Westlake Corporation (NYSE:WLK – Get Free Report) has been given a consensus rating of “Hold” by the fifteen analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $93.9231.
A number of research analysts have commented on WLK shares. Bank of America reduced their price objective on shares of Westlake from $104.00 to $85.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 30th. Wall Street Zen raised shares of Westlake from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Royal Bank Of Canada restated an “outperform” rating and issued a $95.00 target price (up from $89.00) on shares of Westlake in a research note on Thursday, August 6th. The Goldman Sachs Group set a $85.00 price target on shares of Westlake in a research report on Thursday, July 16th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Westlake in a research note on Friday, July 17th.
Read Our Latest Report on Westlake
Insider Activity at Westlake
Hedge Funds Weigh In On Westlake
Large investors have recently added to or reduced their stakes in the company. State of Michigan Retirement System boosted its position in Westlake by 1.3% during the 1st quarter. State of Michigan Retirement System now owns 8,000 shares of the specialty chemicals company’s stock valued at $935,000 after purchasing an additional 100 shares during the period. Daiwa Securities Group Inc. grew its stake in Westlake by 2.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,108 shares of the specialty chemicals company’s stock worth $304,000 after buying an additional 117 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Westlake by 0.6% in the second quarter. The Manufacturers Life Insurance Company now owns 28,134 shares of the specialty chemicals company’s stock worth $2,136,000 after buying an additional 165 shares during the period. PNC Financial Services Group Inc. increased its position in Westlake by 14.0% in the first quarter. PNC Financial Services Group Inc. now owns 1,522 shares of the specialty chemicals company’s stock worth $178,000 after buying an additional 187 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its stake in Westlake by 3.0% in the first quarter. Oregon Public Employees Retirement Fund now owns 6,868 shares of the specialty chemicals company’s stock valued at $802,000 after buying an additional 200 shares during the last quarter. 28.40% of the stock is currently owned by institutional investors.
Westlake Price Performance
Shares of NYSE WLK opened at $75.87 on Tuesday. Westlake has a fifty-two week low of $56.33 and a fifty-two week high of $124.23. The business has a 50 day moving average price of $76.09 and a two-hundred day moving average price of $92.95. The company has a quick ratio of 1.70, a current ratio of 2.45 and a debt-to-equity ratio of 0.55. The firm has a market cap of $9.70 billion, a PE ratio of -7.92 and a beta of 0.63.
Westlake (NYSE:WLK – Get Free Report) last announced its earnings results on Tuesday, August 4th. The specialty chemicals company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.18. The company had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.24 billion. Westlake had a positive return on equity of 0.93% and a negative net margin of 10.94%.Westlake’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the company posted ($1.11) EPS. Sell-side analysts expect that Westlake will post 3.35 earnings per share for the current fiscal year.
Westlake Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th will be issued a dividend of $0.533 per share. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $2.13 dividend on an annualized basis and a yield of 2.8%. This is a boost from Westlake’s previous quarterly dividend of $0.53. Westlake’s dividend payout ratio (DPR) is -22.23%.
About Westlake
Westlake Corp. is a global manufacturer of petrochemicals, polymers and building products, serving customers across industrial and residential markets. The company’s core operations encompass the production of vinyls—primarily polyvinyl chloride (PVC) and its key feedstock vinyl chloride monomer (VCM)—as well as chlor-alkali products including caustic soda and chlorine. In addition, Westlake produces ethylene, propylene and specialty elastomers, along with construction-related materials such as vinyl siding, trim, windows and roofing systems.
Operating a network of vertically integrated plants and distribution centers, Westlake serves markets in North America, Europe and Asia.
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