UBS Group AG Raises Stock Position in Westlake Chemical Partners LP $WLKP

UBS Group AG boosted its position in shares of Westlake Chemical Partners LP (NYSE:WLKP) by 12.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 520,388 shares of the basic materials company’s stock after purchasing an additional 57,624 shares during the period. UBS Group AG owned approximately 1.48% of Westlake Chemical Partners worth $9,887,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in WLKP. Geneos Wealth Management Inc. grew its holdings in Westlake Chemical Partners by 142.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 6,302 shares of the basic materials company’s stock valued at $120,000 after purchasing an additional 3,708 shares in the last quarter. Osaic Holdings Inc. grew its holdings in Westlake Chemical Partners by 45.8% during the 2nd quarter. Osaic Holdings Inc. now owns 10,153 shares of the basic materials company’s stock valued at $224,000 after purchasing an additional 3,187 shares in the last quarter. Jane Street Group LLC acquired a new stake in Westlake Chemical Partners during the 2nd quarter valued at $387,000. Apollon Wealth Management LLC grew its holdings in Westlake Chemical Partners by 3.3% during the 4th quarter. Apollon Wealth Management LLC now owns 20,395 shares of the basic materials company’s stock valued at $388,000 after purchasing an additional 658 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in Westlake Chemical Partners by 7.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 18,911 shares of the basic materials company’s stock valued at $397,000 after purchasing an additional 1,282 shares in the last quarter. 78.28% of the stock is owned by institutional investors and hedge funds.

Westlake Chemical Partners Price Performance

Shares of WLKP stock opened at $22.72 on Friday. The firm has a market cap of $800.88 million, a P/E ratio of 13.85, a P/E/G ratio of 0.64 and a beta of 0.52. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.65 and a quick ratio of 2.74. Westlake Chemical Partners LP has a 1-year low of $17.75 and a 1-year high of $23.88. The firm has a fifty day moving average of $22.51 and a two-hundred day moving average of $20.83.

Westlake Chemical Partners (NYSE:WLKP) last announced its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $305.68 million for the quarter, compared to analyst estimates of $522.00 million. Westlake Chemical Partners had a return on equity of 7.15% and a net margin of 4.69%. As a group, research analysts anticipate that Westlake Chemical Partners LP will post 1.88 earnings per share for the current fiscal year.

Westlake Chemical Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Thursday, May 14th will be issued a $0.4714 dividend. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $1.89 annualized dividend and a dividend yield of 8.3%. Westlake Chemical Partners’s payout ratio is 115.24%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on WLKP. Wall Street Zen raised shares of Westlake Chemical Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 28th. Weiss Ratings lowered shares of Westlake Chemical Partners from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

Westlake Chemical Partners Company Profile

Westlake Chemical Partners LP (NYSE: WLKP) is a publicly traded master limited partnership sponsored by Westlake Chemical Corporation. The partnership owns, operates and acquires a portfolio of ethylene and vinyl manufacturing assets throughout the United States and the United Kingdom. As a downstream producer of basic chemicals and intermediates, WLKP supplies key industrial feedstocks to customers in a variety of end markets.

WLKP’s operations are organized into two primary segments: olefins and vinyls.