Twin Capital Management Inc. Has $1.89 Million Stake in Westlake Co. (NYSE:WLK)

Twin Capital Management Inc. decreased its holdings in Westlake Co. (NYSE:WLK) by 2.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 13,504 shares of the specialty chemicals company’s stock after selling 344 shares during the period. Twin Capital Management Inc.’s holdings in Westlake were worth $1,890,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of WLK. CVA Family Office LLC bought a new position in Westlake in the 4th quarter valued at about $25,000. Worth Asset Management LLC bought a new position in Westlake in the 1st quarter valued at about $28,000. Venturi Wealth Management LLC increased its holdings in Westlake by 51.3% in the 4th quarter. Venturi Wealth Management LLC now owns 236 shares of the specialty chemicals company’s stock valued at $33,000 after buying an additional 80 shares during the period. UniSuper Management Pty Ltd bought a new position in Westlake in the 2nd quarter valued at about $36,000. Finally, Gyon Technologies Capital Management LP bought a new position in Westlake in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 28.40% of the company’s stock.

Insider Buying and Selling at Westlake

In other Westlake news, EVP Robert F. Buesinger sold 3,878 shares of the business’s stock in a transaction dated 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 $3,055,308. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Mark Steven Bender sold 4,804 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $141.02, for a total transaction of $677,460.08. Following the transaction, the chief financial officer now owns 45,306 shares in the company, valued at $6,389,052.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert F. Buesinger sold 3,878 shares of the business’s 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 transaction, the executive vice president now owns 21,144 shares in the company, valued at approximately $3,055,308. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,658 shares of company stock worth $1,923,225. 74.10% of the stock is currently owned by company insiders.

Westlake Stock Performance

Westlake stock opened at $148.95 on Friday. The company has a quick ratio of 1.79, a current ratio of 2.37 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $19.10 billion, a PE ratio of 40.26, a P/E/G ratio of 1.44 and a beta of 1.30. The firm has a fifty day simple moving average of $146.44 and a two-hundred day simple moving average of $136.09. Westlake Co. has a twelve month low of $103.28 and a twelve month high of $162.64.

Westlake (NYSE:WLK) last released 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 firm had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.85 billion. During the same quarter in the previous year, the firm posted $1.79 EPS. Westlake’s revenue was down 14.3% compared to the same quarter last year. Research analysts expect that Westlake Co. will post 6.93 EPS for the current year.

Westlake Announces Dividend

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

Analyst Ratings Changes

WLK has been the topic of several recent analyst reports. Wells Fargo & Company raised their target price on shares of Westlake from $150.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday, April 3rd. Barclays lifted their price target on shares of Westlake from $142.00 to $160.00 and gave the company an “equal weight” rating in a report on Thursday, April 4th. UBS Group lifted their price target on shares of Westlake from $139.00 to $145.00 and gave the company a “neutral” rating in a report on Thursday, January 11th. Royal Bank of Canada decreased their price target on shares of Westlake from $139.00 to $134.00 and set a “sector perform” rating on the stock in a report on Monday, February 26th. Finally, Tudor, Pickering, Holt & Co. raised shares of Westlake from a “sell” rating to a “hold” rating in a report on Tuesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Westlake has an average rating of “Hold” and an average target price of $144.43.

About Westlake

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.