stock, valued at $3,055,308. The disclosure for this sale can be found here. Insiders have sold a total of 13,658 shares of company stock worth $1,923,225 over the last 90 days. Insiders own 74.10% of the company’s stock.

Westlake Stock Down 0.6 %

Shares of NYSE:WLK opened at $153.37 on Wednesday. Westlake Co. has a 12 month low of $103.28 and a 12 month high of $154.46. The firm has a market cap of $19.66 billion, a P/E ratio of 41.45, a P/E/G ratio of 1.63 and a beta of 1.30. The company has a quick ratio of 1.79, a current ratio of 2.37 and a debt-to-equity ratio of 0.43. The company’s 50-day moving average price is $142.74 and its two-hundred day moving average price is $133.61.

Westlake (NYSE:WLKGet Free Report) last issued its quarterly earnings results on Tuesday, February 20th. The specialty chemicals company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.09). Westlake had a net margin of 3.82% and a return on equity of 9.70%. The company had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same period in the prior year, the business earned $1.79 EPS. The business’s revenue for the quarter was down 14.3% on a year-over-year basis. As a group, research analysts forecast that Westlake Co. will post 6.84 EPS for the current fiscal year.

Westlake Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Wednesday, February 28th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Tuesday, February 27th. Westlake’s dividend payout ratio (DPR) is presently 54.05%.

Westlake Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Westlake (NYSE:WLK)

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