Bayesian Capital Management LP decreased its holdings in shares of Westlake Chemical Corporation (NYSE:WLK) by 25.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,067 shares of the specialty chemicals company’s stock after selling 1,400 shares during the period. Bayesian Capital Management LP’s holdings in Westlake Chemical Corporation were worth $269,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in WLK. Vanguard Group Inc. lifted its holdings in Westlake Chemical Corporation by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 4,277,676 shares of the specialty chemicals company’s stock worth $283,225,000 after buying an additional 75,728 shares during the period. FMR LLC increased its stake in shares of Westlake Chemical Corporation by 15.0% during the second quarter. FMR LLC now owns 2,808,967 shares of the specialty chemicals company’s stock valued at $185,981,000 after buying an additional 366,537 shares during the period. BlackRock Inc. increased its stake in shares of Westlake Chemical Corporation by 14,246.4% during the first quarter. BlackRock Inc. now owns 1,699,615 shares of the specialty chemicals company’s stock valued at $112,260,000 after buying an additional 1,687,768 shares during the period. TIAA CREF Investment Management LLC increased its stake in shares of Westlake Chemical Corporation by 14.8% during the second quarter. TIAA CREF Investment Management LLC now owns 1,570,608 shares of the specialty chemicals company’s stock valued at $103,990,000 after buying an additional 202,453 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of Westlake Chemical Corporation by 12.1% during the first quarter. Wellington Management Group LLP now owns 1,308,381 shares of the specialty chemicals company’s stock valued at $86,420,000 after buying an additional 141,114 shares during the period. 31.97% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION WARNING: This story was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this story on another publication, it was stolen and republished in violation of U.S. and international copyright & trademark laws. The correct version of this story can be read at https://www.thecerbatgem.com/2017/10/03/westlake-chemical-corporation-wlk-holdings-reduced-by-bayesian-capital-management-lp.html.

In related news, VP Mark Steven Bender sold 13,794 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $70.22, for a total value of $968,614.68. Following the completion of the transaction, the vice president now owns 44,449 shares of the company’s stock, valued at $3,121,208.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 72.50% of the company’s stock.

A number of equities analysts recently commented on the company. BidaskClub upgraded Westlake Chemical Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Cowen and Company reiterated a “buy” rating and issued a $70.00 price target on shares of Westlake Chemical Corporation in a report on Friday, July 14th. Royal Bank Of Canada reissued a “buy” rating on shares of Westlake Chemical Corporation in a research report on Friday, August 4th. Zacks Investment Research lowered shares of Westlake Chemical Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Finally, SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $86.00 target price on shares of Westlake Chemical Corporation in a research report on Wednesday, September 6th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Westlake Chemical Corporation presently has an average rating of “Buy” and an average target price of $76.50.

Shares of Westlake Chemical Corporation (NYSE:WLK) opened at 84.77 on Tuesday. The firm has a 50-day moving average of $77.09 and a 200-day moving average of $68.35. The stock has a market cap of $10.94 billion, a PE ratio of 24.23 and a beta of 1.63. Westlake Chemical Corporation has a one year low of $48.92 and a one year high of $84.84.

Westlake Chemical Corporation (NYSE:WLK) last posted its quarterly earnings results on Thursday, August 3rd. The specialty chemicals company reported $1.21 EPS for the quarter, beating the consensus estimate of $1.19 by $0.02. Westlake Chemical Corporation had a net margin of 6.57% and a return on equity of 13.68%. The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $2 billion. During the same quarter in the previous year, the business posted $0.85 EPS. The company’s quarterly revenue was up 82.2% compared to the same quarter last year. On average, equities research analysts expect that Westlake Chemical Corporation will post $4.80 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 18th. Investors of record on Friday, September 1st were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.99%. This is a positive change from Westlake Chemical Corporation’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Wednesday, August 30th. Westlake Chemical Corporation’s dividend payout ratio (DPR) is presently 24.00%.

Westlake Chemical Corporation Profile

Westlake Chemical Corporation is a 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 consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, water treatment, refrigerants, residential and commercial construction, as well as other durable and non-durable goods.

Want to see what other hedge funds are holding WLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Westlake Chemical Corporation (NYSE:WLK).

Institutional Ownership by Quarter for Westlake Chemical Corporation (NYSE:WLK)

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