Westlake Co. (NYSE:WLK) Holdings Lessened by Robotti Robert

Robotti Robert reduced its position in Westlake Co. (NYSE:WLK) by 26.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 167,668 shares of the specialty chemicals company’s stock after selling 58,899 shares during the period. Westlake accounts for about 3.5% of Robotti Robert’s holdings, making the stock its 5th biggest holding. Robotti Robert owned 0.13% of Westlake worth $25,620,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. CVA Family Office LLC purchased a new position in shares of Westlake during the fourth quarter worth about $25,000. Venturi Wealth Management LLC grew its stake in shares of Westlake by 51.3% in the 4th quarter. Venturi Wealth Management LLC now owns 236 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 80 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of Westlake in the fourth quarter valued at approximately $37,000. UniSuper Management Pty Ltd raised its stake in shares of Westlake by 66.7% during the first quarter. UniSuper Management Pty Ltd now owns 500 shares of the specialty chemicals company’s stock worth $76,000 after purchasing an additional 200 shares during the last quarter. Finally, Astoria Portfolio Advisors LLC. acquired a new stake in shares of Westlake during the fourth quarter worth $202,000. 28.40% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Westlake

In related news, CFO Mark Steven Bender sold 4,950 shares of Westlake stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $152.19, for a total value of $753,340.50. Following the transaction, the chief financial officer now owns 40,356 shares in the company, valued at $6,141,779.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 74.10% of the company’s stock.

Westlake Trading Up 0.6 %

Westlake stock traded up $0.81 during trading on Monday, hitting $143.84. The company’s stock had a trading volume of 297,794 shares, compared to its average volume of 427,922. The stock’s fifty day moving average is $149.60 and its 200 day moving average is $147.48. Westlake Co. has a 1-year low of $112.77 and a 1-year high of $162.64. The stock has a market capitalization of $18.49 billion, a price-to-earnings ratio of 72.28, a P/E/G ratio of 1.89 and a beta of 1.20. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.83 and a current ratio of 2.46.

Westlake (NYSE:WLK) last posted its quarterly earnings data on Wednesday, May 1st. The specialty chemicals company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.25. Westlake had a net margin of 2.13% and a return on equity of 7.69%. The company had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter in the prior year, the company posted $3.05 EPS. The company’s quarterly revenue was down 11.4% compared to the same quarter last year. As a group, equities research analysts predict that Westlake Co. will post 6.52 EPS for the current year.

Westlake Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Tuesday, May 21st were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $2.00 annualized dividend and a dividend yield of 1.39%. Westlake’s dividend payout ratio is presently 100.50%.

Analyst Ratings Changes

Several brokerages have issued reports on WLK. UBS Group dropped their price objective on shares of Westlake from $172.00 to $160.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Wells Fargo & Company raised their price objective on shares of Westlake from $150.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday, April 3rd. Barclays boosted their target price on Westlake from $160.00 to $162.00 and gave the stock an “equal weight” rating in a research report on Monday, June 17th. Piper Sandler raised their price target on Westlake from $160.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, May 7th. Finally, Vertical Research lowered Westlake from a “buy” rating to a “hold” rating and set a $154.00 price objective on the stock. in a report on Monday, April 8th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $156.75.

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.