Westlake Chemical Co. (WLK) CEO Sells $1,604,391.00 in Stock

Westlake Chemical Co. (NYSE:WLK) CEO Albert Chao sold 16,844 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $95.25, for a total value of $1,604,391.00. Following the sale, the chief executive officer now owns 299,018 shares in the company, valued at approximately $28,481,464.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Albert Chao also recently made the following trade(s):

  • On Monday, November 27th, Albert Chao sold 25,000 shares of Westlake Chemical stock. The shares were sold at an average price of $93.96, for a total value of $2,349,000.00.
  • On Friday, November 24th, Albert Chao sold 45,000 shares of Westlake Chemical stock. The shares were sold at an average price of $94.76, for a total value of $4,264,200.00.
  • On Tuesday, November 21st, Albert Chao sold 25,000 shares of Westlake Chemical stock. The shares were sold at an average price of $94.34, for a total value of $2,358,500.00.

Westlake Chemical Co. (NYSE WLK) opened at $98.54 on Friday. The stock has a market capitalization of $12,643.49, a PE ratio of 19.63, a PEG ratio of 1.77 and a beta of 1.71. The company has a quick ratio of 1.59, a current ratio of 2.31 and a debt-to-equity ratio of 0.74. Westlake Chemical Co. has a fifty-two week low of $55.83 and a fifty-two week high of $99.40.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Monday, November 27th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, November 24th. This represents a $0.84 annualized dividend and a dividend yield of 0.85%. Westlake Chemical’s dividend payout ratio (DPR) is presently 18.26%.

Several research firms have weighed in on WLK. Royal Bank Of Canada reiterated an “outperform” rating and set a $114.00 price target (up previously from $103.00) on shares of Westlake Chemical in a research note on Thursday, November 9th. Alembic Global Advisors reiterated a “buy” rating on shares of Westlake Chemical in a research note on Friday, November 24th. J P Morgan Chase & Co reiterated a “buy” rating and set a $104.00 price target on shares of Westlake Chemical in a research note on Friday, November 24th. ValuEngine downgraded Westlake Chemical from a “buy” rating to a “hold” rating in a research note on Tuesday, November 21st. Finally, Bank of America boosted their price target on Westlake Chemical from $88.00 to $94.00 and gave the company a “neutral” rating in a research note on Wednesday, November 8th. One analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $96.45.

Several hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP acquired a new position in shares of Westlake Chemical in the 3rd quarter valued at about $326,000. Tortoise Capital Advisors L.L.C. lifted its holdings in shares of Westlake Chemical by 6,376.2% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 1,360 shares of the specialty chemicals company’s stock valued at $113,000 after buying an additional 1,339 shares during the period. California Public Employees Retirement System lifted its holdings in shares of Westlake Chemical by 1.6% in the 3rd quarter. California Public Employees Retirement System now owns 115,384 shares of the specialty chemicals company’s stock valued at $9,587,000 after buying an additional 1,784 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Westlake Chemical by 2,024.0% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,779 shares of the specialty chemicals company’s stock valued at $397,000 after buying an additional 4,554 shares during the period. Finally, Highbridge Capital Management LLC lifted its holdings in shares of Westlake Chemical by 60.7% in the 3rd quarter. Highbridge Capital Management LLC now owns 198,511 shares of the specialty chemicals company’s stock valued at $16,494,000 after buying an additional 75,000 shares during the period. 30.42% of the stock is owned by institutional investors and hedge funds.

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Westlake Chemical 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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