Raymond James & Associates Has $434,000 Stock Holdings in Westlake Chemical Partners LP (NYSE:WLKP)

Raymond James & Associates grew its holdings in Westlake Chemical Partners LP (NYSE:WLKP) by 43.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,043 shares of the basic materials company’s stock after purchasing an additional 6,043 shares during the quarter. Raymond James & Associates owned about 0.06% of Westlake Chemical Partners worth $434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. UBS Group AG grew its holdings in Westlake Chemical Partners by 9.3% during the third quarter. UBS Group AG now owns 537,225 shares of the basic materials company’s stock valued at $11,685,000 after purchasing an additional 45,515 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Westlake Chemical Partners by 4.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 595,137 shares of the basic materials company’s stock valued at $12,944,000 after purchasing an additional 25,123 shares during the period. Samalin Investment Counsel LLC bought a new position in Westlake Chemical Partners during the third quarter valued at $218,000. Finally, Eagle Global Advisors LLC grew its holdings in Westlake Chemical Partners by 3.5% during the third quarter. Eagle Global Advisors LLC now owns 43,873 shares of the basic materials company’s stock valued at $954,000 after purchasing an additional 1,500 shares during the period. 78.28% of the stock is owned by institutional investors and hedge funds.

Westlake Chemical Partners Price Performance

Westlake Chemical Partners stock opened at $21.92 on Friday. Westlake Chemical Partners LP has a one year low of $20.86 and a one year high of $23.68. The business has a fifty day moving average price of $22.21 and a 200-day moving average price of $22.13. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.02 and a quick ratio of 3.94. The firm has a market capitalization of $772.24 million, a P/E ratio of 14.23 and a beta of 1.08.

Westlake Chemical Partners (NYSE:WLKP) last announced its quarterly earnings data on Tuesday, February 20th. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). Westlake Chemical Partners had a net margin of 4.56% and a return on equity of 6.25%. The company had revenue of $297.27 million for the quarter, compared to the consensus estimate of $316.62 million. During the same period last year, the business posted $0.48 earnings per share. As a group, equities research analysts forecast that Westlake Chemical Partners LP will post 1.7 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Westlake Chemical Partners from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 26th.

Insider Activity

In related news, SVP Andrew Kenner acquired 5,000 shares of Westlake Chemical Partners stock in a transaction dated Wednesday, March 6th. The shares were purchased at an average cost of $22.30 per share, with a total value of $111,500.00. Following the completion of the purchase, the senior vice president now owns 141,609 shares of the company’s stock, valued at $3,157,880.70. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last three months, insiders have purchased 24,230 shares of company stock valued at $537,587. 1.10% of the stock is currently owned by insiders.

Westlake Chemical Partners Company Profile

Westlake Chemical Partners LP acquires, develops, and operates ethylene production facilities and related assets in the United States. The company's ethylene production facilities primarily convert ethane into ethylene. It also sells ethylene co-products, such as propylene, crude butadiene, pyrolysis gasoline, and hydrogen directly to third parties on either a spot or contract basis.