Westlake Chemical Corp. (NYSE:WLK) declared a quarterly dividend on Monday, November 21st. Investors of record on Thursday, December 1st will be paid a dividend of 0.1906 per share on Friday, December 16th. This represents a $0.76 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Tuesday, November 29th.

Westlake Chemical Corp. (NYSE:WLK) opened at 55.84 on Tuesday. The company has a 50-day moving average of $52.80 and a 200-day moving average of $48.29. The firm has a market capitalization of $7.20 billion, a price-to-earnings ratio of 17.87 and a beta of 1.89. Westlake Chemical Corp. has a 52 week low of $39.48 and a 52 week high of $60.95.

Westlake Chemical Corp. (NYSE:WLK) last issued 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 company earned $1.28 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the prior year, the business earned $1.39 EPS. The business’s quarterly revenue was up 7.7% on a year-over-year basis. On average, equities analysts forecast that Westlake Chemical Corp. will post $3.73 earnings per share for the current fiscal year.

Dividend History for Westlake Chemical Corp. (NYSE:WLK)

A number of brokerages have recently commented on WLK. Vetr upgraded shares of Westlake Chemical Corp. from a “hold” rating to a “strong-buy” rating and set a $59.00 price target on the stock in a report on Tuesday, September 6th. Nomura set a $53.00 price target on shares of Westlake Chemical Corp. and gave the stock a “hold” rating in a report on Monday, August 1st. Tudor Pickering began coverage on shares of Westlake Chemical Corp. in a report on Thursday, October 13th. They set a “hold” rating and a $53.00 price target on the stock. RBC Capital Markets upgraded shares of Westlake Chemical Corp. from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $47.00 to $59.00 in a report on Tuesday, August 23rd. Finally, Vertical Research upgraded shares of Westlake Chemical Corp. from a “hold” rating to a “buy” rating in a report on Monday. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $56.80.

In other Westlake Chemical Corp. news, insider Robert F. Buesinger sold 2,880 shares of Westlake Chemical Corp. stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $54.42, for a total value of $156,729.60. Following the completion of the sale, the insider now directly owns 11,035 shares of the company’s stock, valued at $600,524.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Albert Chao sold 20,000 shares of Westlake Chemical Corp. stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $52.95, for a total transaction of $1,059,000.00. Following the completion of the sale, the chief executive officer now directly owns 264,702 shares of the company’s stock, valued at $14,015,970.90. The disclosure for this sale can be found here. 71.70% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of WLK. Jefferies Group LLC boosted its position in shares of Westlake Chemical Corp. by 200.0% in the second quarter. Jefferies Group LLC now owns 6,600 shares of the company’s stock worth $283,000 after buying an additional 13,200 shares in the last quarter. Nuveen Asset Management LLC boosted its position in shares of Westlake Chemical Corp. by 216.8% in the second quarter. Nuveen Asset Management LLC now owns 97,900 shares of the company’s stock worth $4,202,000 after buying an additional 66,997 shares in the last quarter. Laurion Capital Management LP acquired a new position in shares of Westlake Chemical Corp. during the second quarter worth about $215,000. BOKF NA boosted its position in shares of Westlake Chemical Corp. by 7.2% in the second quarter. BOKF NA now owns 29,083 shares of the company’s stock worth $1,249,000 after buying an additional 1,965 shares in the last quarter. Finally, Algert Global LLC boosted its position in shares of Westlake Chemical Corp. by 2.3% in the second quarter. Algert Global LLC now owns 23,541 shares of the company’s stock worth $1,010,000 after buying an additional 521 shares in the last quarter. 26.18% of the stock is owned by hedge funds and other institutional investors.

Westlake Chemical Corp. Company Profile

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.

5 Day Chart for NYSE:WLK

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