Westlake Chemical Partners LP (NYSE:WLKP) SVP Buys $275,880.00 in Stock

Westlake Chemical Partners LP (NYSE:WLKP) SVP Andrew Kenner bought 12,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average cost of $22.99 per share, for a total transaction of $275,880.00. Following the completion of the acquisition, the senior vice president now directly owns 182,308 shares in the company, valued at approximately $4,191,260.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Andrew Kenner also recently made the following trade(s):

• On Thursday, May 30th, Andrew Kenner bought 2,291 shares of Westlake Chemical Partners stock. The shares were acquired at an average cost of $22.23 per share, for a total transaction of $50,928.93.

Westlake Chemical Partners Stock Performance

Shares of WLKP stock traded down $0.44 during trading on Monday, reaching $22.50. 12,468 shares of the company’s stock were exchanged, compared to its average volume of 55,048. The company has a quick ratio of 5.09, a current ratio of 5.21 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $792.68 million, a PE ratio of 14.90 and a beta of 1.12. Westlake Chemical Partners LP has a twelve month low of $20.91 and a twelve month high of $23.68. The firm’s fifty day moving average price is $22.81 and its 200-day moving average price is $22.49.

Westlake Chemical Partners (NYSE:WLKP) last posted its earnings results on Tuesday, August 6th. The basic materials company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.03). Westlake Chemical Partners had a return on equity of 6.64% and a net margin of 4.78%. The business had revenue of $284.17 million for the quarter, compared to analyst estimates of $270.28 million. During the same period in the previous year, the firm posted $0.34 earnings per share. As a group, sell-side analysts anticipate that Westlake Chemical Partners LP will post 1.75 EPS for the current year.

Westlake Chemical Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Monday, August 12th will be issued a $0.4714 dividend. This represents a $1.89 dividend on an annualized basis and a yield of 8.38%. The ex-dividend date is Monday, August 12th. Westlake Chemical Partners’s dividend payout ratio is 122.73%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WLKP. Tower Research Capital LLC TRC bought a new stake in shares of Westlake Chemical Partners during the 4th quarter valued at $27,000. International Assets Investment Management LLC bought a new stake in shares of Westlake Chemical Partners during the 2nd quarter valued at $33,000. Future Financial Wealth Managment LLC bought a new stake in shares of Westlake Chemical Partners during the 1st quarter valued at $78,000. Rothschild Investment LLC bought a new stake in shares of Westlake Chemical Partners during the 2nd quarter worth $181,000. Finally, Kovack Advisors Inc. acquired a new stake in Westlake Chemical Partners in the fourth quarter valued at about $261,000. 78.28% of the stock is owned by institutional investors and hedge funds.

About Westlake Chemical Partners

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.