Twinbeech Capital LP Purchases Shares of 2,292 Westlake Co. (NYSE:WLK)

Twinbeech Capital LP purchased a new stake in Westlake Co. (NYSE:WLKFree Report) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 2,292 shares of the specialty chemicals company’s stock, valued at approximately $263,000.

A number of other institutional investors have also recently made changes to their positions in WLK. Blue Trust Inc. grew its position in shares of Westlake by 247.7% in the 4th quarter. Blue Trust Inc. now owns 226 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 161 shares during the last quarter. Allworth Financial LP grew its position in shares of Westlake by 6,316.7% in the 4th quarter. Allworth Financial LP now owns 385 shares of the specialty chemicals company’s stock valued at $45,000 after buying an additional 379 shares during the last quarter. Transamerica Financial Advisors Inc. grew its position in shares of Westlake by 1,668.2% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 389 shares of the specialty chemicals company’s stock valued at $45,000 after buying an additional 367 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Westlake in the 4th quarter valued at about $71,000. Finally, Venturi Wealth Management LLC grew its position in shares of Westlake by 163.9% in the 4th quarter. Venturi Wealth Management LLC now owns 789 shares of the specialty chemicals company’s stock valued at $90,000 after buying an additional 490 shares during the last quarter. Institutional investors own 28.40% of the company’s stock.

Westlake Stock Down 1.0%

WLK stock opened at $71.64 on Friday. The stock’s 50 day simple moving average is $89.42 and its 200 day simple moving average is $107.68. Westlake Co. has a fifty-two week low of $70.28 and a fifty-two week high of $161.31. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.04 and a current ratio of 2.79. The company has a market cap of $9.19 billion, a P/E ratio of 100.90, a price-to-earnings-growth ratio of 2.36 and a beta of 1.03.

Westlake (NYSE:WLKGet Free Report) last posted its quarterly earnings results on Friday, May 2nd. The specialty chemicals company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($1.01). Westlake had a return on equity of 6.93% and a net margin of 0.81%. The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same period last year, the company posted $1.34 earnings per share. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. On average, research analysts expect that Westlake Co. will post 6.48 earnings per share for the current fiscal year.

Westlake Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Tuesday, May 20th will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend is Tuesday, May 20th. Westlake’s dividend payout ratio (DPR) is currently 70.47%.

Analysts Set New Price Targets

A number of research firms have commented on WLK. Royal Bank of Canada reduced their price target on Westlake from $122.00 to $96.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. The Goldman Sachs Group cut their target price on Westlake from $130.00 to $95.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 6th. Bank of America upgraded Westlake from a “neutral” rating to a “buy” rating and cut their target price for the company from $116.00 to $75.00 in a research report on Tuesday, April 15th. BMO Capital Markets set a $94.00 target price on Westlake and gave the company a “market perform” rating in a research report on Tuesday. Finally, Truist Financial cut their target price on Westlake from $132.00 to $117.00 and set a “buy” rating on the stock in a research report on Monday, May 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $103.54.

Get Our Latest Stock Report on Westlake

Westlake Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Westlake (NYSE:WLK)

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