SG Americas Securities LLC Buys 2,301 Shares of Westlake Co. (NYSE:WLK)

SG Americas Securities LLC grew its stake in Westlake Co. (NYSE:WLKGet Rating) by 71.8% in the 3rd quarter, Holdings Channel reports. The firm owned 5,505 shares of the specialty chemicals company’s stock after purchasing an additional 2,301 shares during the period. SG Americas Securities LLC’s holdings in Westlake were worth $478,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in WLK. Raymond James & Associates raised its holdings in Westlake by 3.1% in the 1st quarter. Raymond James & Associates now owns 16,608 shares of the specialty chemicals company’s stock worth $2,049,000 after purchasing an additional 503 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Westlake by 4.3% in the 1st quarter. Bank of New York Mellon Corp now owns 243,246 shares of the specialty chemicals company’s stock worth $30,017,000 after acquiring an additional 10,077 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Westlake by 23.7% in the 1st quarter. American Century Companies Inc. now owns 8,102 shares of the specialty chemicals company’s stock worth $1,000,000 after acquiring an additional 1,553 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Westlake by 236.9% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 9,313 shares of the specialty chemicals company’s stock worth $1,149,000 after acquiring an additional 6,549 shares in the last quarter. Finally, MetLife Investment Management LLC bought a new position in shares of Westlake in the 1st quarter worth about $118,000. 26.79% of the stock is currently owned by institutional investors.

Westlake Stock Performance

Shares of NYSE WLK opened at $114.12 on Wednesday. The firm’s 50-day moving average price is $107.04 and its 200-day moving average price is $99.80. The company has a quick ratio of 1.66, a current ratio of 2.48 and a debt-to-equity ratio of 0.47. The company has a market cap of $14.55 billion, a PE ratio of 5.56 and a beta of 1.20. Westlake Co. has a 52-week low of $81.29 and a 52-week high of $141.19.

Westlake (NYSE:WLKGet Rating) last announced its quarterly earnings results on Thursday, November 3rd. The specialty chemicals company reported $3.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.47 by ($1.37). The company had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $4.16 billion. Westlake had a net margin of 16.62% and a return on equity of 28.03%. As a group, analysts anticipate that Westlake Co. will post 18.61 EPS for the current year.

Westlake Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 9th. Stockholders of record on Friday, November 25th were paid a $0.357 dividend. This represents a $1.43 annualized dividend and a dividend yield of 1.25%. The ex-dividend date was Wednesday, November 23rd. Westlake’s dividend payout ratio (DPR) is presently 6.97%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Citigroup increased their price target on shares of Westlake from $80.00 to $94.00 in a research note on Thursday, December 15th. Morgan Stanley decreased their price target on shares of Westlake from $115.00 to $110.00 and set an “equal weight” rating for the company in a research note on Monday, November 7th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Westlake from $95.00 to $105.00 and gave the stock a “hold” rating in a research note on Monday, November 7th. Barclays increased their price target on shares of Westlake from $105.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Monday, November 14th. Finally, UBS Group increased their price objective on shares of Westlake from $95.00 to $115.00 and gave the company a “neutral” rating in a research report on Wednesday, January 11th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $113.64.

Westlake Company Profile

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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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