Westlake Chemical Co. (NYSE:WLK) EVP Robert F. Buesinger sold 2,674 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $98.50, for a total transaction of $263,389.00. Following the sale, the executive vice president now owns 6,635 shares of the company’s stock, valued at approximately $653,547.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Westlake Chemical Co. (NYSE WLK) traded down $0.72 during trading hours on Thursday, hitting $97.69. 1,001,800 shares of the company were exchanged, compared to its average volume of 859,914. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.31 and a quick ratio of 1.59. The stock has a market cap of $12,705.46, a PE ratio of 19.72, a P/E/G ratio of 1.78 and a beta of 1.71. Westlake Chemical Co. has a 1 year low of $55.83 and a 1 year high of $99.71.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Monday, November 27th will be given a dividend of $0.21 per share. The ex-dividend date is Friday, November 24th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.86%. Westlake Chemical’s payout ratio is currently 18.26%.
Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Westlake Chemical by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 4,277,676 shares of the specialty chemicals company’s stock worth $283,225,000 after purchasing an additional 75,728 shares during the period. FMR LLC boosted its position in Westlake Chemical by 15.0% in the 2nd quarter. FMR LLC now owns 2,808,967 shares of the specialty chemicals company’s stock valued at $185,981,000 after buying an additional 366,537 shares during the period. TIAA CREF Investment Management LLC boosted its position in Westlake Chemical by 14.8% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 1,570,608 shares of the specialty chemicals company’s stock valued at $103,990,000 after buying an additional 202,453 shares during the period. Janus Henderson Group PLC purchased a new position in Westlake Chemical in the 2nd quarter valued at approximately $90,442,000. Finally, Bank of New York Mellon Corp boosted its position in Westlake Chemical by 218.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 934,937 shares of the specialty chemicals company’s stock valued at $77,683,000 after buying an additional 641,432 shares during the period. 30.42% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently issued reports on the stock. Wells Fargo & Company restated an “outperform” rating and set a $112.00 price target (up previously from $105.00) on shares of Westlake Chemical in a report on Thursday. Royal Bank Of Canada restated an “outperform” rating and set a $114.00 price target (up previously from $103.00) on shares of Westlake Chemical in a report on Thursday, November 9th. Alembic Global Advisors restated a “buy” rating on shares of Westlake Chemical in a report on Friday, November 24th. J P Morgan Chase & Co reaffirmed a “buy” rating and set a $104.00 price objective on shares of Westlake Chemical in a research report on Friday, November 24th. Finally, ValuEngine cut shares of Westlake Chemical from a “buy” rating to a “hold” rating in a research report on Tuesday, November 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $98.09.
About Westlake Chemical
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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