Westlake Chemical Co. (NYSE:WLK) CEO Albert Chao sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $94.34, for a total value of $2,358,500.00. Following the sale, the chief executive officer now directly owns 299,018 shares of the company’s stock, valued at $28,209,358.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Albert Chao also recently made the following trade(s):
- On Wednesday, November 29th, Albert Chao sold 16,844 shares of Westlake Chemical stock. The stock was sold at an average price of $95.25, for a total value of $1,604,391.00.
- On Monday, November 27th, Albert Chao sold 25,000 shares of Westlake Chemical stock. The stock was sold at an average price of $93.96, for a total value of $2,349,000.00.
- On Friday, November 24th, Albert Chao sold 45,000 shares of Westlake Chemical stock. The stock was sold at an average price of $94.76, for a total value of $4,264,200.00.
Shares of Westlake Chemical Co. (NYSE:WLK) opened at $99.37 on Friday. Westlake Chemical Co. has a fifty-two week low of $55.83 and a fifty-two week high of $99.71. The company has a current ratio of 2.31, a quick ratio of 1.59 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $12,705.46, a price-to-earnings ratio of 19.72, a PEG ratio of 1.78 and a beta of 1.71.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Monday, November 27th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Friday, November 24th. Westlake Chemical’s dividend payout ratio (DPR) is currently 18.26%.
A number of equities analysts have recently issued reports on the company. Wells Fargo & Company restated a “buy” rating and issued a $112.00 price target (up previously from $105.00) on shares of Westlake Chemical in a report on Thursday. Johnson Rice began coverage on Westlake Chemical in a report on Monday, November 6th. They issued an “accumulate” rating and a $100.00 price target on the stock. SunTrust Banks reiterated a “buy” rating and set a $86.00 target price on shares of Westlake Chemical in a report on Wednesday, September 6th. Cowen increased their target price on Westlake Chemical from $78.00 to $92.00 and gave the company an “outperform” rating in a report on Tuesday, October 10th. Finally, ValuEngine cut Westlake Chemical from a “buy” rating to a “hold” rating in a report on Tuesday, November 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $98.09.
Large investors have recently added to or reduced their stakes in the business. Tortoise Capital Advisors L.L.C. grew its stake in shares of 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 acquiring an additional 1,339 shares in the last quarter. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Westlake Chemical during the third quarter valued at about $137,000. Advisors Asset Management Inc. grew its stake in shares of 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 acquiring an additional 1,410 shares in the last quarter. Verity Asset Management Inc. acquired a new stake in shares of Westlake Chemical during the second quarter valued at about $204,000. Finally, Quantitative Systematic Strategies LLC acquired a new stake in shares of Westlake Chemical during the third quarter valued at about $204,000. 30.42% of the stock is currently owned by institutional investors.
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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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