2,201 Shares in Westlake Co. (NYSE:WLK) Purchased by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. acquired a new stake in shares of Westlake Co. (NYSE:WLKFree Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,201 shares of the specialty chemicals company’s stock, valued at approximately $308,000.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Westlake in the 4th quarter valued at about $50,961,000. Invesco Ltd. grew its position in shares of Westlake by 56.1% in the 3rd quarter. Invesco Ltd. now owns 304,429 shares of the specialty chemicals company’s stock worth $37,953,000 after acquiring an additional 109,433 shares in the last quarter. FMR LLC increased its holdings in shares of Westlake by 2.1% in the 3rd quarter. FMR LLC now owns 4,630,975 shares of the specialty chemicals company’s stock valued at $577,344,000 after acquiring an additional 96,152 shares during the last quarter. KBC Group NV raised its position in shares of Westlake by 460.4% during the 4th quarter. KBC Group NV now owns 85,008 shares of the specialty chemicals company’s stock valued at $11,898,000 after acquiring an additional 69,838 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its stake in Westlake by 6.2% during the fourth quarter. Pacer Advisors Inc. now owns 1,142,590 shares of the specialty chemicals company’s stock worth $159,917,000 after purchasing an additional 66,614 shares during the last quarter. 28.40% of the stock is currently owned by institutional investors.

Westlake Stock Performance

WLK opened at $150.29 on Tuesday. The business has a 50 day moving average price of $154.76 and a two-hundred day moving average price of $144.79. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.46 and a quick ratio of 1.83. The company has a market capitalization of $19.32 billion, a price-to-earnings ratio of 75.52, a price-to-earnings-growth ratio of 1.93 and a beta of 1.26. Westlake Co. has a 1-year low of $107.34 and a 1-year high of $162.64.

Westlake (NYSE:WLKGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The specialty chemicals company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.25. The business had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.93 billion. Westlake had a return on equity of 7.69% and a net margin of 2.13%. The company’s revenue was down 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.05 earnings per share. Research analysts predict that Westlake Co. will post 6.59 EPS for the current fiscal year.

Westlake Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Tuesday, May 21st were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, May 20th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.33%. Westlake’s payout ratio is currently 100.50%.

Insider Activity at Westlake

In other Westlake news, CFO Mark Steven Bender sold 4,950 shares of the company’s 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 of the company’s stock, valued at $6,141,779.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Mark Steven Bender sold 4,950 shares of the 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 completion of the transaction, the chief financial officer now owns 40,356 shares in the company, valued at approximately $6,141,779.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert F. Buesinger sold 3,878 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $144.50, for a total value of $560,371.00. Following the sale, the executive vice president now owns 21,144 shares in the company, valued at approximately $3,055,308. The disclosure for this sale can be found here. Insiders sold a total of 8,950 shares of company stock valued at $1,331,341 over the last ninety days. Insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Westlake from a “hold” rating to a “buy” rating and raised their price target for the stock from $138.00 to $174.00 in a research report on Thursday, April 18th. StockNews.com raised Westlake from a “sell” rating to a “hold” rating in a report on Tuesday, June 4th. Wells Fargo & Company raised their price target on Westlake from $150.00 to $180.00 and gave the stock an “overweight” rating in a report on Wednesday, April 3rd. Royal Bank of Canada upped their price objective on Westlake from $134.00 to $153.00 and gave the stock a “sector perform” rating in a research note on Friday, April 19th. Finally, Bank of America upgraded Westlake from a “hold” rating to a “buy” rating and raised their target price for the company from $138.00 to $174.00 in a research note on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Westlake currently has a consensus rating of “Hold” and an average price target of $151.00.

View Our Latest Stock Report on Westlake

Westlake Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Westlake (NYSE:WLK)

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