Westlake Chemical Co. (NYSE:WLK) CFO Mark Steven Bender sold 12,066 shares of the stock in a transaction that occurred on Monday, May 21st. The shares were sold at an average price of $122.83, for a total transaction of $1,482,066.78. Following the completion of the transaction, the chief financial officer now owns 27,876 shares in the company, valued at $3,424,009.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Mark Steven Bender also recently made the following trade(s):
- On Friday, May 11th, Mark Steven Bender sold 23,506 shares of Westlake Chemical stock. The shares were sold at an average price of $117.33, for a total value of $2,757,958.98.
- On Monday, February 26th, Mark Steven Bender sold 5,000 shares of Westlake Chemical stock. The shares were sold at an average price of $111.69, for a total value of $558,450.00.
- On Thursday, February 22nd, Mark Steven Bender sold 4,000 shares of Westlake Chemical stock. The shares were sold at an average price of $110.97, for a total value of $443,880.00.
Shares of Westlake Chemical opened at $121.42 on Thursday, according to MarketBeat.com. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.79 and a quick ratio of 1.22. Westlake Chemical Co. has a 1-year low of $60.23 and a 1-year high of $124.29. The firm has a market cap of $16.03 billion, a P/E ratio of 22.20, a P/E/G ratio of 1.16 and a beta of 1.56.
Westlake Chemical (NYSE:WLK) last issued its quarterly earnings results on Thursday, May 3rd. The specialty chemicals company reported $2.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.09 by $0.11. Westlake Chemical had a return on equity of 17.77% and a net margin of 17.61%. The firm had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same period last year, the company earned $1.06 earnings per share. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. sell-side analysts predict that Westlake Chemical Co. will post 8.71 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 13th. Investors of record on Wednesday, May 30th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Tuesday, May 29th. Westlake Chemical’s dividend payout ratio is presently 15.36%.
Several hedge funds and other institutional investors have recently modified their holdings of WLK. Schwab Charles Investment Management Inc. lifted its holdings in shares of Westlake Chemical by 95.2% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 374,624 shares of the specialty chemicals company’s stock worth $39,719,000 after purchasing an additional 182,734 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of Westlake Chemical during the fourth quarter worth $244,000. Steward Partners Investment Advisory LLC acquired a new stake in Westlake Chemical in the fourth quarter valued at $462,000. Smith Graham & Co. Investment Advisors LP lifted its holdings in Westlake Chemical by 21.4% in the fourth quarter. Smith Graham & Co. Investment Advisors LP now owns 89,266 shares of the specialty chemicals company’s stock valued at $9,510,000 after acquiring an additional 15,710 shares during the period. Finally, Strs Ohio lifted its holdings in Westlake Chemical by 13.5% in the fourth quarter. Strs Ohio now owns 252,246 shares of the specialty chemicals company’s stock valued at $26,871,000 after acquiring an additional 30,000 shares during the period. 30.07% of the stock is owned by hedge funds and other institutional investors.
WLK has been the subject of several research analyst reports. MED reissued a “buy” rating and issued a $130.00 price objective on shares of Westlake Chemical in a report on Thursday, May 17th. ValuEngine raised Westlake Chemical from a “hold” rating to a “buy” rating in a report on Saturday, May 12th. Royal Bank of Canada reissued a “buy” rating and issued a $130.00 price objective on shares of Westlake Chemical in a report on Tuesday, April 17th. Zacks Investment Research raised Westlake Chemical from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a report on Wednesday, February 21st. Finally, Citigroup reissued a “buy” rating and issued a $133.00 price objective on shares of Westlake Chemical in a report on Wednesday, February 21st. Two analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Westlake Chemical has an average rating of “Buy” and an average target price of $116.81.
About Westlake Chemical
Westlake Chemical Corporation manufactures and markets basic chemicals, vinyls, polymers, and building products primarily in North America and Europe. It operates through two segments, Olefins and Vinyls. The Olefins segment offers polyethylene, styrene monomers, and various ethylene co-products, as well as sells propylene, crude butadiene, pyrolysis gasoline, and hydrogen products.
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