BP Capital Fund Advisors LLC Sells 54,599 Shares of Westlake Chemical Corporation (WLK)

BP Capital Fund Advisors LLC reduced its position in shares of Westlake Chemical Corporation (NYSE:WLK) by 38.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,226 shares of the specialty chemicals company’s stock after selling 54,599 shares during the period. Westlake Chemical Corporation makes up approximately 2.6% of BP Capital Fund Advisors LLC’s portfolio, making the stock its 12th largest position. BP Capital Fund Advisors LLC owned approximately 0.07% of Westlake Chemical Corporation worth $5,695,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the stock. Amalgamated Bank raised its stake in shares of Westlake Chemical Corporation by 3.4% in the first quarter. Amalgamated Bank now owns 5,445 shares of the specialty chemicals company’s stock worth $360,000 after buying an additional 177 shares in the last quarter. ARGI Investment Services LLC raised its stake in shares of Westlake Chemical Corporation by 1.7% in the first quarter. ARGI Investment Services LLC now owns 19,971 shares of the specialty chemicals company’s stock worth $1,320,000 after buying an additional 335 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of Westlake Chemical Corporation by 0.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 52,727 shares of the specialty chemicals company’s stock worth $3,483,000 after buying an additional 358 shares in the last quarter. Polaris Greystone Financial Group LLC raised its stake in shares of Westlake Chemical Corporation by 3.5% in the first quarter. Polaris Greystone Financial Group LLC now owns 15,718 shares of the specialty chemicals company’s stock worth $1,038,000 after buying an additional 537 shares in the last quarter. Finally, Miller Howard Investments Inc. NY raised its stake in shares of Westlake Chemical Corporation by 0.4% in the first quarter. Miller Howard Investments Inc. NY now owns 141,240 shares of the specialty chemicals company’s stock worth $9,329,000 after buying an additional 581 shares in the last quarter. Hedge funds and other institutional investors own 30.18% of the company’s stock.

Institutional Ownership by Quarter for Westlake Chemical Corporation (NYSE:WLK)

Shares of Westlake Chemical Corporation (WLK) traded up 1.41% on Monday, hitting $64.55. The stock had a trading volume of 893,647 shares. Westlake Chemical Corporation has a one year low of $39.48 and a one year high of $68.08. The company has a market cap of $8.32 billion, a price-to-earnings ratio of 21.09 and a beta of 1.61. The firm’s 50-day moving average is $62.61 and its 200-day moving average is $62.34.

Westlake Chemical Corporation (NYSE:WLK) last issued its earnings results on Tuesday, May 2nd. The specialty chemicals company reported $1.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.46. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.62 billion. Westlake Chemical Corporation had a net margin of 6.85% and a return on equity of 14.09%. The business’s revenue was up 99.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.94 earnings per share. On average, analysts expect that Westlake Chemical Corporation will post $4.56 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 13th. Stockholders of record on Tuesday, May 30th were paid a dividend of $0.1906 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend was Thursday, May 25th. Westlake Chemical Corporation’s dividend payout ratio is currently 23.90%.

ILLEGAL ACTIVITY WARNING: This piece was originally published by BBNS and is the property of of BBNS. If you are viewing this piece on another publication, it was illegally copied and republished in violation of international copyright law. The legal version of this piece can be viewed at https://baseballnewssource.com/markets/bp-capital-fund-advisors-llc-sells-54599-shares-of-westlake-chemical-corporation-wlk/1044158.html.

A number of brokerages recently commented on WLK. J P Morgan Chase & Co upped their target price on Westlake Chemical Corporation from $70.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, May 31st. Cowen and Company upped their target price on Westlake Chemical Corporation from $66.00 to $70.00 and gave the company an “outperform” rating in a research report on Tuesday, May 23rd. Bank of America Corporation reiterated a “neutral” rating and issued a $68.00 target price on shares of Westlake Chemical Corporation in a research report on Monday, May 8th. Royal Bank Of Canada restated a “buy” rating and issued a $75.00 price objective on shares of Westlake Chemical Corporation in a research report on Tuesday, April 25th. Finally, Citigroup Inc. lowered their price objective on Westlake Chemical Corporation from $66.00 to $64.00 and set a “buy” rating on the stock in a research report on Friday, April 14th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $63.50.

In other news, VP George J. Mangieri sold 6,578 shares of the business’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $62.21, for a total transaction of $409,217.38. Following the completion of the sale, the vice president now directly owns 6,577 shares of the company’s stock, valued at $409,155.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 72.50% of the stock is currently owned by insiders.

Westlake Chemical Corporation Company Profile

Westlake Chemical Corporation is a global manufacturer and marketer of basic chemicals, vinyls, polymers and building products. The Company’s products include a range of chemicals, which are fundamental to various consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, water treatment, refrigerants, residential and commercial construction, as well as other durable and non-durable goods.

Receive News & Ratings for Westlake Chemical Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Westlake Chemical Corporation and related companies with our FREE daily email newsletter.

 


Latest News

Hitters in Major League Baseball on Record Home Run Pace
Hitters in Major League Baseball on Record Home Run Pace
Atlanta Considering Playing Freddie Freeman at Third
Atlanta Considering Playing Freddie Freeman at Third
Injury to Gleyber Torres Adds to Questions About Yankees
Injury to Gleyber Torres Adds to Questions About Yankees
Game Winning Home Run Completes Nolan Arenado Cycle
Game Winning Home Run Completes Nolan Arenado Cycle
New York Yankees and Masahiro Tanaka Hit Hard Again
New York Yankees and Masahiro Tanaka Hit Hard Again
Victor Martinez Diagnosed with Irregular Heartbeat
Victor Martinez Diagnosed with Irregular Heartbeat


Leave a Reply

 
© 2006-2017 BBNS.