Westlake Co. (NYSE:WLK) Receives Average Recommendation of “Hold” from Brokerages

Shares of Westlake Co. (NYSE:WLK) have been assigned an average recommendation of “Hold” from the fifteen brokerages that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $145.79.

WLK has been the topic of several analyst reports. Tudor, Pickering, Holt & Co. upgraded Westlake from a “sell” rating to a “hold” rating in a report on Tuesday, January 2nd. Deutsche Bank Aktiengesellschaft upgraded Westlake from a “hold” rating to a “buy” rating and lifted their price target for the stock from $138.00 to $174.00 in a report on Thursday, April 18th. Vertical Research lowered Westlake from a “buy” rating to a “hold” rating and set a $154.00 price target on the stock. in a report on Monday, April 8th. Bank of America upgraded Westlake from a “hold” rating to a “buy” rating and lifted their price target for the stock from $138.00 to $174.00 in a report on Thursday, April 18th. Finally, Barclays boosted their price objective on shares of Westlake from $142.00 to $160.00 and gave the company an “equal weight” rating in a report on Thursday, April 4th.

Insiders Place Their Bets

In other news, CFO Mark Steven Bender sold 4,804 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $141.02, for a total value of $677,460.08. Following the transaction, the chief financial officer now directly owns 45,306 shares in the company, valued at approximately $6,389,052.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Robert F. Buesinger sold 3,878 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $144.50, for a total transaction of $560,371.00. Following the sale, the executive vice president now directly owns 21,144 shares in the company, valued at approximately $3,055,308. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Mark Steven Bender sold 4,804 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $141.02, for a total value of $677,460.08. Following the sale, the chief financial officer now owns 45,306 shares in the company, valued at $6,389,052.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,658 shares of company stock valued at $1,923,225. Insiders own 74.10% of the company’s stock.

Institutional Investors Weigh In On Westlake

Hedge funds have recently modified their holdings of the stock. CVA Family Office LLC purchased a new stake in shares of Westlake during the 4th quarter valued at about $25,000. Venturi Wealth Management LLC raised its holdings in shares of Westlake by 51.3% during the 4th quarter. Venturi Wealth Management LLC now owns 236 shares of the specialty chemicals company’s stock valued at $33,000 after buying an additional 80 shares during the period. GAMMA Investing LLC purchased a new stake in shares of Westlake during the 4th quarter valued at about $37,000. Fifth Third Bancorp grew its stake in Westlake by 55.9% during the 3rd quarter. Fifth Third Bancorp now owns 354 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 127 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in Westlake by 19.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 599 shares of the specialty chemicals company’s stock worth $75,000 after purchasing an additional 97 shares during the last quarter. 28.40% of the stock is currently owned by hedge funds and other institutional investors.

Westlake Stock Performance

WLK opened at $149.55 on Friday. Westlake has a 12-month low of $103.28 and a 12-month high of $162.64. The company has a current ratio of 2.37, a quick ratio of 1.79 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $19.17 billion, a PE ratio of 40.42, a P/E/G ratio of 1.45 and a beta of 1.30. The firm has a 50 day moving average of $147.18 and a two-hundred day moving average of $137.00.

Westlake (NYSE:WLK) last released its quarterly earnings results on Tuesday, February 20th. The specialty chemicals company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.09). Westlake had a net margin of 3.82% and a return on equity of 9.70%. The company had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same period in the prior year, the business posted $1.79 EPS. Westlake’s revenue was down 14.3% compared to the same quarter last year. On average, analysts anticipate that Westlake will post 6.93 EPS for the current year.

Westlake Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Wednesday, February 28th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend was Tuesday, February 27th. Westlake’s payout ratio is 54.05%.

About Westlake

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.