Westlake Co. (NYSE:WLK) Shares Sold by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt trimmed its position in shares of Westlake Co. (NYSE:WLK) by 51.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,650 shares of the specialty chemicals company’s stock after selling 15,350 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Westlake were worth $2,050,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in WLK. Raymond James & Associates lifted 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 worth $2,049,000 after purchasing an additional 503 shares in the last quarter. Bank of New York Mellon Corp increased its position 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 acquiring an additional 10,077 shares during the period. American Century Companies Inc. increased its position in shares of Westlake by 23.7% during the first quarter. American Century Companies Inc. now owns 8,102 shares of the specialty chemicals company’s stock worth $1,000,000 after acquiring an additional 1,553 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Westlake by 236.9% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 9,313 shares of the specialty chemicals company’s stock worth $1,149,000 after acquiring an additional 6,549 shares during the period. Finally, MetLife Investment Management LLC purchased a new stake in shares of Westlake during the first quarter worth $118,000. 28.40% of the stock is currently owned by institutional investors and hedge funds.

Westlake Price Performance

Shares of WLK opened at $149.69 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. The company has a market capitalization of $19.19 billion, a price-to-earnings ratio of 40.15, a price-to-earnings-growth ratio of 1.45 and a beta of 1.30. Westlake Co. has a fifty-two week low of $103.28 and a fifty-two week high of $162.64. The firm has a 50-day simple moving average of $146.32 and a 200-day simple moving average of $136.00.

Westlake (NYSE:WLK) last announced its quarterly earnings data on Tuesday, February 20th. The specialty chemicals company reported $0.72 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 firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same quarter in the previous year, the business earned $1.79 EPS. Westlake’s revenue for the quarter was down 14.3% on a year-over-year basis. On average, equities research analysts anticipate that Westlake Co. will post 6.93 earnings per share for the current year.

Westlake Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Wednesday, February 28th were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $2.00 dividend on an annualized basis and a yield of 1.34%. Westlake’s dividend payout ratio (DPR) is presently 54.05%.

Insider Transactions at Westlake

In other news, CFO Mark Steven Bender sold 4,804 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $141.02, for a total transaction of $677,460.08. Following the completion of the transaction, the chief financial officer now directly owns 45,306 shares of the company’s stock, valued at approximately $6,389,052.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Westlake news, EVP Robert F. Buesinger sold 3,878 shares of Westlake stock in a transaction on Friday, March 15th. The shares were sold at an average price of $144.50, for a total value of $560,371.00. Following the transaction, the executive vice president now owns 21,144 shares in the company, valued at approximately $3,055,308. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Mark Steven Bender sold 4,804 shares of Westlake stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $141.02, for a total transaction of $677,460.08. Following the completion of the transaction, the chief financial officer now owns 45,306 shares in the company, valued at approximately $6,389,052.12. The disclosure for this sale can be found here. Insiders sold a total of 13,658 shares of company stock valued at $1,923,225 in the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Tudor, Pickering, Holt & Co. raised Westlake from a “sell” rating to a “hold” rating in a report on Tuesday, January 2nd. UBS Group increased their target price on Westlake from $139.00 to $145.00 and gave the company a “neutral” rating in a report on Thursday, January 11th. Barclays increased their target price on Westlake from $142.00 to $160.00 and gave the company an “equal weight” rating in a report on Thursday, April 4th. Wells Fargo & Company increased their target price on Westlake from $150.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday, April 3rd. Finally, Vertical Research lowered Westlake from a “buy” rating to a “hold” rating and set a $154.00 target price on the stock. in a report on Monday, April 8th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $141.21.

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.