Insider Buying: Westlake Chemical Partners LP (NYSE:WLKP) SVP Buys 10,000 Shares of Stock

Westlake Chemical Partners LP (NYSE:WLKP) SVP Andrew Kenner acquired 10,000 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was acquired at an average cost of $22.10 per share, with a total value of $221,000.00. Following the completion of the purchase, the senior vice president now directly owns 160,839 shares in the company, valued at $3,554,541.90. The purchase was disclosed in a filing with the SEC, which is available at this link.

Andrew Kenner also recently made the following trade(s):

• On Thursday, March 28th, Andrew Kenner acquired 5,000 shares of Westlake Chemical Partners stock. The shares were acquired at an average price of $22.23 per share, with a total value of $111,150.00.
• On Thursday, March 21st, Andrew Kenner acquired 4,230 shares of Westlake Chemical Partners stock. The shares were bought at an average price of $22.16 per share, with a total value of $93,736.80.
• On Wednesday, March 6th, Andrew Kenner bought 5,000 shares of Westlake Chemical Partners stock. The shares were bought at an average cost of $22.30 per share, for a total transaction of $111,500.00.
• On Thursday, February 22nd, Andrew Kenner purchased 10,000 shares of Westlake Chemical Partners stock. The stock was purchased at an average price of $22.12 per share, with a total value of $221,200.00.

Westlake Chemical Partners Stock Up 2.6 %

Westlake Chemical Partners stock traded up $0.57 during midday trading on Friday, hitting $22.20. 521,537 shares of the company’s stock were exchanged, compared to its average volume of 61,260. Westlake Chemical Partners LP has a 12 month low of $20.86 and a 12 month high of $23.68. The company has a debt-to-equity ratio of 0.47, a quick ratio of 5.09 and a current ratio of 5.21. The company has a market cap of $782.06 million, a PE ratio of 14.35 and a beta of 1.08. The firm has a 50-day moving average of $22.19 and a two-hundred day moving average of $22.16.

Westlake Chemical Partners (NYSE:WLKP) last issued its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.01). The business had revenue of $284.67 million for the quarter, compared to analysts’ expectations of $280.76 million. Westlake Chemical Partners had a net margin of 4.64% and a return on equity of 6.32%. During the same period in the previous year, the business earned $0.42 earnings per share. As a group, analysts expect that Westlake Chemical Partners LP will post 1.7 earnings per share for the current fiscal year.

Westlake Chemical Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Monday, May 13th will be given a $0.4714 dividend. This represents a $1.89 annualized dividend and a dividend yield of 8.49%. The ex-dividend date is Friday, May 10th. Westlake Chemical Partners’s payout ratio is 122.08%.

Analyst Ratings Changes

Separately, StockNews.com raised Westlake Chemical Partners from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 26th.

Institutional Investors Weigh In On Westlake Chemical Partners

A number of institutional investors have recently added to or reduced their stakes in WLKP. GSA Capital Partners LLP boosted its holdings in shares of Westlake Chemical Partners by 10.7% in the 1st quarter. GSA Capital Partners LLP now owns 38,427 shares of the basic materials company’s stock valued at $853,000 after buying an additional 3,713 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Westlake Chemical Partners in the first quarter valued at approximately $78,000. Tower Research Capital LLC TRC purchased a new position in Westlake Chemical Partners in the fourth quarter worth $27,000. Hilltop Holdings Inc. increased its position in shares of Westlake Chemical Partners by 3.4% during the fourth quarter. Hilltop Holdings Inc. now owns 27,229 shares of the basic materials company’s stock worth $590,000 after purchasing an additional 897 shares in the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc lifted its holdings in shares of Westlake Chemical Partners by 25.0% during the 4th quarter. Texas Capital Bank Wealth Management Services Inc now owns 25,000 shares of the basic materials company’s stock valued at $541,000 after purchasing an additional 5,000 shares during the last quarter. Institutional investors own 78.28% of the company’s stock.

About Westlake Chemical Partners

Westlake Chemical Partners LP acquires, develops, and operates ethylene production facilities and related assets in the United States. The company's ethylene production facilities primarily convert ethane into ethylene. It also sells ethylene co-products, such as propylene, crude butadiene, pyrolysis gasoline, and hydrogen directly to third parties on either a spot or contract basis.