Westlake Co. (NYSE:WLK) Director David Tsung-Hung Chao Sells 1,750 Shares of 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 transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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 transaction of $227,500.00.

Westlake Trading Up 0.2 %

WLK stock opened at $128.68 on Tuesday. Westlake Co. has a twelve month low of $118.64 and a twelve month high of $162.64. The stock has a market capitalization of $16.56 billion, a price-to-earnings ratio of 181.24, a price-to-earnings-growth ratio of 2.48 and a beta of 1.19. The company has a quick ratio of 2.04, a current ratio of 2.79 and a debt-to-equity ratio of 0.41. The firm’s fifty day simple moving average is $136.54 and its two-hundred day simple moving average is $143.27.

Westlake (NYSE:WLK) last posted its quarterly earnings data on Tuesday, November 5th. The specialty chemicals company reported $1.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.80). The firm had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.31 billion. Westlake had a return on equity of 6.93% and a net margin of 0.81%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the company earned $2.20 earnings per share. As a group, analysts anticipate that Westlake Co. will post 6.47 earnings per share for the current year.

Westlake Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 26th will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Tuesday, November 26th. Westlake’s payout ratio is currently 295.77%.

Analyst Ratings Changes

A number of analysts have issued reports on WLK shares. Royal Bank of Canada reduced their price target on shares of Westlake from $170.00 to $167.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Barclays raised Westlake from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $162.00 to $180.00 in a report on Monday, September 30th. JPMorgan Chase & Co. increased their price target on Westlake from $123.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, August 15th. Piper Sandler reduced their price objective on Westlake from $180.00 to $170.00 and set an “overweight” rating on the stock in a research note on Thursday, September 5th. Finally, BMO Capital Markets lowered their target price on Westlake from $171.00 to $165.00 and set a “market perform” rating for the company in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $162.17.

Hedge Funds Weigh In On Westlake

Several hedge funds have recently bought and sold shares of WLK. Tidal Investments LLC grew its holdings in shares of Westlake by 30.1% in the first quarter. Tidal Investments LLC now owns 5,017 shares of the specialty chemicals company’s stock worth $767,000 after purchasing an additional 1,162 shares during the last quarter. Comerica Bank increased its position in shares of Westlake by 17.9% during the first quarter. Comerica Bank now owns 24,490 shares of the specialty chemicals company’s stock worth $3,742,000 after acquiring an additional 3,710 shares during the period. Cetera Advisors LLC bought a new stake in shares of Westlake during the first quarter valued at approximately $316,000. DekaBank Deutsche Girozentrale boosted its holdings in shares of Westlake by 3.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 3,518 shares of the specialty chemicals company’s stock valued at $532,000 after purchasing an additional 116 shares during the period. Finally, DNB Asset Management AS grew its stake in Westlake by 364.1% in the second quarter. DNB Asset Management AS now owns 29,029 shares of the specialty chemicals company’s stock worth $4,204,000 after purchasing an additional 22,774 shares in the last quarter. Institutional investors own 28.40% of the company’s stock.

About Westlake

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.