Michael J. Mattina Sells 18,274 Shares of Westlake Chemical Corp. (WLK) Stock
Westlake Chemical Corp. (NYSE:WLK) VP Michael J. Mattina sold 18,274 shares of Westlake Chemical Corp. stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $53.78, for a total transaction of $982,775.72. Following the sale, the vice president now owns 21,421 shares of the company’s stock, valued at $1,152,021.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Westlake Chemical Corp. (NYSE:WLK) opened at 52.83 on Monday. The company has a 50-day moving average of $52.34 and a 200-day moving average of $48.13. The stock has a market cap of $6.81 billion, a P/E ratio of 16.91 and a beta of 1.89. Westlake Chemical Corp. has a 52 week low of $39.48 and a 52 week high of $61.21.
Westlake Chemical Corp. (NYSE:WLK) last released its earnings results on Tuesday, November 8th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.90 by $0.39. The firm earned $1.28 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Westlake Chemical Corp. had a net margin of 9.50% and a return on equity of 13.56%. Westlake Chemical Corp.’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the company posted $1.39 earnings per share. On average, analysts predict that Westlake Chemical Corp. will post $3.73 EPS for the current fiscal year.
A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. set a $60.00 price target on shares of Westlake Chemical Corp. and gave the company a “buy” rating in a research report on Friday, November 11th. Tudor Pickering assumed coverage on shares of Westlake Chemical Corp. in a research report on Thursday, October 13th. They set a “hold” rating and a $53.00 price target for the company. Goldman Sachs Group Inc. reiterated a “neutral” rating and set a $51.00 price target on shares of Westlake Chemical Corp. in a research report on Friday, September 30th. Vetr cut shares of Westlake Chemical Corp. from a “buy” rating to a “hold” rating and set a $54.51 price target for the company. in a research report on Monday, September 5th. Finally, Cowen and Company lifted their price target on shares of Westlake Chemical Corp. from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, September 1st. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $56.80.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Toronto Dominion Bank bought a new position in shares of Westlake Chemical Corp. during the third quarter valued at $107,000. Cubist Systematic Strategies LLC bought a new position in shares of Westlake Chemical Corp. during the second quarter valued at $167,000. MSI Financial Services Inc raised its position 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 valued at $187,000 after buying an additional 640 shares during the last quarter. Pacer Advisors Inc. raised its position 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 valued at $196,000 after buying an additional 3,817 shares during the last quarter. Finally, Profund Advisors LLC bought a new position in shares of Westlake Chemical Corp. during the third quarter valued at $207,000. Institutional investors and hedge funds own 28.29% of the company’s stock.
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.
Receive News & Stock Ratings for Westlake Chemical Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Westlake Chemical Corp. and related stocks with our FREE daily email newsletter.