Westlake Co. (NYSE:WLK) Shares Bought by Amundi

Amundi lifted its stake in shares of Westlake Co. (NYSE:WLK) by 525.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 278,329 shares of the specialty chemicals company’s stock after acquiring an additional 233,838 shares during the period. Amundi’s holdings in Westlake were worth $30,766,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Thrivent Financial for Lutherans raised its holdings in shares of Westlake by 1.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 7,855 shares of the specialty chemicals company’s stock worth $1,181,000 after acquiring an additional 89 shares during the period. Continuum Advisory LLC raised its holdings 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 worth $48,000 after acquiring an additional 96 shares during the period. Oppenheimer & Co. Inc. raised its holdings in shares of Westlake by 3.8% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 2,624 shares of the specialty chemicals company’s stock worth $394,000 after acquiring an additional 97 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Westlake by 2.4% during the 4th quarter. Pacer Advisors Inc. now owns 4,988 shares of the specialty chemicals company’s stock worth $572,000 after acquiring an additional 115 shares during the period. Finally, CIBC Asset Management Inc raised its holdings in shares of Westlake by 4.1% during the 3rd quarter. CIBC Asset Management Inc now owns 3,911 shares of the specialty chemicals company’s stock worth $588,000 after acquiring an additional 153 shares during the period. Hedge funds and other institutional investors own 28.40% of the company’s stock.

Westlake Stock Down 1.5 %

Shares of NYSE:WLK opened at $106.97 on Thursday. Westlake Co. has a 1 year low of $104.74 and a 1 year high of $162.64. The firm has a market capitalization of $13.72 billion, a PE ratio of 150.66, a price-to-earnings-growth ratio of 2.36 and a beta of 1.18. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.79 and a quick ratio of 2.04. The firm’s 50-day moving average is $113.18 and its two-hundred day moving average is $126.39.

Westlake (NYSE:WLK) last announced its quarterly earnings data on Monday, February 24th. The specialty chemicals company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.98). The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $3.01 billion. Westlake had a return on equity of 6.93% and a net margin of 0.81%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.72 earnings per share. Analysts predict that Westlake Co. will post 6.48 EPS for the current year.

Westlake Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Tuesday, March 4th will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Tuesday, March 4th. Westlake’s dividend payout ratio is currently 45.36%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on WLK shares. UBS Group upgraded Westlake from a “neutral” rating to a “buy” rating and set a $144.00 price target on the stock in a report on Friday, January 10th. JPMorgan Chase & Co. upgraded shares of Westlake from an “underweight” rating to a “neutral” rating and reduced their price objective for the company from $135.00 to $110.00 in a report on Thursday, February 27th. Piper Sandler reduced their price objective on shares of Westlake from $155.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Truist Financial reduced their price objective on shares of Westlake from $168.00 to $166.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Finally, Citigroup upgraded shares of Westlake from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $152.00 to $140.00 in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Westlake has an average rating of “Moderate Buy” and a consensus target price of $140.07.

Westlake Company 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.