Westlake Chemical Co. (NYSE:WLK) EVP Lawrence E. Teel sold 9,351 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $111.86, for a total transaction of $1,046,002.86. Following the transaction, the executive vice president now directly owns 4,120 shares in the company, valued at approximately $460,863.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Westlake Chemical Co. (NYSE:WLK) opened at $108.26 on Thursday. Westlake Chemical Co. has a 12-month low of $59.58 and a 12-month high of $115.19. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.30 and a current ratio of 1.76. The firm has a market cap of $14,519.61, a PE ratio of 10.84, a PEG ratio of 1.14 and a beta of 1.62.
Westlake Chemical (NYSE:WLK) last announced its earnings results on Tuesday, February 20th. The specialty chemicals company reported $1.62 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.07). Westlake Chemical had a return on equity of 16.48% and a net margin of 16.22%. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the previous year, the business earned $0.87 earnings per share. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. sell-side analysts expect that Westlake Chemical Co. will post 8.05 earnings per share for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Sterling Capital Management LLC boosted its holdings in shares of Westlake Chemical by 114.6% in the fourth quarter. Sterling Capital Management LLC now owns 43,770 shares of the specialty chemicals company’s stock worth $4,663,000 after buying an additional 23,370 shares during the period. Gotham Asset Management LLC boosted its holdings in shares of Westlake Chemical by 8.8% in the fourth quarter. Gotham Asset Management LLC now owns 255,842 shares of the specialty chemicals company’s stock worth $27,255,000 after buying an additional 20,593 shares during the period. BB&T Securities LLC acquired a new position in shares of Westlake Chemical in the fourth quarter worth about $200,000. Macquarie Group Ltd. acquired a new position in shares of Westlake Chemical in the fourth quarter worth about $8,640,000. Finally, Clark Capital Management Group Inc. boosted its holdings in shares of Westlake Chemical by 1,089.8% in the fourth quarter. Clark Capital Management Group Inc. now owns 128,607 shares of the specialty chemicals company’s stock worth $13,701,000 after buying an additional 117,798 shares during the period. Institutional investors own 32.76% of the company’s stock.
Several equities analysts have commented on the stock. SunTrust Banks reissued a “buy” rating and set a $121.00 target price on shares of Westlake Chemical in a research note on Friday, February 23rd. Deutsche Bank raised their target price on shares of Westlake Chemical from $115.00 to $124.00 and gave the company a “hold” rating in a research note on Thursday, February 22nd. Zacks Investment Research raised shares of Westlake Chemical from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a research note on Wednesday, February 21st. UBS Group restated a “sell” rating and set a $87.00 price objective (up previously from $80.00) on shares of Westlake Chemical in a research report on Wednesday, February 21st. Finally, Citigroup restated a “buy” rating and set a $133.00 price objective on shares of Westlake Chemical in a research report on Wednesday, February 21st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $111.43.
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About Westlake Chemical
Westlake Chemical Corporation is a global manufacturer and marketer of basic chemicals, vinyls, polymers and building products. The Company’s products include a range of chemicals, which are fundamental to various consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, water treatment, refrigerants, residential and commercial construction, as well as other durable and non-durable goods.
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