Westlake Chemical Corporation (WLK) Position Maintained by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC maintained its position in Westlake Chemical Corporation (NYSE:WLK) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,800 shares of the specialty chemicals company’s stock at the close of the 2nd quarter. Mutual of America Capital Management LLC’s holdings in Westlake Chemical Corporation were worth $318,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Westlake Chemical Corporation by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 4,201,948 shares of the specialty chemicals company’s stock worth $277,538,000 after buying an additional 326,298 shares during the last quarter. FMR LLC lifted its stake in shares of Westlake Chemical Corporation by 7.5% during the 1st quarter. FMR LLC now owns 2,442,430 shares of the specialty chemicals company’s stock worth $161,323,000 after buying an additional 171,342 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Westlake Chemical Corporation by 14,246.4% during the 1st quarter. BlackRock Inc. now owns 1,699,615 shares of the specialty chemicals company’s stock worth $112,260,000 after buying an additional 1,687,768 shares during the last quarter. TIAA CREF Investment Management LLC lifted its stake in shares of Westlake Chemical Corporation by 14.8% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 1,570,608 shares of the specialty chemicals company’s stock worth $103,990,000 after buying an additional 202,453 shares during the last quarter. Finally, Teachers Advisors LLC lifted its stake in shares of Westlake Chemical Corporation by 61.4% during the 1st quarter. Teachers Advisors LLC now owns 826,768 shares of the specialty chemicals company’s stock worth $54,608,000 after buying an additional 314,578 shares during the last quarter. Institutional investors own 31.97% of the company’s stock.

A number of research firms have recently issued reports on WLK. Wells Fargo & Company restated a “positive” rating and set a $94.00 target price (up previously from $77.00) on shares of Westlake Chemical Corporation in a research note on Wednesday, September 27th. SunTrust Banks, Inc. restated a “buy” rating and set a $93.00 target price on shares of Westlake Chemical Corporation in a research note on Thursday, September 28th. BidaskClub upgraded shares of Westlake Chemical Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Instinet upgraded shares of Westlake Chemical Corporation from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 26th. Finally, Royal Bank Of Canada restated a “buy” rating on shares of Westlake Chemical Corporation in a research note on Wednesday, September 6th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Westlake Chemical Corporation presently has an average rating of “Buy” and an average target price of $78.78.

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In other news, VP Mark Steven Bender sold 13,794 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $70.22, for a total value of $968,614.68. Following the sale, the vice president now directly owns 44,449 shares of the company’s stock, valued at $3,121,208.78. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 71.70% of the company’s stock.

Shares of Westlake Chemical Corporation (WLK) opened at 84.50 on Thursday. The firm has a 50-day moving average of $79.90 and a 200 day moving average of $69.29. The firm has a market cap of $10.91 billion, a PE ratio of 24.15 and a beta of 1.63. Westlake Chemical Corporation has a 52 week low of $48.92 and a 52 week high of $85.55.

Westlake Chemical Corporation (NYSE:WLK) last issued its earnings results on Thursday, August 3rd. The specialty chemicals company reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.02. The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $2 billion. Westlake Chemical Corporation had a net margin of 6.57% and a return on equity of 13.68%. The company’s quarterly revenue was up 82.2% on a year-over-year basis. During the same quarter last year, the business earned $0.85 earnings per share. Equities research analysts predict that Westlake Chemical Corporation will post $4.85 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, September 18th. Stockholders of record on Friday, September 1st were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.99%. This is an increase from Westlake Chemical Corporation’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Wednesday, August 30th. Westlake Chemical Corporation’s dividend payout ratio is presently 24.00%.

Westlake Chemical Corporation Company Profile

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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Institutional Ownership by Quarter for Westlake Chemical Corporation (NYSE:WLK)

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