Westlake Chemical Corp. (WLK) Insider Robert F. Buesinger Sells 2,880 Shares of Stock
Westlake Chemical Corp. (NYSE:WLK) insider Robert F. Buesinger sold 2,880 shares of the stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $54.42, for a total transaction of $156,729.60. Following the completion of the transaction, the insider now directly owns 11,035 shares of the company’s stock, valued at approximately $600,524.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Westlake Chemical Corp. (NYSE:WLK) opened at 53.78 on Tuesday. Westlake Chemical Corp. has a 12-month low of $39.48 and a 12-month high of $61.21. The company has a market capitalization of $6.93 billion, a PE ratio of 17.21 and a beta of 1.89. The firm’s 50 day moving average price is $52.34 and its 200-day moving average price is $48.13.
Westlake Chemical Corp. (NYSE:WLK) last posted its earnings results on Tuesday, November 8th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by $0.39. Westlake Chemical Corp. had a net margin of 9.50% and a return on equity of 13.56%. The firm earned $1.28 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the prior year, the company posted $1.39 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. On average, equities analysts anticipate that Westlake Chemical Corp. will post $3.69 earnings per share for the current fiscal year.
A number of research analysts have recently commented on the stock. Vetr raised shares of Westlake Chemical Corp. from a “hold” rating to a “strong-buy” rating and set a $59.00 target price for the company in a report on Tuesday, September 6th. Nomura set a $53.00 price objective on Westlake Chemical Corp. and gave the company a “hold” rating in a research note on Monday, August 1st. Tudor Pickering assumed coverage on Westlake Chemical Corp. in a research note on Thursday, October 13th. They issued a “hold” rating and a $53.00 price objective for the company. RBC Capital Markets raised Westlake Chemical Corp. from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $47.00 to $59.00 in a research note on Tuesday, August 23rd. Finally, JPMorgan Chase & Co. upped their price objective on Westlake Chemical Corp. from $55.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, August 16th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $56.80.
A number of hedge funds and other institutional investors have recently bought and sold shares of WLK. Toronto Dominion Bank purchased a new position in Westlake Chemical Corp. during the third quarter worth $107,000. MSI Financial Services Inc boosted its stake in shares of Westlake Chemical Corp. by 22.4% in the third quarter. MSI Financial Services Inc now owns 3,493 shares of the company’s stock worth $187,000 after buying an additional 640 shares during the last quarter. Profund Advisors LLC bought a new stake in shares of Westlake Chemical Corp. during the third quarter worth approximately $207,000. Cubist Systematic Strategies LLC bought a new stake in shares of Westlake Chemical Corp. during the second quarter worth approximately $167,000. Finally, Pacer Advisors Inc. boosted its stake in shares of Westlake Chemical Corp. by 508.3% in the second quarter. Pacer Advisors Inc. now owns 4,568 shares of the company’s stock worth $196,000 after buying an additional 3,817 shares during the last quarter. 28.29% of the stock is currently owned by institutional investors.
About Westlake Chemical Corp.
Westlake Chemical Corporation is a vertically integrated 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 diverse consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, residential and commercial construction, as well as other durable and non-durable goods.
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