Westlake Chemical Co. (NYSE:WLK) CFO Mark Steven Bender sold 6,500 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $97.83, for a total value of $635,895.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Mark Steven Bender also recently made the following trade(s):
- On Tuesday, November 21st, Mark Steven Bender sold 20,382 shares of Westlake Chemical stock. The shares were sold at an average price of $94.27, for a total value of $1,921,411.14.
- On Monday, November 13th, Mark Steven Bender sold 29,804 shares of Westlake Chemical stock. The shares were sold at an average price of $94.02, for a total value of $2,802,172.08.
Westlake Chemical Co. (WLK) opened at $97.69 on Thursday. The firm has a market capitalization of $12,705.46, a PE ratio of 19.72, a PEG ratio of 1.78 and a beta of 1.71. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.31 and a quick ratio of 1.59. Westlake Chemical Co. has a one year low of $55.83 and a one year high of $99.71.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Monday, November 27th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Friday, November 24th. Westlake Chemical’s payout ratio is presently 18.26%.
A number of institutional investors have recently made changes to their positions in WLK. Tortoise Capital Advisors L.L.C. boosted its stake in Westlake Chemical by 6,376.2% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 1,360 shares of the specialty chemicals company’s stock valued at $113,000 after buying an additional 1,339 shares during the last quarter. Cornerstone Capital Management Holdings LLC. bought a new position in Westlake Chemical during the third quarter valued at approximately $137,000. Advisors Asset Management Inc. boosted its stake in Westlake Chemical by 162.8% during the second quarter. Advisors Asset Management Inc. now owns 2,276 shares of the specialty chemicals company’s stock valued at $151,000 after buying an additional 1,410 shares during the last quarter. Verity Asset Management Inc. bought a new position in Westlake Chemical during the second quarter valued at approximately $204,000. Finally, Quantitative Systematic Strategies LLC bought a new position in Westlake Chemical during the third quarter valued at approximately $204,000. 30.42% of the stock is owned by institutional investors.
WLK has been the subject of a number of research reports. Wells Fargo & Company reiterated a “positive” rating and set a $94.00 price objective (up previously from $77.00) on shares of Westlake Chemical in a research report on Wednesday, September 27th. Nomura upgraded Westlake Chemical from a “neutral” rating to a “buy” rating and set a $98.00 price target for the company in a research report on Tuesday, September 26th. SunTrust Banks restated a “buy” rating and issued a $93.00 price target on shares of Westlake Chemical in a research report on Thursday, September 28th. ValuEngine upgraded Westlake Chemical from a “hold” rating to a “buy” rating in a research report on Tuesday, November 7th. Finally, Royal Bank Of Canada restated a “buy” rating on shares of Westlake Chemical in a research report on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $98.09.
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Westlake Chemical Company Profile
Westlake Chemical Corporation is a global manufacturer and marketer of basic chemicals, vinyls, polymers and building products. The Company’s products include a range of chemicals, which are fundamental to various consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, water treatment, refrigerants, residential and commercial construction, as well as other durable and non-durable goods.
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