Shares of Westlake Chemical Corporation (NYSE:WLK) have received an average recommendation of “Buy” from the fourteen brokerages that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $93.55.

Several research firms have weighed in on WLK. Zacks Investment Research raised shares of Westlake Chemical Corporation from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a research note on Friday, October 13th. Wells Fargo & Company reaffirmed a “positive” rating and set a $94.00 price objective (up from $77.00) on shares of Westlake Chemical Corporation in a research note on Wednesday, September 27th. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $93.00 price objective on shares of Westlake Chemical Corporation in a research note on Thursday, September 28th. Johnson Rice began coverage on shares of Westlake Chemical Corporation in a research note on Monday, November 6th. They set an “accumulate” rating and a $100.00 price objective for the company. Finally, ValuEngine raised shares of Westlake Chemical Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, November 7th.

Westlake Chemical Corporation (NYSE WLK) traded up $0.11 during trading on Friday, reaching $94.41. 734,700 shares of the company’s stock traded hands, compared to its average volume of 857,051. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.31 and a quick ratio of 1.59. The company has a market capitalization of $12,180.00, a P/E ratio of 18.90, a PEG ratio of 1.78 and a beta of 1.67. Westlake Chemical Corporation has a 1-year low of $54.11 and a 1-year high of $96.14.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Monday, November 27th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Friday, November 24th. Westlake Chemical Corporation’s dividend payout ratio is currently 18.22%.

In related news, CEO Albert Chao sold 25,000 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $94.34, for a total transaction of $2,358,500.00. Following the transaction, the chief executive officer now owns 299,018 shares in the company, valued at $28,209,358.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP George J. Mangieri sold 13,381 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $94.44, for a total transaction of $1,263,701.64. Following the transaction, the senior vice president now owns 10,195 shares in the company, valued at approximately $962,815.80. The disclosure for this sale can be found here. Insiders have sold 110,860 shares of company stock worth $10,432,968 in the last quarter. 72.50% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. California Public Employees Retirement System increased its position in shares of Westlake Chemical Corporation by 1.8% during the second quarter. California Public Employees Retirement System now owns 113,600 shares of the specialty chemicals company’s stock valued at $7,521,000 after buying an additional 2,000 shares during the period. Morgan Stanley increased its position in shares of Westlake Chemical Corporation by 15.1% during the first quarter. Morgan Stanley now owns 26,028 shares of the specialty chemicals company’s stock valued at $1,718,000 after buying an additional 3,413 shares during the period. Polaris Greystone Financial Group LLC increased its position in shares of Westlake Chemical Corporation by 9.9% during the second quarter. Polaris Greystone Financial Group LLC now owns 17,272 shares of the specialty chemicals company’s stock valued at $1,144,000 after buying an additional 1,554 shares during the period. Alliancebernstein L.P. increased its position in shares of Westlake Chemical Corporation by 165.2% during the second quarter. Alliancebernstein L.P. now owns 45,411 shares of the specialty chemicals company’s stock valued at $3,007,000 after buying an additional 28,285 shares during the period. Finally, TIAA CREF Investment Management LLC increased its position 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. Institutional investors own 29.45% of the company’s stock.

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Westlake Chemical Corporation Company 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.

Analyst Recommendations for Westlake Chemical Corporation (NYSE:WLK)

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