Westlake Chemical Corporation (WLK) VP Mark Steven Bender Sells 13,794 Shares
Westlake Chemical Corporation (NYSE:WLK) VP Mark Steven Bender sold 13,794 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $70.22, for a total transaction of $968,614.68. Following the completion of the sale, the vice president now owns 44,449 shares of the company’s stock, valued at approximately $3,121,208.78. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Westlake Chemical Corporation (NYSE:WLK) traded up 1.20% on Wednesday, hitting $71.03. 529,208 shares of the stock were exchanged. The company has a 50-day moving average of $68.97 and a 200-day moving average of $65.15. The stock has a market cap of $9.17 billion, a price-to-earnings ratio of 20.30 and a beta of 1.67. Westlake Chemical Corporation has a 12 month low of $47.55 and a 12 month high of $72.00.
Westlake Chemical Corporation (NYSE:WLK) last issued its earnings results on Thursday, August 3rd. The specialty chemicals company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.02. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $2 billion. Westlake Chemical Corporation had a net margin of 6.57% and a return on equity of 13.68%. The business’s revenue for the quarter was up 82.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.85 earnings per share. On average, equities analysts predict that Westlake Chemical Corporation will post $4.66 EPS for the current year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ruggie Capital Group bought a new position in Westlake Chemical Corporation during the first quarter valued at $117,000. Advisors Asset Management Inc. boosted its position in Westlake Chemical Corporation by 162.8% in the second quarter. Advisors Asset Management Inc. now owns 2,276 shares of the specialty chemicals company’s stock valued at $151,000 after buying an additional 1,410 shares during the last quarter. Verity Asset Management Inc. bought a new position in Westlake Chemical Corporation during the second quarter valued at $204,000. OppenheimerFunds Inc. bought a new position in Westlake Chemical Corporation during the first quarter valued at $205,000. Finally, Regentatlantic Capital LLC bought a new position in Westlake Chemical Corporation during the first quarter valued at $206,000. 30.14% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have commented on the stock. BidaskClub upgraded shares of Westlake Chemical Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Royal Bank Of Canada reiterated a “buy” rating and issued a $75.00 price objective on shares of Westlake Chemical Corporation in a research note on Tuesday, April 25th. Zacks Investment Research upgraded shares of Westlake Chemical Corporation from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Friday, May 5th. Cowen and Company increased their price objective on shares of Westlake Chemical Corporation from $66.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday, May 23rd. Finally, Bank of America Corporation reiterated a “neutral” rating and issued a $68.00 price objective on shares of Westlake Chemical Corporation in a research note on Monday, May 8th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $64.67.
About Westlake Chemical Corporation
Westlake Chemical Corporation is a global manufacturer and marketer of basic chemicals, vinyls, polymers and building products. The Company’s products include a range of chemicals, which are fundamental to various consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, water treatment, refrigerants, residential and commercial construction, as well as other durable and non-durable goods.
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