Westlake Co. (NYSE:WLK) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Westlake Co. (NYSE:WLK) have received an average rating of “Moderate Buy” from the twelve analysts that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $156.92.

Several brokerages have recently commented on WLK. Barclays upgraded Westlake from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $162.00 to $180.00 in a report on Monday, September 30th. Royal Bank of Canada dropped their target price on shares of Westlake from $170.00 to $167.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. Bank of America raised shares of Westlake from an “underperform” rating to a “neutral” rating and raised their price target for the company from $151.00 to $159.00 in a report on Wednesday, October 16th. Piper Sandler reduced their price objective on Westlake from $155.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, BMO Capital Markets lowered their target price on Westlake from $171.00 to $165.00 and set a “market perform” rating for the company in a research note on Wednesday, November 13th.

Westlake Trading Down 1.0 %

Shares of Westlake stock opened at $110.52 on Thursday. Westlake has a 12-month low of $108.95 and a 12-month high of $162.64. The stock has a market capitalization of $14.22 billion, a P/E ratio of 155.66, a price-to-earnings-growth ratio of 2.31 and a beta of 1.18. The company has a 50-day simple moving average of $123.50 and a 200 day simple moving average of $136.39. The company has a quick ratio of 2.04, a current ratio of 2.79 and a debt-to-equity ratio of 0.41.

Westlake (NYSE:WLK) last posted its earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.80). The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.31 billion. Westlake had a net margin of 0.81% and a return on equity of 6.93%. The business’s revenue was up .1% on a year-over-year basis. During the same quarter last year, the firm posted $2.20 EPS. Research analysts expect that Westlake will post 6.47 earnings per share for the current fiscal year.

Westlake Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 26th were paid a $0.525 dividend. The ex-dividend date of this dividend was Tuesday, November 26th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.90%. Westlake’s dividend payout ratio (DPR) is presently 295.77%.

Insider Activity at Westlake

In related news, Director David Tsung-Hung Chao sold 1,750 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $129.08, for a total transaction of $225,890.00. Following the sale, the director now owns 7,784 shares of the company’s stock, valued at approximately $1,004,758.72. This trade represents a 18.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 74.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Westlake

Several large investors have recently modified their holdings of WLK. Oliver Luxxe Assets LLC grew its position in shares of Westlake by 4.0% in the 4th quarter. Oliver Luxxe Assets LLC now owns 13,272 shares of the specialty chemicals company’s stock valued at $1,522,000 after purchasing an additional 510 shares during the period. GAMMA Investing LLC lifted its stake in Westlake by 72.0% in the fourth quarter. GAMMA Investing LLC now owns 523 shares of the specialty chemicals company’s stock valued at $60,000 after buying an additional 219 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Westlake by 84.4% during the fourth quarter. Versant Capital Management Inc now owns 531 shares of the specialty chemicals company’s stock worth $61,000 after acquiring an additional 243 shares in the last quarter. Retirement Systems of Alabama raised its holdings in shares of Westlake by 2.4% during the third quarter. Retirement Systems of Alabama now owns 40,613 shares of the specialty chemicals company’s stock worth $6,104,000 after acquiring an additional 940 shares during the period. Finally, Toronto Dominion Bank lifted its position in Westlake by 31.7% in the 3rd quarter. Toronto Dominion Bank now owns 4,855 shares of the specialty chemicals company’s stock valued at $730,000 after acquiring an additional 1,169 shares in the last quarter. 28.40% of the stock is currently owned by institutional investors.

About Westlake

Westlake Corporation engages in the manufacture and marketing of performance and essential materials, and housing and infrastructure products in the United States, Canada, Germany, China, Mexico, Brazil, France, Italy, Taiwan, and internationally. The company operates through two segments: Performance and Essential Materials and Housing and Infrastructure Products.