Bank of New York Mellon Corp boosted its position in shares of Westlake Chemical Partners LP (NYSE:WLKP) by 9.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,576 shares of the basic materials company’s stock after buying an additional 5,438 shares during the period. Bank of New York Mellon Corp owned approximately 0.22% of Westlake Chemical Partners worth $1,523,000 at the end of the most recent quarter.

Separately, Renaissance Technologies LLC boosted its position in shares of Westlake Chemical Partners by 185.3% in the fourth quarter. Renaissance Technologies LLC now owns 43,647 shares of the basic materials company’s stock worth $945,000 after buying an additional 28,347 shares in the last quarter. 79.33% of the stock is owned by institutional investors.

Shares of Westlake Chemical Partners LP (WLKP) traded up 1.09% during trading on Friday, reaching $23.20. The company’s stock had a trading volume of 27,576 shares. The stock’s 50 day moving average is $24.44 and its 200 day moving average is $24.75. The firm has a market cap of $627.77 million, a P/E ratio of 16.20 and a beta of 1.24. Westlake Chemical Partners LP has a one year low of $19.25 and a one year high of $26.25.

Westlake Chemical Partners (NYSE:WLKP) last announced its quarterly earnings results on Thursday, August 3rd. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by $0.05. The business had revenue of $290.11 million for the quarter, compared to the consensus estimate of $381.59 million. Westlake Chemical Partners had a net margin of 3.60% and a return on equity of 4.34%. The company’s revenue for the quarter was up 37.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.34 earnings per share. On average, equities analysts forecast that Westlake Chemical Partners LP will post $1.50 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 29th. Stockholders of record on Tuesday, August 15th will be issued a dividend of $0.365 per share. This is an increase from Westlake Chemical Partners’s previous quarterly dividend of $0.35. This represents a $1.46 dividend on an annualized basis and a dividend yield of 6.29%. The ex-dividend date of this dividend is Friday, August 11th. Westlake Chemical Partners’s dividend payout ratio is presently 102.82%.

ILLEGAL ACTIVITY NOTICE: This news story was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this news story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright and trademark law. The legal version of this news story can be read at

Separately, ValuEngine cut Westlake Chemical Partners from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 31st.

Westlake Chemical Partners Company Profile

Westlake Chemical Partners LP is a limited partnership formed by Westlake Chemical Corporation (Westlake). The Company operates, acquires and develops ethylene production facilities and other assets. Its business and operations are conducted through Westlake Chemical OpCo LP (OpCo). OpCo sells ethylene to Westlake and others, as well as sells co-products of ethylene production, including propylene, crude butadiene, pyrolysis gasoline and hydrogen.

Institutional Ownership by Quarter for Westlake Chemical Partners (NYSE:WLKP)

Receive News & Stock Ratings for Westlake Chemical Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Westlake Chemical Partners LP and related stocks with our FREE daily email newsletter.