C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Purchases New Shares in Westlake Co. (NYSE:WLK)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in Westlake Co. (NYSE:WLK) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 4,658 shares of the specialty chemicals company’s stock, valued at approximately $534,000.

Other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. raised its position in shares of Westlake by 247.7% in the fourth quarter. Blue Trust Inc. now owns 226 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 161 shares in the last quarter. Allworth Financial LP raised its holdings in Westlake by 6,316.7% in the 4th quarter. Allworth Financial LP now owns 385 shares of the specialty chemicals company’s stock valued at $45,000 after acquiring an additional 379 shares in the last quarter. Continuum Advisory LLC lifted its position in shares of Westlake by 43.2% during the 3rd quarter. Continuum Advisory LLC now owns 318 shares of the specialty chemicals company’s stock valued at $48,000 after acquiring an additional 96 shares during the period. GAMMA Investing LLC grew its holdings in shares of Westlake by 72.0% during the 4th quarter. GAMMA Investing LLC now owns 523 shares of the specialty chemicals company’s stock worth $60,000 after purchasing an additional 219 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in shares of Westlake by 84.4% in the fourth quarter. Versant Capital Management Inc now owns 531 shares of the specialty chemicals company’s stock worth $61,000 after purchasing an additional 243 shares during the period. Institutional investors own 28.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on WLK shares. Citigroup upgraded shares of Westlake from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $152.00 to $140.00 in a research note on Wednesday, December 18th. BMO Capital Markets decreased their price objective on shares of Westlake from $171.00 to $165.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 13th. Wells Fargo & Company cut their target price on Westlake from $180.00 to $160.00 and set an “overweight” rating for the company in a research note on Wednesday, November 6th. StockNews.com upgraded Westlake from a “sell” rating to a “hold” rating in a research note on Tuesday, November 26th. Finally, Piper Sandler dropped their price objective on Westlake from $155.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Westlake currently has a consensus rating of “Moderate Buy” and an average price target of $155.79.

Insider Activity at Westlake

In related news, Director David Tsung-Hung Chao sold 1,750 shares of Westlake 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 transaction, the director now directly owns 7,784 shares of the company’s stock, valued at $1,004,758.72. The trade was a 18.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is currently owned by company insiders.

Westlake Trading Down 2.9 %

Shares of NYSE WLK opened at $113.48 on Thursday. The firm has a 50 day moving average price of $114.62 and a two-hundred day moving average price of $129.87. The stock has a market cap of $14.61 billion, a P/E ratio of 159.83, a price-to-earnings-growth ratio of 2.45 and a beta of 1.17. Westlake Co. has a 52-week low of $108.56 and a 52-week high of $162.64. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.04 and a current ratio of 2.79.

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.