Westlake Chemical Co. (WLK) Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC boosted its stake in shares of Westlake Chemical Co. (NYSE:WLK) by 27.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,649 shares of the specialty chemicals company’s stock after acquiring an additional 1,844 shares during the period. SG Americas Securities LLC’s holdings in Westlake Chemical were worth $719,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of WLK. Janus Henderson Group PLC purchased a new position in Westlake Chemical during the second quarter valued at $90,442,000. Bank of New York Mellon Corp grew its stake in shares of Westlake Chemical by 218.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 934,937 shares of the specialty chemicals company’s stock worth $77,683,000 after buying an additional 641,432 shares in the last quarter. Balyasny Asset Management LLC grew its stake in shares of Westlake Chemical by 293.5% in the 2nd quarter. Balyasny Asset Management LLC now owns 623,929 shares of the specialty chemicals company’s stock worth $41,310,000 after buying an additional 465,365 shares in the last quarter. FMR LLC grew its stake in shares of Westlake Chemical by 15.0% in the 2nd quarter. FMR LLC now owns 2,808,967 shares of the specialty chemicals company’s stock worth $185,981,000 after buying an additional 366,537 shares in the last quarter. Finally, Gotham Asset Management LLC purchased a new position in shares of Westlake Chemical in the 2nd quarter worth $17,385,000. 30.42% of the stock is owned by institutional investors.

In related news, CFO Mark Steven Bender sold 6,500 shares of Westlake Chemical stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $97.83, for a total transaction of $635,895.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert F. Buesinger sold 2,674 shares of Westlake Chemical stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $98.50, for a total transaction of $263,389.00. Following the transaction, the executive vice president now directly owns 6,635 shares of the company’s stock, valued at $653,547.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 293,122 shares of company stock valued at $27,721,443. 71.70% of the stock is owned by corporate insiders.

Westlake Chemical Co. (WLK) traded down $0.72 during mid-day trading on Thursday, hitting $97.69. 1,001,800 shares of the company were exchanged, compared to its average volume of 859,914. Westlake Chemical Co. has a 52-week low of $55.83 and a 52-week high of $99.71. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.59 and a current ratio of 2.31. The stock has a market cap of $12,705.46, a PE ratio of 19.72, a PEG ratio of 1.78 and a beta of 1.71.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Monday, November 27th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, November 24th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.86%. Westlake Chemical’s dividend payout ratio is presently 18.26%.

A number of equities analysts have commented on WLK shares. Royal Bank Of Canada reissued an “outperform” rating and issued a $114.00 price objective (up from $103.00) on shares of Westlake Chemical in a research note on Thursday, November 9th. Nomura raised shares of Westlake Chemical from a “neutral” rating to a “buy” rating and set a $98.00 price objective for the company in a research note on Tuesday, September 26th. UBS reissued a “sell” rating and issued a $61.00 price objective on shares of Westlake Chemical in a research note on Wednesday, November 8th. Zacks Investment Research cut shares of Westlake Chemical from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Finally, Cowen lifted their price objective on shares of Westlake Chemical from $78.00 to $92.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $98.09.

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Westlake Chemical 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.

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

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