Westlake Chemical Co. (NYSE:WLK) CFO Mark Steven Bender sold 4,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $110.97, for a total transaction of $443,880.00. Following the transaction, the chief financial officer now directly owns 22,810 shares of the company’s stock, valued at $2,531,225.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Mark Steven Bender also recently made the following trade(s):
- On Monday, December 4th, Mark Steven Bender sold 6,500 shares of Westlake Chemical stock. The stock was sold at an average price of $97.83, for a total transaction of $635,895.00.
Shares of Westlake Chemical Co. (NYSE WLK) traded down $0.41 during mid-day trading on Friday, reaching $110.63. 418,646 shares of the company traded hands, compared to its average volume of 804,738. Westlake Chemical Co. has a 12-month low of $59.58 and a 12-month high of $115.19. The company has a market cap of $14,310.00, a P/E ratio of 20.38, a P/E/G ratio of 1.25 and a beta of 1.62. The company has a quick ratio of 1.59, a current ratio of 2.31 and a debt-to-equity ratio of 0.74.
Westlake Chemical (NYSE:WLK) last announced its quarterly earnings results on Tuesday, February 20th. The specialty chemicals company reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.07). Westlake Chemical had a net margin of 16.22% and a return on equity of 17.54%. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the prior year, the business earned $0.87 earnings per share. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. equities research analysts predict that Westlake Chemical Co. will post 7.48 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 13th. Investors of record on Tuesday, February 27th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Monday, February 26th. Westlake Chemical’s dividend payout ratio is currently 15.44%.
A number of hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company lifted its holdings in Westlake Chemical by 5.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,922 shares of the specialty chemicals company’s stock valued at $260,000 after purchasing an additional 211 shares during the last quarter. Voya Investment Management LLC lifted its holdings in Westlake Chemical by 2.5% during the 2nd quarter. Voya Investment Management LLC now owns 11,852 shares of the specialty chemicals company’s stock valued at $785,000 after purchasing an additional 286 shares during the last quarter. Hanseatic Management Services Inc. lifted its holdings in Westlake Chemical by 7.0% during the 4th quarter. Hanseatic Management Services Inc. now owns 10,216 shares of the specialty chemicals company’s stock valued at $1,088,000 after purchasing an additional 664 shares during the last quarter. Private Advisor Group LLC lifted its holdings in Westlake Chemical by 22.4% during the 3rd quarter. Private Advisor Group LLC now owns 4,148 shares of the specialty chemicals company’s stock valued at $351,000 after purchasing an additional 760 shares during the last quarter. Finally, Aperio Group LLC lifted its holdings in Westlake Chemical by 4.8% during the 3rd quarter. Aperio Group LLC now owns 17,650 shares of the specialty chemicals company’s stock valued at $1,467,000 after purchasing an additional 814 shares during the last quarter. 32.76% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on WLK shares. Johnson Rice started coverage on shares of Westlake Chemical in a report on Monday, November 6th. They set an “accumulate” rating and a $100.00 price objective for the company. SunTrust Banks reaffirmed a “buy” rating and set a $102.00 price objective (up from $93.00) on shares of Westlake Chemical in a report on Friday, November 17th. Nomura raised their price objective on shares of Westlake Chemical from $98.00 to $108.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. ValuEngine raised shares of Westlake Chemical from a “hold” rating to a “buy” rating in a report on Tuesday, November 7th. Finally, Deutsche Bank reaffirmed a “buy” rating and set a $115.00 price objective on shares of Westlake Chemical in a report on Wednesday, December 13th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Westlake Chemical presently has a consensus rating of “Buy” and a consensus target price of $110.86.
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Westlake Chemical 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.
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