Westlake Chemical Co. Declares Quarterly Dividend of $0.13 (WLK)
Westlake Chemical (NYSE:WLK) announced a quarterly dividend on Monday, May 19th, AnalystRatings.Net reports. Shareholders of record on Friday, May 30th will be paid a dividend of 0.126 per share on Tuesday, June 17th. This represents a $0.50 annualized dividend and a dividend yield of 0.67%.
WLK has been the subject of a number of recent research reports. Analysts at Macquarie raised their price target on shares of Westlake Chemical from $67.00 to $80.00 in a research note on Tuesday, May 6th. On a related note, analysts at JPMorgan Chase & Co. raised their price target on shares of Westlake Chemical from $74.50 to $80.00 in a research note on Tuesday, May 6th. They now have an “overweight” rating on the stock. Finally, analysts at Cowen and Company raised their price target on shares of Westlake Chemical from $67.50 to $75.00 in a research note on Tuesday, April 15th. They now have an “outperform” rating on the stock. Four investment analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average target price of $86.42.
Westlake Chemical (NYSE:WLK) opened at 75.45 on Monday. Westlake Chemical has a 52-week low of $44.76 and a 52-week high of $77.64. The stock’s 50-day moving average is $68.85 and its 200-day moving average is $62.76. The company has a market cap of $10.067 billion and a P/E ratio of 15.41.
Westlake Chemical (NYSE:WLK) last announced its earnings results on Monday, May 5th. The company reported $1.18 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.13 by $0.05. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $975.86 million. During the same quarter last year, the company posted $1.84 earnings per share. Westlake Chemical’s revenue was up 18.9% compared to the same quarter last year. On average, analysts predict that Westlake Chemical will post $5.43 earnings per share for the current fiscal year.
In other Westlake Chemical news, VP Robert Buesinger sold 1,872 shares of the company’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $77.36, for a total value of $144,817.92. Following the completion of the transaction, the vice president now directly owns 7,672 shares in the company, valued at approximately $593,506. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Westlake Chemical Corporation is a vertically integrated manufacturer and marketer of basic chemicals, vinyls, polymers and fabricated building products.
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