Recent Research Analysts’ Ratings Changes for Westlake (WLK)

Westlake (NYSE: WLK) has recently received a number of price target changes and ratings updates:

• 4/10/2024 – Westlake had its price target raised by analysts at Citigroup Inc. from $140.00 to $162.00. They now have a “neutral” rating on the stock.
• 4/8/2024 – Westlake was downgraded by analysts at Vertical Research from a “buy” rating to a “hold” rating. They now have a $154.00 price target on the stock.
• 4/4/2024 – Westlake had its price target raised by analysts at Barclays PLC from $142.00 to $160.00. They now have an “equal weight” rating on the stock.
• 4/3/2024 – Westlake had its price target raised by analysts at Wells Fargo & Company from $150.00 to $180.00. They now have an “overweight” rating on the stock.
• 2/26/2024 – Westlake had its price target lowered by analysts at Royal Bank of Canada from $139.00 to $134.00. They now have a “sector perform” rating on the stock.

Westlake Stock Down 2.8 %

Westlake stock opened at $157.58 on Thursday. The stock has a market capitalization of $20.20 billion, a PE ratio of 42.59, a price-to-earnings-growth ratio of 1.69 and a beta of 1.30. Westlake Co. has a twelve month low of $103.28 and a twelve month high of $162.64. The company has a quick ratio of 1.79, a current ratio of 2.37 and a debt-to-equity ratio of 0.43. The company has a 50 day moving average of $145.04 and a 200-day moving average of $135.00.

Westlake (NYSE:WLK) last announced its earnings results on Tuesday, February 20th. The specialty chemicals company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.09). Westlake had a return on equity of 9.70% and a net margin of 3.82%. The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same quarter in the previous year, the company posted $1.79 EPS. The business’s revenue for the quarter was down 14.3% compared to the same quarter last year. On average, equities research analysts anticipate that Westlake Co. will post 6.84 EPS for the current fiscal year.

Westlake Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Wednesday, February 28th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend was Tuesday, February 27th. Westlake’s payout ratio is presently 54.05%.

Insider Activity

In other news, CFO Mark Steven Bender sold 4,804 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $141.02, for a total value of $677,460.08. Following the transaction, the chief financial officer now directly owns 45,306 shares of the company’s stock, valued at $6,389,052.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Mark Steven Bender sold 4,804 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $141.02, for a total transaction of $677,460.08. Following the transaction, the chief financial officer now directly owns 45,306 shares of the company’s stock, valued at $6,389,052.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Robert F. Buesinger sold 3,878 shares of the firm’s stock in a transaction dated 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 directly owns 21,144 shares in the company, valued at $3,055,308. The disclosure for this sale can be found here. Insiders have sold 13,658 shares of company stock valued at $1,923,225 over the last ninety days. 1.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Westlake

A number of hedge funds have recently bought and sold shares of the business. Park Avenue Securities LLC increased its position in Westlake by 30.2% during the first quarter. Park Avenue Securities LLC now owns 2,145 shares of the specialty chemicals company’s stock worth $328,000 after acquiring an additional 497 shares during the period. Royal London Asset Management Ltd. acquired a new stake in Westlake during the fourth quarter worth about $308,000. Price T Rowe Associates Inc. MD grew its stake in Westlake by 0.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 42,297 shares of the specialty chemicals company’s stock worth $5,920,000 after buying an additional 109 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in Westlake by 2.2% during the fourth quarter. Public Employees Retirement System of Ohio now owns 15,516 shares of the specialty chemicals company’s stock worth $2,172,000 after buying an additional 332 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its stake in Westlake by 3.8% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 24,896 shares of the specialty chemicals company’s stock worth $3,484,000 after buying an additional 910 shares in the last quarter. 28.40% of the stock is owned by institutional investors.

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.