Westlake Co. (NYSE:WLK) Stock Holdings Boosted by QRG Capital Management Inc.

QRG Capital Management Inc. boosted its position in Westlake Co. (NYSE:WLKFree Report) by 5.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,587 shares of the specialty chemicals company’s stock after purchasing an additional 1,371 shares during the quarter. QRG Capital Management Inc.’s holdings in Westlake were worth $3,581,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of WLK. Invesco Ltd. grew its holdings in Westlake by 56.1% in the 3rd quarter. Invesco Ltd. now owns 304,429 shares of the specialty chemicals company’s stock worth $37,953,000 after buying an additional 109,433 shares in the last quarter. FMR LLC raised its holdings in Westlake by 2.1% during the third quarter. FMR LLC now owns 4,630,975 shares of the specialty chemicals company’s stock worth $577,344,000 after purchasing an additional 96,152 shares in the last quarter. Pacer Advisors Inc. lifted its position in Westlake by 6.2% in the fourth quarter. Pacer Advisors Inc. now owns 1,142,590 shares of the specialty chemicals company’s stock worth $159,917,000 after purchasing an additional 66,614 shares during the period. Cerity Partners LLC bought a new position in Westlake during the 4th quarter valued at $8,492,000. Finally, Aviva PLC increased its position in shares of Westlake by 66.8% during the 3rd quarter. Aviva PLC now owns 119,377 shares of the specialty chemicals company’s stock valued at $14,883,000 after purchasing an additional 47,799 shares during the period. Institutional investors own 28.40% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on WLK shares. Deutsche Bank Aktiengesellschaft raised Westlake from a “hold” rating to a “buy” rating and lifted their target price for the stock from $138.00 to $174.00 in a report on Thursday, April 18th. Vertical Research downgraded Westlake from a “buy” rating to a “hold” rating and set a $154.00 price objective for the company. in a research report on Monday, April 8th. Piper Sandler raised their target price on shares of Westlake from $160.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, May 7th. Bank of America upgraded shares of Westlake from a “hold” rating to a “buy” rating and upped their price objective for the company from $138.00 to $174.00 in a research note on Thursday, April 18th. Finally, Royal Bank of Canada boosted their price target on shares of Westlake from $134.00 to $153.00 and gave the company a “sector perform” rating in a report on Friday, April 19th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $151.00.

View Our Latest Stock Analysis on Westlake

Westlake Trading Down 1.1 %

Shares of NYSE:WLK opened at $156.34 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.83 and a current ratio of 2.46. The stock’s 50-day moving average is $150.68 and its 200-day moving average is $140.03. The company has a market cap of $20.10 billion, a P/E ratio of 78.56, a P/E/G ratio of 2.01 and a beta of 1.30. Westlake Co. has a 52-week low of $103.28 and a 52-week high of $162.64.

Westlake (NYSE:WLKGet Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The specialty chemicals company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.25. Westlake had a return on equity of 7.69% and a net margin of 2.13%. The company had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same period in the prior year, the business earned $3.05 earnings per share. Westlake’s revenue for the quarter was down 11.4% compared to the same quarter last year. Equities research analysts predict that Westlake Co. will post 6.57 earnings per share for the current year.

Westlake Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Tuesday, May 21st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, May 20th. This represents a $2.00 annualized dividend and a dividend yield of 1.28%. Westlake’s payout ratio is 100.50%.

Insider Activity at Westlake

In related news, CFO Mark Steven Bender sold 4,950 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $152.19, for a total transaction of $753,340.50. Following the transaction, the chief financial officer now directly owns 40,356 shares in the company, valued at $6,141,779.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Robert F. Buesinger sold 3,878 shares of the 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 sale, the executive vice president now owns 21,144 shares in the company, valued at approximately $3,055,308. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark Steven Bender sold 4,950 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $152.19, for a total transaction of $753,340.50. Following the sale, the chief financial officer now directly owns 40,356 shares in the company, valued at $6,141,779.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,608 shares of company stock worth $2,676,565. Company insiders own 1.30% of the company’s stock.

About Westlake

(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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