Westlake Co. (NYSE:WLK) CFO Sells $753,340.50 in Stock

Westlake Co. (NYSE:WLK) CFO Mark Steven Bender sold 4,950 shares of Westlake stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $152.19, for a total transaction of $753,340.50. Following the completion of the transaction, the chief financial officer now directly owns 40,356 shares of the company’s stock, valued at $6,141,779.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Mark Steven Bender also recently made the following trade(s):

• On Wednesday, March 6th, Mark Steven Bender sold 4,804 shares of Westlake stock. The stock was sold at an average price of $141.02, for a total transaction of $677,460.08.
• On Monday, February 26th, Mark Steven Bender sold 4,854 shares of Westlake stock. The stock was sold at an average price of $137.57, for a total value of $667,764.78.

Westlake Trading Down 0.9 %

Shares of WLK stock opened at $154.97 on Thursday. The stock’s 50-day moving average price is $149.57 and its 200-day moving average price is $138.95. Westlake Co. has a 12-month low of $103.28 and a 12-month high of $162.64. The stock has a market capitalization of $19.92 billion, a price-to-earnings ratio of 77.87, a price-to-earnings-growth ratio of 1.68 and a beta of 1.30. The company has a current ratio of 2.46, a quick ratio of 1.83 and a debt-to-equity ratio of 0.42.

Westlake (NYSE:WLK) last issued its quarterly earnings data on Wednesday, May 1st. The specialty chemicals company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.25. Westlake had a return on equity of 7.69% and a net margin of 2.13%. The business had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.93 billion. During the same period in the prior year, the firm earned $3.05 EPS. The company’s revenue for the quarter was down 11.4% on a year-over-year basis. Equities research analysts predict that Westlake Co. will post 6.73 EPS for the current fiscal year.

Westlake Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Wednesday, February 28th were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.29%. Westlake’s payout ratio is currently 100.50%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on WLK. Barclays boosted their price target on Westlake from $142.00 to $160.00 and gave the company an “equal weight” rating in a report on Thursday, April 4th. Citigroup increased their target price on shares of Westlake from $140.00 to $162.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. Piper Sandler lifted their price target on shares of Westlake from $160.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday. Vertical Research lowered shares of Westlake from a “buy” rating to a “hold” rating and set a $154.00 price target for the company. in a research report on Monday, April 8th. Finally, Bank of America upgraded shares of Westlake from a “hold” rating to a “buy” rating and raised their price objective for the company from $138.00 to $174.00 in a research report on Thursday, April 18th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $147.93.

Institutional Trading of Westlake

Several hedge funds have recently made changes to their positions in the business. CVA Family Office LLC purchased a new position in Westlake in the fourth quarter worth about $25,000. Venturi Wealth Management LLC boosted its holdings in shares of Westlake by 51.3% in the 4th quarter. Venturi Wealth Management LLC now owns 236 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 80 shares during the period. GAMMA Investing LLC bought a new position in shares of Westlake during the 4th quarter valued at approximately $37,000. Fifth Third Bancorp raised its holdings in Westlake by 55.9% during the 3rd quarter. Fifth Third Bancorp now owns 354 shares of the specialty chemicals company’s stock valued at $44,000 after buying an additional 127 shares during the period. Finally, Planned Solutions Inc. bought a new stake in Westlake in the fourth quarter worth $87,000. 28.40% of the stock is currently owned by hedge funds and other institutional investors.

About Westlake

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.