David Tsung-Hung Chao Sells 1,750 Shares of Westlake Co. (NYSE:WLK) Stock

Westlake Co. (NYSE:WLK) Director David Tsung-Hung Chao sold 1,750 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $130.00, for a total value of $227,500.00. Following the sale, the director now owns 9,534 shares in the company, valued at $1,239,420. The trade was a 15.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Westlake Stock Up 1.1 %

Shares of NYSE:WLK opened at $131.93 on Tuesday. The company has a 50 day moving average price of $138.31 and a two-hundred day moving average price of $144.44. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.04 and a current ratio of 2.79. The company has a market capitalization of $16.98 billion, a PE ratio of 185.82, a PEG ratio of 2.52 and a beta of 1.19. Westlake Co. has a 52 week low of $118.64 and a 52 week high of $162.64.

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

Westlake Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 26th will be paid a dividend of $0.525 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $2.10 dividend on an annualized basis and a yield of 1.59%. Westlake’s payout ratio is 295.77%.

Analysts Set New Price Targets

A number of brokerages have commented on WLK. JPMorgan Chase & Co. increased their price objective on shares of Westlake from $123.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, August 15th. Mizuho started coverage on shares of Westlake in a report on Thursday, August 8th. They issued an “outperform” rating and a $170.00 price target for the company. Barclays raised Westlake from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $162.00 to $180.00 in a report on Monday, September 30th. StockNews.com cut Westlake from a “hold” rating to a “sell” rating in a research note on Thursday, September 19th. Finally, Piper Sandler cut their price target on Westlake from $180.00 to $170.00 and set an “overweight” rating on the stock in a research note on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $162.17.

Institutional Trading of Westlake

Several hedge funds have recently bought and sold shares of the stock. Pathway Financial Advisers LLC bought a new stake in shares of Westlake during the first quarter worth $43,000. Continuum Advisory LLC increased its holdings in 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 purchasing an additional 96 shares in the last quarter. Quest Partners LLC raised its stake in shares of Westlake by 8,400.0% in the 2nd quarter. Quest Partners LLC now owns 340 shares of the specialty chemicals company’s stock valued at $49,000 after purchasing an additional 336 shares during the period. Brooklyn Investment Group bought a new stake in shares of Westlake in the third quarter valued at about $62,000. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Westlake during the second quarter worth about $66,000. 28.40% of the stock is currently owned by institutional investors and hedge funds.

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.