100,127 Shares in Westlake Co. (NYSE:WLK) Purchased by SG Americas Securities LLC

SG Americas Securities LLC acquired a new stake in shares of Westlake Co. (NYSE:WLK) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 100,127 shares of the specialty chemicals company’s stock, valued at approximately $11,480,000. SG Americas Securities LLC owned 0.08% of Westlake at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Thrivent Financial for Lutherans increased its stake in shares of Westlake by 1.1% during the third quarter. Thrivent Financial for Lutherans now owns 7,855 shares of the specialty chemicals company’s stock valued at $1,181,000 after buying an additional 89 shares during the period. Continuum Advisory LLC increased its position in Westlake by 43.2% during the 3rd quarter. Continuum Advisory LLC now owns 318 shares of the specialty chemicals company’s stock valued at $48,000 after purchasing an additional 96 shares during the period. Oppenheimer & Co. Inc. raised its holdings in shares of Westlake by 3.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 2,624 shares of the specialty chemicals company’s stock valued at $394,000 after purchasing an additional 97 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Westlake by 4.1% in the 3rd quarter. CIBC Asset Management Inc now owns 3,911 shares of the specialty chemicals company’s stock worth $588,000 after purchasing an additional 153 shares during the period. Finally, Wahed Invest LLC boosted its stake in shares of Westlake by 26.5% during the third quarter. Wahed Invest LLC now owns 812 shares of the specialty chemicals company’s stock valued at $122,000 after purchasing an additional 170 shares in the last quarter. 28.40% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director David Tsung-Hung Chao sold 1,750 shares of Westlake stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $129.08, for a total value of $225,890.00. Following the sale, the director now directly owns 7,784 shares of the company’s stock, valued at $1,004,758.72. The trade was a 18.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 74.10% of the company’s stock.

Westlake Trading Up 0.5 %

Shares of NYSE:WLK opened at $118.37 on Friday. The company has a quick ratio of 2.04, a current ratio of 2.79 and a debt-to-equity ratio of 0.41. Westlake Co. has a 52-week low of $108.95 and a 52-week high of $162.64. The business has a 50-day moving average price of $119.76 and a 200-day moving average price of $134.15. The stock has a market cap of $15.24 billion, a price-to-earnings ratio of 166.72, a PEG ratio of 2.56 and a beta of 1.18.

Westlake (NYSE:WLK) last posted its earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.21 by ($0.80). The firm had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.31 billion. Westlake had a net margin of 0.81% and a return on equity of 6.93%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.20 earnings per share. Equities analysts predict that Westlake Co. will post 6.57 EPS for the current year.

Westlake Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 26th were given a $0.525 dividend. The ex-dividend date of this dividend was Tuesday, November 26th. This represents a $2.10 annualized dividend and a dividend yield of 1.77%. Westlake’s dividend payout ratio (DPR) is 295.77%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WLK. Barclays raised Westlake from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $162.00 to $180.00 in a research report on Monday, September 30th. StockNews.com upgraded shares of Westlake from a “sell” rating to a “hold” rating in a report on Tuesday, November 26th. Wells Fargo & Company lowered their price target on shares of Westlake from $180.00 to $160.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. UBS Group upgraded shares of Westlake from a “neutral” rating to a “buy” rating and set a $144.00 target price for the company in a research note on Friday, January 10th. Finally, Morgan Stanley cut their price target on shares of Westlake from $155.00 to $130.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $154.85.

Westlake Company 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.