Sumitomo Mitsui Trust Holdings Inc. Has $12.50 Million Stock Holdings in Westlake Co. (NYSE:WLK)

Sumitomo Mitsui Trust Holdings Inc. increased its stake in Westlake Co. (NYSE:WLK) by 0.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 89,310 shares of the specialty chemicals company’s stock after buying an additional 445 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Westlake were worth $12,500,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. DnB Asset Management AS boosted its position in Westlake by 61.7% during the third quarter. DnB Asset Management AS now owns 18,427 shares of the specialty chemicals company’s stock valued at $2,297,000 after acquiring an additional 7,033 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Westlake by 13.0% during the 3rd quarter. SG Americas Securities LLC now owns 12,155 shares of the specialty chemicals company’s stock valued at $1,515,000 after purchasing an additional 1,403 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in Westlake by 19.3% during the third quarter. Exchange Traded Concepts LLC now owns 599 shares of the specialty chemicals company’s stock worth $75,000 after purchasing an additional 97 shares during the period. Oak Thistle LLC bought a new stake in Westlake in the third quarter worth approximately $728,000. Finally, Asset Management One Co. Ltd. boosted its holdings in shares of Westlake by 21.9% during the 3rd quarter. Asset Management One Co. Ltd. now owns 16,217 shares of the specialty chemicals company’s stock worth $2,022,000 after buying an additional 2,918 shares in the last quarter. 28.40% of the stock is currently owned by institutional investors.

Westlake Price Performance

Shares of NYSE:WLK opened at $149.68 on Tuesday. The company has a current ratio of 2.37, a quick ratio of 1.79 and a debt-to-equity ratio of 0.43. The stock has a market cap of $19.19 billion, a PE ratio of 40.45, a price-to-earnings-growth ratio of 1.46 and a beta of 1.30. The stock’s fifty day simple moving average is $146.73 and its two-hundred day simple moving average is $136.65. Westlake Co. has a 1-year low of $103.28 and a 1-year high of $162.64.

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 net margin of 3.82% and a return on equity of 9.70%. The firm had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.85 billion. During the same quarter in the prior year, the company earned $1.79 EPS. The business’s revenue for the quarter was down 14.3% on a year-over-year basis. As a group, analysts forecast that Westlake Co. will post 6.93 EPS for the current fiscal year.

Westlake Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Wednesday, February 28th were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, February 27th. This represents a $2.00 annualized dividend and a dividend yield of 1.34%. Westlake’s dividend payout ratio is currently 54.05%.

Insider Transactions at Westlake

In related news, CFO Mark Steven Bender sold 4,854 shares of Westlake stock in a transaction on Monday, February 26th. The stock was sold at an average price of $137.57, for a total transaction of $667,764.78. Following the sale, the chief financial officer now directly owns 50,110 shares in the company, valued at $6,893,632.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Robert F. Buesinger sold 3,878 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $144.50, for a total transaction of $560,371.00. Following the completion of the sale, the executive vice president now owns 21,144 shares in the company, valued at $3,055,308. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Steven Bender sold 4,854 shares of Westlake stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $137.57, for a total transaction of $667,764.78. Following the completion of the sale, the chief financial officer now directly owns 50,110 shares in the company, valued at approximately $6,893,632.70. The disclosure for this sale can be found here. Insiders have sold 13,658 shares of company stock worth $1,923,225 in the last 90 days. Insiders own 74.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. UBS Group increased their target price on shares of Westlake from $139.00 to $145.00 and gave the stock a “neutral” rating in a research note on Thursday, January 11th. Barclays raised their target price on Westlake from $142.00 to $160.00 and gave the company an “equal weight” rating in a research note on Thursday, April 4th. Tudor, Pickering, Holt & Co. raised Westlake from a “sell” rating to a “hold” rating in a research report on Tuesday, January 2nd. Deutsche Bank Aktiengesellschaft upgraded Westlake from a “hold” rating to a “buy” rating and increased their price target for the stock from $138.00 to $174.00 in a report on Thursday, April 18th. Finally, Royal Bank of Canada boosted their price objective on Westlake from $134.00 to $153.00 and gave the company a “sector perform” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $145.79.

Westlake Company Profile

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.