News stories about Westlake Chemical (NYSE:WLK) have been trending somewhat positive recently, according to Accern Sentiment Analysis. The research group identifies positive and negative press coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Westlake Chemical earned a coverage optimism score of 0.12 on Accern’s scale. Accern also assigned news coverage about the specialty chemicals company an impact score of 46.0446519560208 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
Here are some of the news articles that may have effected Accern Sentiment Analysis’s analysis:
- Celanese: More Price Hikes for Acetyl Intermediates (finance.yahoo.com)
- Westlake Chemical Announces Optional Redemption of $450 Million of Senior Notes (markets.financialcontent.com)
- W.R. Grace Increases Dividend for a Second Year in a Row (finance.yahoo.com)
- Westlake Chemical (WLK) Lowered to “Hold” at Zacks Investment Research (americanbankingnews.com)
- $2.14 Billion in Sales Expected for Westlake Chemical Co. (WLK) This Quarter (americanbankingnews.com)
Westlake Chemical stock traded down $1.44 during trading hours on Monday, reaching $114.43. The company’s stock had a trading volume of 527,531 shares, compared to its average volume of 783,785. Westlake Chemical has a twelve month low of $59.58 and a twelve month high of $121.30. The company has a quick ratio of 1.30, a current ratio of 1.76 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $14,995.87, a price-to-earnings ratio of 11.45, a PEG ratio of 1.18 and a beta of 1.59.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 13th. Stockholders of record on Tuesday, February 27th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date was Monday, February 26th. Westlake Chemical’s dividend payout ratio (DPR) is 8.41%.
A number of analysts recently commented on WLK shares. Deutsche Bank reiterated a “buy” rating and set a $115.00 price objective on shares of Westlake Chemical in a research report on Wednesday, December 13th. Morgan Stanley initiated coverage on Westlake Chemical in a research report on Tuesday, January 9th. They set an “equal weight” rating and a $120.00 price objective for the company. Wells Fargo reissued an “outperform” rating and set a $122.00 price target (up previously from $112.00) on shares of Westlake Chemical in a report on Wednesday, January 17th. Alembic Global Advisors reissued a “buy” rating and set a $110.00 price target on shares of Westlake Chemical in a report on Wednesday, December 20th. Finally, SunTrust Banks boosted their price target on Westlake Chemical from $102.00 to $113.00 and gave the company a “buy” rating in a report on Tuesday, December 19th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $111.43.
In other news, SVP George J. Mangieri sold 4,335 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $111.22, for a total value of $482,138.70. Following the completion of the transaction, the senior vice president now owns 5,810 shares of the company’s stock, valued at $646,188.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Andrew Kenner sold 24,318 shares of the company’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $110.61, for a total value of $2,689,813.98. Following the completion of the transaction, the senior vice president now directly owns 20,005 shares of the company’s stock, valued at approximately $2,212,753.05. The disclosure for this sale can be found here. In the last ninety days, insiders sold 103,080 shares of company stock valued at $11,545,548. Corporate insiders own 72.50% of the company’s stock.
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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.
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