David Tsung-Hung Chao Sells 1,750 Shares of Westlake Co. (NYSE:WLK) Stock

Westlake Co. (NYSE:WLK) Director David Tsung-Hung Chao sold 1,750 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $129.08, for a total value of $225,890.00. Following the completion of the sale, the director now directly owns 7,784 shares in the company, valued at approximately $1,004,758.72. This represents a 18.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

David Tsung-Hung Chao also recently made the following trade(s):

• On Friday, November 22nd, David Tsung-Hung Chao sold 1,750 shares of Westlake stock. The shares were sold at an average price of $130.00, for a total value of $227,500.00.

Westlake Stock Performance

WLK opened at $126.68 on Wednesday. The company’s 50 day moving average is $136.11 and its 200 day moving average is $143.05. The company has a current ratio of 2.79, a quick ratio of 2.04 and a debt-to-equity ratio of 0.41. The company has a market cap of $16.30 billion, a price-to-earnings ratio of 178.42, a PEG ratio of 2.49 and a beta of 1.16. Westlake Co. has a 12-month low of $118.64 and a 12-month high of $162.64.

Westlake (NYSE:WLK) last issued its quarterly earnings data on Tuesday, November 5th. The specialty chemicals company reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.80). Westlake had a net margin of 0.81% and a return on equity of 6.93%. The business had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same period in the previous year, the firm earned $2.20 EPS. The company’s revenue was up .1% on a year-over-year basis. On average, equities research analysts predict that Westlake Co. will post 6.47 EPS for the current year.

Westlake Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 26th will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Tuesday, November 26th. Westlake’s dividend payout ratio (DPR) is currently 295.77%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Barclays upgraded Westlake from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $162.00 to $180.00 in a report on Monday, September 30th. StockNews.com upgraded shares of Westlake from a “sell” rating to a “hold” rating in a research note on Tuesday, November 26th. 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 note on Wednesday, November 6th. Bank of America raised shares of Westlake from an “underperform” rating to a “neutral” rating and raised their price target for the company from $151.00 to $159.00 in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. upped their price objective on Westlake from $123.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $162.17.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Continuum Advisory LLC lifted its holdings in Westlake by 43.2% during the third quarter. Continuum Advisory LLC now owns 318 shares of the specialty chemicals company’s stock valued at $48,000 after purchasing an additional 96 shares in the last quarter. Quest Partners LLC boosted its holdings in Westlake by 8,400.0% in the 2nd quarter. Quest Partners LLC now owns 340 shares of the specialty chemicals company’s stock worth $49,000 after buying an additional 336 shares during the period. Brooklyn Investment Group purchased a new stake in Westlake in the 3rd quarter worth $62,000. Itau Unibanco Holding S.A. bought a new stake in Westlake during the second quarter valued at about $66,000. Finally, nVerses Capital LLC purchased a new position in shares of Westlake in the third quarter valued at about $75,000. 28.40% of the stock is currently owned by institutional investors.

Westlake Company Profile

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.