Planned Solutions Inc. Takes $87,000 Position in Westlake Co. (NYSE:WLK)

Planned Solutions Inc. bought a new position in shares of Westlake Co. (NYSE:WLK) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 625 shares of the specialty chemicals company’s stock, valued at approximately $87,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James & Associates boosted its stake in Westlake by 3.1% during the first quarter. Raymond James & Associates now owns 16,608 shares of the specialty chemicals company’s stock valued at $2,049,000 after buying an additional 503 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Westlake by 4.3% during the first quarter. Bank of New York Mellon Corp now owns 243,246 shares of the specialty chemicals company’s stock worth $30,017,000 after purchasing an additional 10,077 shares in the last quarter. American Century Companies Inc. increased its position in shares of Westlake by 23.7% in the first quarter. American Century Companies Inc. now owns 8,102 shares of the specialty chemicals company’s stock worth $1,000,000 after purchasing an additional 1,553 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Westlake by 236.9% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 9,313 shares of the specialty chemicals company’s stock valued at $1,149,000 after purchasing an additional 6,549 shares in the last quarter. Finally, MetLife Investment Management LLC purchased a new position in Westlake in the 1st quarter worth approximately $118,000. 28.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Westlake

In related news, EVP Robert F. Buesinger sold 3,878 shares of Westlake stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $144.50, for a total transaction of $560,371.00. Following the completion of the transaction, the executive vice president now directly owns 21,144 shares of the company’s stock, valued at approximately $3,055,308. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Westlake news, EVP Robert F. Buesinger sold 3,878 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $144.50, for a total transaction of $560,371.00. Following the completion of the transaction, the executive vice president now owns 21,144 shares of the company’s stock, valued at $3,055,308. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Steven Bender sold 4,854 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $137.57, for a total value of $667,764.78. Following the completion of the sale, the chief financial officer now directly owns 50,110 shares in the company, valued at $6,893,632.70. The disclosure for this sale can be found here. Insiders have sold 13,658 shares of company stock valued at $1,923,225 in the last three months. 74.10% of the stock is currently owned by company insiders.

Westlake Price Performance

Shares of WLK stock opened at $152.35 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.79 and a current ratio of 2.37. Westlake Co. has a fifty-two week low of $103.28 and a fifty-two week high of $152.49. The firm has a market cap of $19.53 billion, a P/E ratio of 41.18, a P/E/G ratio of 1.60 and a beta of 1.30. The business’s 50 day moving average price is $141.58 and its 200-day moving average price is $132.77.

Westlake (NYSE:WLK) last issued its quarterly earnings data on Tuesday, February 20th. The specialty chemicals company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.09). Westlake had a net margin of 3.82% and a return on equity of 9.70%. The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.85 billion. During the same period in the previous year, the firm posted $1.79 earnings per share. The firm’s revenue for the quarter was down 14.3% compared to the same quarter last year. On average, equities research analysts anticipate that Westlake Co. will post 6.84 earnings per share for the current year.

Westlake Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Wednesday, February 28th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Tuesday, February 27th. Westlake’s dividend payout ratio (DPR) is presently 54.05%.

Analyst Ratings Changes

Several brokerages recently issued reports on WLK. Tudor, Pickering, Holt & Co. upgraded shares of Westlake from a “sell” rating to a “hold” rating in a research report on Tuesday, January 2nd. Royal Bank of Canada reduced their price target on shares of Westlake from $139.00 to $134.00 and set a “sector perform” rating on the stock in a research report on Monday, February 26th. Finally, UBS Group boosted their price objective on shares of Westlake from $139.00 to $145.00 and gave the stock a “neutral” rating in a report on Thursday, January 11th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $131.31.

Westlake Profile

Westlake Corporation engages in the manufacture and marketing of performance and essential materials, and housing and infrastructure products in the United States, Canada, Germany, China, Mexico, Brazil, France, Italy, Taiwan, and internationally. The company operates through two segments: Performance and Essential Materials and Housing and Infrastructure Products.