Key Points
- CFO Mark Steven Bender sold 17,409 shares on Feb. 27 for $1,756,916.28 (avg. $100.92), leaving him with 44,433 shares — a 28.15% reduction in his ownership disclosed in an SEC filing.
- Westlake's latest quarter showed a ($0.25) EPS that beat consensus by $1.22, while revenue of $2.53 billion missed estimates and was down 10.9% year-over-year, with negative net margin and return on equity.
- The company announced a $0.53 quarterly dividend (annualized $2.12, ~2.0% yield) with an ex-dividend date of March 3; analysts hold a consensus "Hold" rating and an average target price of $94.80.
Westlake Corporation (NYSE:WLK - Get Free Report) CFO Mark Steven Bender sold 17,409 shares of the company's stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $100.92, for a total value of $1,756,916.28. Following the sale, the chief financial officer directly owned 44,433 shares of the company's stock, valued at approximately $4,484,178.36. This represents a 28.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Westlake Price Performance
Westlake stock opened at $106.78 on Tuesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.24 and a quick ratio of 1.65. The business has a 50 day simple moving average of $87.67 and a 200-day simple moving average of $79.93. Westlake Corporation has a 12 month low of $56.33 and a 12 month high of $114.75. The stock has a market capitalization of $13.70 billion, a PE ratio of -9.13, a price-to-earnings-growth ratio of 42.79 and a beta of 0.83.
Westlake (NYSE:WLK - Get Free Report) last announced its quarterly earnings data on Tuesday, February 24th. The specialty chemicals company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.47) by $1.22. The company had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.61 billion. Westlake had a negative net margin of 13.50% and a negative return on equity of 1.22%. Westlake's revenue was down 10.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.06 EPS. Equities analysts predict that Westlake Corporation will post 6.48 earnings per share for the current year.
Westlake Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Tuesday, March 3rd will be given a $0.53 dividend. The ex-dividend date is Tuesday, March 3rd. This represents a $2.12 dividend on an annualized basis and a yield of 2.0%. Westlake's dividend payout ratio (DPR) is presently -18.12%.
Analyst Ratings Changes
Several analysts have recently commented on the company. Royal Bank Of Canada reissued an "outperform" rating and issued a $100.00 price target on shares of Westlake in a report on Friday, January 16th. KeyCorp restated a "sector weight" rating on shares of Westlake in a research report on Tuesday, December 16th. Wells Fargo & Company increased their price target on shares of Westlake from $70.00 to $100.00 and gave the company an "equal weight" rating in a report on Thursday, February 26th. Bank of America reiterated a "buy" rating on shares of Westlake in a research note on Monday. Finally, Truist Financial lifted their price target on shares of Westlake from $82.00 to $99.00 and gave the company a "buy" rating in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $94.80.
Read Our Latest Analysis on WLK
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the business. Daiwa Securities Group Inc. lifted its position in Westlake by 2.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,108 shares of the specialty chemicals company's stock valued at $304,000 after buying an additional 117 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Westlake by 11.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,433 shares of the specialty chemicals company's stock valued at $109,000 after acquiring an additional 151 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Westlake by 0.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,134 shares of the specialty chemicals company's stock valued at $2,136,000 after acquiring an additional 165 shares in the last quarter. Police & Firemen s Retirement System of New Jersey increased its holdings in Westlake by 4.1% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 5,020 shares of the specialty chemicals company's stock valued at $381,000 after purchasing an additional 198 shares in the last quarter. Finally, CWM LLC raised its position in Westlake by 54.5% in the second quarter. CWM LLC now owns 567 shares of the specialty chemicals company's stock valued at $43,000 after purchasing an additional 200 shares during the period. 28.40% of the stock is owned by hedge funds and other institutional investors.
Westlake Company Profile
(
Get Free Report)
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.
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