Guardian Wealth Advisors LLC NC Purchases Shares of 1,941 Westlake Co. (NYSE:WLK)

Guardian Wealth Advisors LLC NC purchased a new stake in shares of Westlake Co. (NYSE:WLKGet Rating) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,941 shares of the specialty chemicals company’s stock, valued at approximately $240,000.

Other hedge funds have also bought and sold shares of the company. Soroban Capital Partners LP acquired a new stake in shares of Westlake in the fourth quarter worth $115,498,000. Federated Hermes Inc. increased its stake in shares of Westlake by 82.9% in the first quarter. Federated Hermes Inc. now owns 1,297,300 shares of the specialty chemicals company’s stock worth $160,087,000 after acquiring an additional 588,163 shares during the period. First Trust Advisors LP increased its stake in shares of Westlake by 189.0% in the first quarter. First Trust Advisors LP now owns 802,507 shares of the specialty chemicals company’s stock worth $99,029,000 after acquiring an additional 524,828 shares during the period. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Westlake in the fourth quarter worth $19,426,000. Finally, Pacer Advisors Inc. increased its stake in shares of Westlake by 190.8% in the first quarter. Pacer Advisors Inc. now owns 300,278 shares of the specialty chemicals company’s stock worth $37,054,000 after acquiring an additional 197,013 shares during the period. Institutional investors and hedge funds own 27.72% of the company’s stock.

Insider Transactions at Westlake

In other news, CAO Johnathan Stevan Zoeller sold 542 shares of the firm’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $107.08, for a total value of $58,037.36. Following the transaction, the chief accounting officer now directly owns 543 shares of the company’s stock, valued at $58,144.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 73.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WLK. Barclays lowered their price target on shares of Westlake from $120.00 to $112.00 and set an “equal weight” rating on the stock in a report on Monday, August 8th. KeyCorp downgraded shares of Westlake from a “sector weight” rating to an “underweight” rating and set a $90.00 price target on the stock. in a report on Monday, August 29th. UBS Group lowered their price target on shares of Westlake from $117.00 to $92.00 and set a “sell” rating on the stock in a report on Wednesday, July 13th. Piper Sandler downgraded shares of Westlake from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $147.00 to $115.00 in a report on Monday, July 25th. Finally, Citigroup lowered their price target on shares of Westlake from $114.00 to $106.00 in a report on Monday, August 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Westlake has an average rating of “Hold” and an average price target of $126.21.

Westlake Stock Performance

NYSE:WLK opened at $101.44 on Tuesday. The company’s 50-day moving average price is $98.09 and its 200-day moving average price is $112.84. The company has a current ratio of 2.39, a quick ratio of 1.59 and a debt-to-equity ratio of 0.49. The company has a market cap of $13.02 billion, a P/E ratio of 4.59, a P/E/G ratio of 2.41 and a beta of 1.21. Westlake Co. has a twelve month low of $80.47 and a twelve month high of $141.19.

Westlake Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Monday, August 22nd were paid a $0.357 dividend. This is an increase from Westlake’s previous quarterly dividend of $0.30. This represents a $1.43 annualized dividend and a dividend yield of 1.41%. The ex-dividend date was Friday, August 19th. Westlake’s dividend payout ratio (DPR) is currently 6.47%.

About Westlake

(Get Rating)

Westlake Corporation manufactures and supplies petrochemicals, polymers, and building products worldwide. It operates through two segments, Performance and Essential Materials; and Housing and Infrastructure Products. The Performance and Essential Materials segment manufactures and markets polyethylene, styrene monomer, ethylene co-products, PVC, VCM, ethylene dichloride chlor-alkali, and chlorinated derivative products.

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Institutional Ownership by Quarter for Westlake (NYSE:WLK)

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