News articles about Westlake Chemical (NYSE:WLK) have been trending somewhat positive on Thursday, according to Accern Sentiment Analysis. The research firm rates the sentiment of news coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Westlake Chemical earned a media sentiment score of 0.04 on Accern’s scale. Accern also assigned media headlines about the specialty chemicals company an impact score of 45.7323554493239 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
Here are some of the news stories that may have impacted Accern Sentiment’s analysis:
NYSE:WLK traded up $0.85 on Thursday, reaching $108.92. The stock had a trading volume of 778,847 shares, compared to its average volume of 799,916. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.76 and a quick ratio of 1.30. The stock has a market cap of $14,108.05, a P/E ratio of 19.91, a PEG ratio of 1.05 and a beta of 1.53. Westlake Chemical has a 12-month low of $59.58 and a 12-month high of $121.30.
Westlake Chemical (NYSE:WLK) last issued its quarterly earnings results on Tuesday, February 20th. The specialty chemicals company reported $1.62 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.07). Westlake Chemical had a return on equity of 16.48% and a net margin of 16.22%. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the previous year, the business posted $0.87 EPS. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. equities analysts expect that Westlake Chemical will post 8.49 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 13th. Stockholders of record on Tuesday, February 27th were given a dividend of $0.21 per share. The ex-dividend date was Monday, February 26th. This represents a $0.84 annualized dividend and a dividend yield of 0.77%. Westlake Chemical’s payout ratio is 15.36%.
Several brokerages recently issued reports on WLK. Vertical Research downgraded Westlake Chemical from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Wells Fargo reissued an “outperform” rating and issued a $122.00 price objective (up from $112.00) on shares of Westlake Chemical in a research report on Wednesday, January 17th. Bank of America cut shares of Westlake Chemical from a “neutral” rating to an “underperform” rating and set a $105.00 price objective for the company. in a research report on Tuesday, January 16th. They noted that the move was a valuation call. UBS reissued a “sell” rating and issued a $87.00 price objective (up from $80.00) on shares of Westlake Chemical in a research report on Wednesday, February 21st. Finally, Zacks Investment Research cut shares of Westlake Chemical from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 14th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $112.73.
In other news, CAO L. Benjamin Ederington sold 6,942 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $111.45, for a total transaction of $773,685.90. Following the transaction, the chief accounting officer now owns 13,111 shares of the company’s stock, valued at $1,461,220.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark Steven Bender sold 4,000 shares of the 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 in the company, valued at approximately $2,531,225.70. The disclosure for this sale can be found here. Insiders have sold 103,080 shares of company stock worth $11,545,548 in the last ninety days. Corporate insiders own 71.70% of the company’s stock.
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Westlake Chemical Company Profile
Westlake Chemical Corporation manufactures and markets basic chemicals, vinyls, polymers, and building products primarily in North America and Europe. It operates through two segments, Olefins and Vinyls. The Olefins segment offers polyethylene, styrene monomers, and various ethylene co-products, as well as sells propylene, crude butadiene, pyrolysis gasoline, and hydrogen products.
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