Rhumbline Advisers lessened its holdings in shares of Westlake Chemical Co. (NYSE:WLK) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,207 shares of the specialty chemicals company’s stock after selling 632 shares during the period. Rhumbline Advisers’ holdings in Westlake Chemical were worth $3,857,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in shares of Westlake Chemical by 218.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 934,937 shares of the specialty chemicals company’s stock valued at $77,683,000 after purchasing an additional 641,432 shares in the last quarter. Royce & Associates LP lifted its holdings in shares of Westlake Chemical by 1.1% during the 3rd quarter. Royce & Associates LP now owns 748,884 shares of the specialty chemicals company’s stock valued at $62,225,000 after purchasing an additional 8,184 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Westlake Chemical by 6.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 708,449 shares of the specialty chemicals company’s stock valued at $58,874,000 after purchasing an additional 43,282 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Westlake Chemical by 252.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 592,581 shares of the specialty chemicals company’s stock valued at $49,509,000 after purchasing an additional 424,655 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Westlake Chemical by 95.2% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 374,624 shares of the specialty chemicals company’s stock valued at $39,719,000 after purchasing an additional 182,734 shares in the last quarter. Institutional investors and hedge funds own 30.28% of the company’s stock.
In other news, CAO George J. Mangieri sold 2,161 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $113.41, for a total transaction of $245,079.01. Following the sale, the chief accounting officer now owns 2,160 shares in the company, valued at approximately $244,965.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert T. Blakely sold 4,038 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $111.00, for a total value of $448,218.00. Following the sale, the director now owns 7,662 shares in the company, valued at approximately $850,482. The disclosure for this sale can be found here. In the last quarter, insiders have sold 103,080 shares of company stock worth $11,545,548. Company insiders own 72.50% of the company’s stock.
Shares of Westlake Chemical Co. (NYSE WLK) opened at $118.14 on Wednesday. The company has a market capitalization of $15,250.00, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 1.22 and a beta of 1.60. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.76 and a quick ratio of 1.30. Westlake Chemical Co. has a 12 month low of $59.58 and a 12 month high of $121.30.
Westlake Chemical (NYSE:WLK) last released its earnings results on Tuesday, February 20th. The specialty chemicals company reported $1.62 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.69 by ($0.07). Westlake Chemical had a net margin of 16.22% and a return on equity of 16.48%. The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the previous year, the firm posted $0.87 EPS. The company’s revenue was up 15.9% on a year-over-year basis. equities research analysts expect that Westlake Chemical Co. will post 8.07 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 13th. Stockholders of record on Tuesday, February 27th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date was Monday, February 26th. Westlake Chemical’s dividend payout ratio is currently 15.44%.
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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.
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