MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Raises Stock Holdings in Westlake Chemical Partners LP (NYSE:WLKP)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Westlake Chemical Partners LP (NYSE:WLKP) by 5.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 558,919 shares of the basic materials company’s stock after buying an additional 28,430 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Westlake Chemical Partners were worth $12,933,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Eagle Global Advisors LLC raised its position in Westlake Chemical Partners by 4.6% in the fourth quarter. Eagle Global Advisors LLC now owns 45,873 shares of the basic materials company’s stock worth $1,062,000 after acquiring an additional 2,000 shares during the period. GeoWealth Management LLC purchased a new stake in shares of Westlake Chemical Partners during the 4th quarter worth approximately $175,000. Raymond James Financial Inc. bought a new stake in shares of Westlake Chemical Partners in the 4th quarter worth approximately $456,000. LPL Financial LLC raised its holdings in shares of Westlake Chemical Partners by 13.8% in the 4th quarter. LPL Financial LLC now owns 35,136 shares of the basic materials company’s stock worth $813,000 after purchasing an additional 4,253 shares during the period. Finally, Samalin Investment Counsel LLC lifted its stake in Westlake Chemical Partners by 10.6% in the fourth quarter. Samalin Investment Counsel LLC now owns 24,287 shares of the basic materials company’s stock valued at $562,000 after purchasing an additional 2,327 shares during the last quarter. Hedge funds and other institutional investors own 78.28% of the company’s stock.

Westlake Chemical Partners Trading Down 0.5%

Shares of Westlake Chemical Partners stock opened at $22.72 on Friday. The stock has a market capitalization of $800.63 million, a P/E ratio of 12.98 and a beta of 0.84. Westlake Chemical Partners LP has a 52-week low of $21.19 and a 52-week high of $25.04. The company has a debt-to-equity ratio of 0.48, a quick ratio of 4.46 and a current ratio of 4.53. The stock’s 50-day simple moving average is $23.10 and its 200 day simple moving average is $23.40.

Westlake Chemical Partners (NYSE:WLKP) last posted its quarterly earnings results on Friday, May 2nd. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.24). The business had revenue of $237.63 million during the quarter, compared to the consensus estimate of $296.00 million. Westlake Chemical Partners had a net margin of 5.40% and a return on equity of 7.31%. As a group, research analysts anticipate that Westlake Chemical Partners LP will post 1.55 EPS for the current year.

Westlake Chemical Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Tuesday, May 13th will be issued a dividend of $0.4714 per share. The ex-dividend date is Tuesday, May 13th. This represents a $1.89 dividend on an annualized basis and a yield of 8.30%. Westlake Chemical Partners’s payout ratio is 126.17%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Westlake Chemical Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, May 5th.

Westlake Chemical Partners Company Profile

Westlake Chemical Partners LP acquires, develops, and operates ethylene production facilities and related assets in the United States. The company’s ethylene production facilities primarily convert ethane into ethylene. It also sells ethylene co-products, such as propylene, crude butadiene, pyrolysis gasoline, and hydrogen directly to third parties on either a spot or contract basis.