Mutual of America Capital Management LLC Sells 959 Shares of Westlake Co. (NYSE:WLK)

Mutual of America Capital Management LLC lessened its holdings in shares of Westlake Co. (NYSE:WLK) by 4.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,809 shares of the specialty chemicals company’s stock after selling 959 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Westlake were worth $2,772,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Arizona State Retirement System raised its position in Westlake by 0.8% during the fourth quarter. Arizona State Retirement System now owns 10,528 shares of the specialty chemicals company’s stock valued at $1,473,000 after acquiring an additional 81 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in Westlake by 51.3% during the fourth quarter. Venturi Wealth Management LLC now owns 236 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 80 shares during the last quarter. Denali Advisors LLC grew its holdings in Westlake by 3.5% during the fourth quarter. Denali Advisors LLC now owns 5,925 shares of the specialty chemicals company’s stock valued at $829,000 after purchasing an additional 200 shares during the last quarter. Grey Fox Wealth Advisors LLC acquired a new position in Westlake during the fourth quarter valued at approximately $220,000. Finally, Planned Solutions Inc. acquired a new position in Westlake during the fourth quarter valued at approximately $87,000. Institutional investors own 28.40% of the company’s stock.

Westlake Stock Up 0.2 %

Shares of WLK stock opened at $148.95 on Friday. The stock has a market cap of $19.10 billion, a P/E ratio of 40.26, a price-to-earnings-growth ratio of 1.45 and a beta of 1.30. Westlake Co. has a one year low of $103.28 and a one year high of $162.64. The stock has a fifty day moving average price of $146.44 and a 200 day moving average price of $136.09. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.37 and a quick ratio of 1.79.

Westlake (NYSE:WLK) last issued its earnings results on Tuesday, February 20th. The specialty chemicals company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.09). The firm had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.85 billion. Westlake had a return on equity of 9.70% and a net margin of 3.82%. The firm’s revenue for the quarter was down 14.3% compared to the same quarter last year. During the same period last year, the business earned $1.79 earnings per share. Analysts predict that Westlake Co. will post 6.93 earnings per share for the current year.

Westlake Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Wednesday, February 28th were given a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $2.00 annualized dividend and a yield of 1.34%. Westlake’s dividend payout ratio (DPR) is currently 54.05%.

Insider Buying and Selling at Westlake

In other Westlake news, CFO Mark Steven Bender sold 4,804 shares of Westlake stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $141.02, for a total transaction of $677,460.08. Following the completion of the transaction, the chief financial officer now directly owns 45,306 shares of the company’s stock, valued at $6,389,052.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Westlake news, EVP Robert F. Buesinger sold 3,878 shares of Westlake stock in a transaction on Friday, March 15th. The stock was sold at an average price of $144.50, for a total transaction of $560,371.00. Following the completion of the transaction, the executive vice president now directly owns 21,144 shares of the company’s stock, valued at $3,055,308. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mark Steven Bender sold 4,804 shares of Westlake stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $141.02, for a total value of $677,460.08. Following the transaction, the chief financial officer now directly owns 45,306 shares of the company’s stock, valued at $6,389,052.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,658 shares of company stock valued at $1,923,225. 1.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on WLK. Deutsche Bank Aktiengesellschaft upgraded Westlake from a “hold” rating to a “buy” rating and increased their price target for the company from $138.00 to $174.00 in a report on Thursday. Citigroup increased their price target on Westlake from $140.00 to $162.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. UBS Group increased their price target on Westlake from $139.00 to $145.00 and gave the company a “neutral” rating in a report on Thursday, January 11th. Vertical Research downgraded shares of Westlake from a “buy” rating to a “hold” rating and set a $154.00 price objective on the stock. in a research note on Monday, April 8th. Finally, Barclays raised their price objective on shares of Westlake from $142.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 4th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $144.43.

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.