Westlake Chemical Co. (NYSE:WLK) has earned a consensus rating of “Buy” from the sixteen research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $99.50.

A number of analysts have weighed in on the company. Johnson Rice assumed coverage on Westlake Chemical in a research note on Monday, November 6th. They issued an “accumulate” rating and a $100.00 price target on the stock. SunTrust Banks reiterated a “buy” rating and set a $86.00 target price on shares of Westlake Chemical in a research report on Wednesday, September 6th. Cowen lifted their target price on Westlake Chemical from $78.00 to $92.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 10th. ValuEngine cut Westlake Chemical from a “buy” rating to a “hold” rating in a research report on Tuesday, November 21st. Finally, Alembic Global Advisors reiterated a “buy” rating on shares of Westlake Chemical in a research report on Friday, November 24th.

In related news, EVP Robert F. Buesinger sold 2,674 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $98.50, for a total transaction of $263,389.00. Following the transaction, the executive vice president now owns 6,635 shares of the company’s stock, valued at $653,547.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Mark Steven Bender sold 6,500 shares of the firm’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $97.83, for a total value of $635,895.00. The disclosure for this sale can be found here. Insiders have sold 293,122 shares of company stock worth $27,721,443 in the last quarter. Insiders own 71.70% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WLK. Morgan Stanley grew its holdings in shares of Westlake Chemical by 15.1% during the first quarter. Morgan Stanley now owns 26,028 shares of the specialty chemicals company’s stock worth $1,718,000 after buying an additional 3,413 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Westlake Chemical by 34.1% during the second quarter. Bank of Montreal Can now owns 10,357 shares of the specialty chemicals company’s stock worth $686,000 after buying an additional 2,634 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Westlake Chemical by 47.3% during the second quarter. Russell Investments Group Ltd. now owns 23,639 shares of the specialty chemicals company’s stock worth $1,569,000 after buying an additional 7,593 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Westlake Chemical by 21.4% during the second quarter. Sei Investments Co. now owns 57,617 shares of the specialty chemicals company’s stock worth $3,814,000 after buying an additional 10,148 shares during the last quarter. Finally, Global X Management Co. LLC grew its holdings in shares of Westlake Chemical by 50.0% during the second quarter. Global X Management Co. LLC now owns 8,900 shares of the specialty chemicals company’s stock worth $589,000 after buying an additional 2,966 shares during the last quarter. 30.42% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Westlake Chemical (NYSE WLK) opened at $100.96 on Friday. Westlake Chemical has a 52 week low of $55.83 and a 52 week high of $102.58. The company has a quick ratio of 1.59, a current ratio of 2.31 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $13,100.00, a price-to-earnings ratio of 20.22, a price-to-earnings-growth ratio of 1.83 and a beta of 1.72.

The company also recently announced a quarterly dividend, which was paid on Monday, December 11th. Stockholders of record on Monday, November 27th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend was Friday, November 24th. Westlake Chemical’s dividend payout ratio (DPR) is currently 18.22%.

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Westlake Chemical Company Profile

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.

Analyst Recommendations for Westlake Chemical (NYSE:WLK)

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