Westlake (NYSE:WLK) Given “Neutral” Rating at Mizuho

Mizuho reaffirmed their neutral rating on shares of Westlake (NYSE:WLK) in a research report sent to investors on Monday, MarketBeat reports. They currently have a $88.00 price target on the specialty chemicals company’s stock.

WLK has been the topic of a number of other research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Westlake in a research note on Wednesday, January 21st. BMO Capital Markets restated a “market perform” rating and issued a $83.00 target price (down from $91.00) on shares of Westlake in a report on Tuesday, November 4th. The Goldman Sachs Group set a $78.00 price target on shares of Westlake and gave the company a “neutral” rating in a report on Friday, October 31st. Morgan Stanley set a $80.00 price target on Westlake in a research report on Monday, December 15th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $100.00 price objective on shares of Westlake in a research report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Westlake has an average rating of “Hold” and a consensus price target of $89.47.

Westlake Stock Performance

NYSE:WLK opened at $96.38 on Monday. The company has a market cap of $12.36 billion, a price-to-earnings ratio of -12.99, a PEG ratio of 48.29 and a beta of 0.90. Westlake has a 1 year low of $56.33 and a 1 year high of $118.23. The stock’s 50 day simple moving average is $79.14 and its two-hundred day simple moving average is $77.97. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.99 and a quick ratio of 1.39.

Westlake Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Tuesday, November 25th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Tuesday, November 25th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.2%. Westlake’s dividend payout ratio is currently -28.57%.

Insider Activity

In related news, Chairman Albert Chao sold 40,836 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $73.57, for a total transaction of $3,004,304.52. Following the completion of the sale, the chairman directly owned 627,722 shares of the company’s stock, valued at approximately $46,181,507.54. This trade represents a 6.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Westlake

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Huntington National Bank bought a new position in shares of Westlake in the second quarter worth about $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in Westlake in the 3rd quarter valued at about $28,000. Fifth Third Bancorp grew its stake in Westlake by 71.3% in the 4th quarter. Fifth Third Bancorp now owns 562 shares of the specialty chemicals company’s stock worth $42,000 after acquiring an additional 234 shares in the last quarter. CWM LLC grew its stake in Westlake by 54.5% in the 2nd quarter. CWM LLC now owns 567 shares of the specialty chemicals company’s stock worth $43,000 after acquiring an additional 200 shares in the last quarter. Finally, CIBC Private Wealth Group LLC purchased a new position in shares of Westlake during the third quarter worth approximately $53,000. Hedge funds and other institutional investors own 28.40% of the company’s stock.

Westlake Company Profile

Westlake Corp. is a global manufacturer of petrochemicals, polymers and building products, serving customers across industrial and residential markets. The company’s core operations encompass the production of vinyls—primarily polyvinyl chloride (PVC) and its key feedstock vinyl chloride monomer (VCM)—as well as chlor-alkali products including caustic soda and chlorine. In addition, Westlake produces ethylene, propylene and specialty elastomers, along with construction-related materials such as vinyl siding, trim, windows and roofing systems.

Operating a network of vertically integrated plants and distribution centers, Westlake serves markets in North America, Europe and Asia.