Westlake Chemical Co. (WLK) CFO Sells $443,880.00 in Stock

Westlake Chemical Co. (NYSE:WLK) CFO Mark Steven Bender sold 4,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $110.97, for a total transaction of $443,880.00. Following the completion of the transaction, the chief financial officer now owns 22,810 shares in the company, valued at $2,531,225.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

  • On Monday, December 4th, Mark Steven Bender sold 6,500 shares of Westlake Chemical stock. The shares were sold at an average price of $97.83, for a total transaction of $635,895.00.

Shares of Westlake Chemical Co. (NYSE WLK) traded down $0.41 during trading on Friday, reaching $110.63. 418,646 shares of the company’s stock were exchanged, compared to its average volume of 804,738. The company has a current ratio of 2.31, a quick ratio of 1.59 and a debt-to-equity ratio of 0.74. Westlake Chemical Co. has a 12-month low of $59.58 and a 12-month high of $115.19. The company has a market cap of $14,310.00, a P/E ratio of 20.38, a PEG ratio of 1.25 and a beta of 1.62.

Westlake Chemical (NYSE:WLK) last issued its quarterly earnings results on Tuesday, February 20th. The specialty chemicals company reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.07). Westlake Chemical had a net margin of 16.22% and a return on equity of 17.54%. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same period last year, the company earned $0.87 earnings per share. Westlake Chemical’s revenue for the quarter was up 15.9% on a year-over-year basis. analysts forecast that Westlake Chemical Co. will post 7.48 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 13th. Shareholders of record on Tuesday, February 27th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date is Monday, February 26th. Westlake Chemical’s dividend payout ratio (DPR) is presently 15.44%.

A number of institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company boosted its holdings in Westlake Chemical by 5.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,922 shares of the specialty chemicals company’s stock valued at $260,000 after purchasing an additional 211 shares during the period. Voya Investment Management LLC boosted its holdings in Westlake Chemical by 2.5% in the 2nd quarter. Voya Investment Management LLC now owns 11,852 shares of the specialty chemicals company’s stock valued at $785,000 after purchasing an additional 286 shares during the period. Hanseatic Management Services Inc. boosted its holdings in Westlake Chemical by 7.0% in the 4th quarter. Hanseatic Management Services Inc. now owns 10,216 shares of the specialty chemicals company’s stock valued at $1,088,000 after purchasing an additional 664 shares during the period. Private Advisor Group LLC boosted its holdings in Westlake Chemical by 22.4% in the 3rd quarter. Private Advisor Group LLC now owns 4,148 shares of the specialty chemicals company’s stock valued at $351,000 after purchasing an additional 760 shares during the period. Finally, Aperio Group LLC boosted its holdings in Westlake Chemical by 4.8% in the 3rd quarter. Aperio Group LLC now owns 17,650 shares of the specialty chemicals company’s stock valued at $1,467,000 after purchasing an additional 814 shares during the period. 32.76% of the stock is owned by hedge funds and other institutional investors.

A number of research firms recently issued reports on WLK. Vertical Research lowered shares of Westlake Chemical from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $104.00 target price on shares of Westlake Chemical in a research note on Friday, November 24th. Wells Fargo & Co reiterated an “outperform” rating and issued a $122.00 target price (up from $112.00) on shares of Westlake Chemical in a research note on Wednesday, January 17th. Johnson Rice began coverage on shares of Westlake Chemical in a research note on Monday, November 6th. They issued an “accumulate” rating and a $100.00 target price on the stock. Finally, Bank of America lowered shares of Westlake Chemical from a “neutral” rating to an “underperform” rating and set a $105.00 target price on the stock. in a research note on Tuesday, January 16th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $110.86.

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About Westlake Chemical

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.

Insider Buying and Selling by Quarter for Westlake Chemical (NYSE:WLK)

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