Westlake Chemical Corporation (NYSE:WLK)‘s stock had its “buy” rating reiterated by stock analysts at Alembic Global Advisors in a research report issued on Friday.

Several other equities research analysts also recently weighed in on the company. UBS AG upped their price target on Westlake Chemical Corporation from $56.00 to $61.00 and gave the stock a “sell” rating in a report on Friday, October 13th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Westlake Chemical Corporation in a research report on Wednesday, September 6th. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $86.00 price objective on shares of Westlake Chemical Corporation in a research report on Wednesday, September 6th. Zacks Investment Research raised Westlake Chemical Corporation from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a research report on Friday, October 13th. Finally, Citigroup Inc. assumed coverage on Westlake Chemical Corporation in a research report on Tuesday, October 24th. They set a “buy” rating and a $97.00 price objective for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $96.45.

Shares of Westlake Chemical Corporation (NYSE WLK) traded up $0.38 during midday trading on Friday, reaching $94.79. The company’s stock had a trading volume of 810,900 shares, compared to its average volume of 856,847. The company has a current ratio of 2.31, a quick ratio of 1.59 and a debt-to-equity ratio of 0.74. Westlake Chemical Corporation has a 12 month low of $54.11 and a 12 month high of $96.14. The stock has a market cap of $12,238.09, a P/E ratio of 19.00, a price-to-earnings-growth ratio of 1.79 and a beta of 1.67.

TRADEMARK VIOLATION WARNING: “Westlake Chemical Corporation (WLK) Earns Buy Rating from Alembic Global Advisors” was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this article on another site, it was illegally stolen and reposted in violation of United States & international trademark and copyright laws. The original version of this article can be accessed at https://www.thecerbatgem.com/2017/11/24/westlake-chemical-corporation-wlk-earns-buy-rating-from-alembic-global-advisors.html.

In other news, Director Robert T. Blakely sold 4,367 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $92.33, for a total transaction of $403,205.11. Following the completion of the transaction, the director now directly owns 11,700 shares of the company’s stock, valued at approximately $1,080,261. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Robert F. Buesinger sold 5,214 shares of the stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $93.82, for a total value of $489,177.48. Following the transaction, the executive vice president now directly owns 14,523 shares of the company’s stock, valued at $1,362,547.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,860 shares of company stock valued at $10,432,968. Company insiders own 71.70% of the company’s stock.

Several hedge funds have recently modified their holdings of WLK. GSA Capital Partners LLP purchased a new position in Westlake Chemical Corporation in the 3rd quarter valued at approximately $326,000. Tortoise Capital Advisors L.L.C. increased its stake in Westlake Chemical Corporation by 6,376.2% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 1,360 shares of the specialty chemicals company’s stock valued at $113,000 after purchasing an additional 1,339 shares in the last quarter. California Public Employees Retirement System increased its stake in Westlake Chemical Corporation by 1.6% in the 3rd quarter. California Public Employees Retirement System now owns 115,384 shares of the specialty chemicals company’s stock valued at $9,587,000 after purchasing an additional 1,784 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in Westlake Chemical Corporation by 2,024.0% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,779 shares of the specialty chemicals company’s stock valued at $397,000 after purchasing an additional 4,554 shares in the last quarter. Finally, Highbridge Capital Management LLC increased its stake in Westlake Chemical Corporation by 60.7% in the 3rd quarter. Highbridge Capital Management LLC now owns 198,511 shares of the specialty chemicals company’s stock valued at $16,494,000 after purchasing an additional 75,000 shares in the last quarter. 29.45% of the stock is owned by institutional investors and hedge funds.

About Westlake Chemical Corporation

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)

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.