32,522 Shares in Westlake Corporation $WLK Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd acquired a new position in Westlake Corporation (NYSE:WLK) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 32,522 shares of the specialty chemicals company’s stock, valued at approximately $2,469,000.

Other large investors also recently made changes to their positions in the company. Private Trust Co. NA increased its stake in shares of Westlake by 251.1% in the first quarter. Private Trust Co. NA now owns 316 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 226 shares during the period. Signaturefd LLC increased its stake in shares of Westlake by 127.1% in the first quarter. Signaturefd LLC now owns 427 shares of the specialty chemicals company’s stock valued at $43,000 after purchasing an additional 239 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in Westlake by 3,005.6% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 559 shares of the specialty chemicals company’s stock worth $56,000 after acquiring an additional 541 shares during the period. UMB Bank n.a. boosted its position in Westlake by 107.0% during the 2nd quarter. UMB Bank n.a. now owns 565 shares of the specialty chemicals company’s stock worth $43,000 after acquiring an additional 292 shares during the period. Finally, CWM LLC boosted its position in Westlake by 54.5% during the 2nd quarter. CWM LLC now owns 567 shares of the specialty chemicals company’s stock worth $43,000 after acquiring an additional 200 shares during the period. Institutional investors and hedge funds own 28.40% of the company’s stock.

Westlake Stock Down 6.9%

WLK opened at $68.41 on Friday. Westlake Corporation has a one year low of $65.77 and a one year high of $139.59. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.75 and a current ratio of 2.47. The stock’s fifty day moving average is $81.64 and its 200-day moving average is $81.22. The company has a market capitalization of $8.77 billion, a PE ratio of -129.08 and a beta of 0.93.

Westlake (NYSE:WLK) last posted its quarterly earnings results on Thursday, October 30th. The specialty chemicals company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.47). The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.97 billion. Westlake had a positive return on equity of 1.26% and a negative net margin of 0.57%.The company’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.41 EPS. On average, equities analysts predict that Westlake Corporation will post 6.48 EPS for the current fiscal year.

Westlake Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Tuesday, August 19th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 3.1%. This is a positive change from Westlake’s previous quarterly dividend of $0.47. The ex-dividend date was Tuesday, August 19th. Westlake’s dividend payout ratio (DPR) is presently -400.00%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Citigroup reduced their price target on Westlake from $100.00 to $93.00 and set a “buy” rating for the company in a research report on Thursday, October 2nd. Bank of America reiterated a “neutral” rating and set a $87.00 price target (up previously from $86.00) on shares of Westlake in a research report on Tuesday, October 14th. Wells Fargo & Company boosted their price target on Westlake from $76.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday, July 14th. BMO Capital Markets boosted their price target on Westlake from $91.00 to $94.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 6th. Finally, Mizuho set a $90.00 target price on Westlake and gave the stock an “outperform” rating in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $91.64.

Westlake 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.