Knights of Columbus Asset Advisors LLC Invests $5.65 Million in Westlake Co. (NYSE:WLK)

Knights of Columbus Asset Advisors LLC acquired a new stake in shares of Westlake Co. (NYSE:WLK) in the fourth quarter, Holdings Channel reports. The firm acquired 40,392 shares of the specialty chemicals company’s stock, valued at approximately $5,653,000.

Other large investors also recently added to or reduced their stakes in the company. Raymond James & Associates raised its stake in shares of Westlake by 3.1% during the first quarter. Raymond James & Associates now owns 16,608 shares of the specialty chemicals company’s stock valued at $2,049,000 after acquiring an additional 503 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of 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 buying an additional 10,077 shares during the period. American Century Companies Inc. grew its position in shares of Westlake by 23.7% during the 1st quarter. American Century Companies Inc. now owns 8,102 shares of the specialty chemicals company’s stock worth $1,000,000 after buying an additional 1,553 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Westlake by 236.9% during the first 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 buying an additional 6,549 shares during the period. Finally, MetLife Investment Management LLC purchased a new position in shares of Westlake during the first quarter valued at $118,000. 28.40% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Westlake Stock Performance

WLK opened at $150.76 on Friday. The company has a market cap of $19.33 billion, a P/E ratio of 40.75, a price-to-earnings-growth ratio of 1.44 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 firm’s 50-day moving average price is $146.61 and its 200-day moving average price is $136.29. Westlake Co. has a 52-week low of $103.28 and a 52-week high of $162.64.

Westlake (NYSE:WLK) last issued its quarterly earnings results on Tuesday, February 20th. The specialty chemicals company reported $0.72 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $2.85 billion. During the same quarter in the previous year, the company posted $1.79 EPS. The company’s revenue for the quarter was down 14.3% compared to the same quarter last year. As a group, equities analysts anticipate that Westlake Co. will post 6.93 EPS for the current fiscal year.

Westlake Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Wednesday, February 28th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Tuesday, February 27th. Westlake’s payout ratio is 54.05%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on WLK shares. UBS Group increased their target price on shares of Westlake from $139.00 to $145.00 and gave the stock a “neutral” rating in a report on Thursday, January 11th. Royal Bank of Canada lifted their price objective on shares of Westlake from $134.00 to $153.00 and gave the company a “sector perform” rating in a report on Friday. Barclays upped their target price on Westlake from $142.00 to $160.00 and gave the stock an “equal weight” rating in a report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft upgraded Westlake from a “hold” rating to a “buy” rating and lifted their price target for the company from $138.00 to $174.00 in a report on Thursday. Finally, Citigroup upped their price objective on Westlake from $140.00 to $162.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $145.79.

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.