StockNews.com Upgrades Westlake (NYSE:WLK) to “Hold”

StockNews.com upgraded shares of Westlake (NYSE:WLKFree Report) from a sell rating to a hold rating in a research report released on Tuesday morning.

WLK has been the subject of a number of other research reports. Citigroup increased their target price on shares of Westlake from $140.00 to $162.00 and gave the company a neutral rating in a research report on Wednesday, April 10th. Wells Fargo & Company increased their target price on shares of Westlake from $150.00 to $180.00 and gave the company an overweight rating in a research report on Wednesday, April 3rd. Deutsche Bank Aktiengesellschaft upgraded shares of Westlake from a hold rating to a buy rating and increased their target price for the company from $138.00 to $174.00 in a research report on Thursday, April 18th. Royal Bank of Canada increased their target price 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. Finally, Vertical Research cut shares of Westlake from a buy rating to a hold rating and set a $154.00 price objective on the stock. in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $151.00.

View Our Latest Stock Analysis on WLK

Westlake Stock Down 0.8 %

WLK stock opened at $153.09 on Tuesday. The company has a quick ratio of 1.83, a current ratio of 2.46 and a debt-to-equity ratio of 0.42. Westlake has a fifty-two week low of $107.34 and a fifty-two week high of $162.64. The firm’s 50-day simple moving average is $154.83 and its 200 day simple moving average is $144.25. The stock has a market cap of $19.68 billion, a PE ratio of 76.93, a price-to-earnings-growth ratio of 1.98 and a beta of 1.26.

Westlake (NYSE:WLKGet Free Report) last announced its earnings results on Wednesday, May 1st. The specialty chemicals company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.25. The firm had revenue of $2.98 billion during the quarter, compared to analyst estimates 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 quarter in the prior year, the firm posted $3.05 EPS. As a group, sell-side analysts predict that Westlake will post 6.59 EPS for the current year.

Westlake Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Tuesday, May 21st were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.31%. The ex-dividend date was Monday, May 20th. Westlake’s payout ratio is 100.50%.

Insider Buying and Selling at Westlake

In other news, EVP Robert F. Buesinger sold 3,878 shares of Westlake stock in a transaction on Friday, March 15th. The stock was sold at an average price of $144.50, for a total transaction of $560,371.00. Following the transaction, the executive vice president now owns 21,144 shares in the company, valued at $3,055,308. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Westlake news, CFO Mark Steven Bender sold 4,950 shares of the 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 can be accessed through this link. Also, EVP Robert F. Buesinger sold 3,878 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $144.50, for a total transaction of $560,371.00. Following the transaction, the executive vice president now owns 21,144 shares in the company, valued at $3,055,308. The disclosure for this sale can be found here. Insiders have sold a total of 8,950 shares of company stock valued at $1,331,341 in the last three months. 74.10% of the stock is currently owned by company insiders.

Institutional Trading of Westlake

A number of institutional investors have recently bought and sold shares of the company. CVA Family Office LLC acquired a new position in shares of Westlake during the 4th quarter worth $25,000. Venturi Wealth Management LLC increased its position 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 during the last quarter. GAMMA Investing LLC bought a new position in Westlake during the fourth quarter valued at about $37,000. Pathway Financial Advisers LLC acquired a new stake in shares of Westlake in the first quarter worth about $43,000. Finally, UniSuper Management Pty Ltd boosted its stake in shares of Westlake by 66.7% during the 1st quarter. UniSuper Management Pty Ltd now owns 500 shares of the specialty chemicals company’s stock worth $76,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds 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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Analyst Recommendations for Westlake (NYSE:WLK)

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