Westlake Co. (NYSE:WLK - Get Free Report) CFO Mark Steven Bender sold 4,950 shares of the business's stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $152.19, for a total value of $753,340.50. Following the completion of the sale, 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 legal filing with the SEC, which is accessible through this link.
Mark Steven Bender also recently made the following trade(s):
- On Wednesday, March 6th, Mark Steven Bender sold 4,804 shares of Westlake stock. The shares were sold at an average price of $141.02, for a total transaction of $677,460.08.
- On Monday, February 26th, Mark Steven Bender sold 4,854 shares of Westlake stock. The shares were sold at an average price of $137.57, for a total transaction of $667,764.78.
Westlake Stock Performance
Shares of NYSE WLK opened at $153.30 on Tuesday. 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 firm has a market cap of $19.65 billion, a price-to-earnings ratio of 77.04, a P/E/G ratio of 1.67 and a beta of 1.30. The stock's fifty day moving average price is $148.79 and its two-hundred day moving average price is $138.55. Westlake Co. has a one year low of $103.28 and a one year high of $162.64.
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Westlake (NYSE:WLK - Get Free Report) last released its quarterly earnings results on Wednesday, May 1st. The specialty chemicals company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.09 by $0.25. The business had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.93 billion. Westlake had a net margin of 2.13% and a return on equity of 7.69%. Westlake's revenue was down 11.4% compared to the same quarter last year. During the same period in the prior year, the company posted $3.05 earnings per share. On average, equities analysts forecast that Westlake Co. will post 6.73 EPS for the current year.
Westlake Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Wednesday, February 28th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend was Tuesday, February 27th. Westlake's dividend payout ratio (DPR) is currently 100.50%.
Analyst Upgrades and Downgrades
WLK has been the subject of a number of recent research reports. Wells Fargo & Company increased their price objective on shares of Westlake from $150.00 to $180.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 3rd. UBS Group boosted their price target on Westlake from $139.00 to $145.00 and gave the stock a "neutral" rating in a research report on Thursday, January 11th. Bank of America raised shares of 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. Vertical Research lowered shares of Westlake from a "buy" rating to a "hold" rating and set a $154.00 price target on the stock. in a research report on Monday, April 8th. Finally, Royal Bank of Canada lifted their price objective on shares of Westlake from $134.00 to $153.00 and gave the company a "sector perform" rating in a research report on Friday, April 19th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Westlake presently has an average rating of "Hold" and an average target price of $145.79.
Read Our Latest Stock Report on Westlake
Hedge Funds Weigh In On Westlake
A number of hedge funds have recently added to or reduced their stakes in the stock. CVA Family Office LLC acquired a new stake in shares of Westlake during the 4th quarter worth $25,000. Venturi Wealth Management LLC grew its stake in Westlake by 51.3% during the fourth quarter. Venturi Wealth Management LLC now owns 236 shares of the specialty chemicals company's stock worth $33,000 after buying an additional 80 shares in the last quarter. GAMMA Investing LLC bought a new position in Westlake in the 4th quarter valued at about $37,000. Fifth Third Bancorp raised its position in shares of Westlake by 55.9% in the 3rd quarter. Fifth Third Bancorp now owns 354 shares of the specialty chemicals company's stock valued at $44,000 after buying an additional 127 shares in the last quarter. Finally, Planned Solutions Inc. bought a new stake in shares of Westlake during the 4th quarter worth approximately $87,000. Institutional investors own 28.40% of the company's stock.
Westlake Company Profile
(
Get 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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