Westlake Chemical Partners LP (NYSE:WLKP) Shares Acquired by Hilltop Holdings Inc.

Hilltop Holdings Inc. lifted its position in Westlake Chemical Partners LP (NYSE:WLKP) by 2.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,216 shares of the basic materials company’s stock after acquiring an additional 711 shares during the period. Hilltop Holdings Inc.’s holdings in Westlake Chemical Partners were worth $610,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in WLKP. Glenmede Trust Co. NA grew its holdings in Westlake Chemical Partners by 22.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 55,478 shares of the basic materials company’s stock valued at $1,243,000 after buying an additional 10,000 shares in the last quarter. Apollon Wealth Management LLC grew its holdings in shares of Westlake Chemical Partners by 7.5% in the third quarter. Apollon Wealth Management LLC now owns 14,909 shares of the basic materials company’s stock valued at $334,000 after purchasing an additional 1,041 shares during the period. Pathway Financial Advisers LLC increased its position in Westlake Chemical Partners by 2,178.0% during the third quarter. Pathway Financial Advisers LLC now owns 2,230,436 shares of the basic materials company’s stock worth $49,984,000 after purchasing an additional 2,132,523 shares during the last quarter. International Assets Investment Management LLC raised its stake in Westlake Chemical Partners by 2,141.0% during the third quarter. International Assets Investment Management LLC now owns 32,763 shares of the basic materials company’s stock worth $734,000 after purchasing an additional 31,301 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new position in Westlake Chemical Partners in the 3rd quarter valued at about $78,000. 78.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Barclays raised shares of Westlake Chemical Partners to a “strong-buy” rating in a research report on Monday, August 12th.

Westlake Chemical Partners Stock Performance

Shares of Westlake Chemical Partners stock opened at $24.01 on Friday. The business’s fifty day simple moving average is $22.74 and its 200-day simple moving average is $22.69. The company has a quick ratio of 4.46, a current ratio of 4.53 and a debt-to-equity ratio of 0.48. The firm has a market cap of $846.11 million, a PE ratio of 13.72 and a beta of 1.11. Westlake Chemical Partners LP has a 52 week low of $21.19 and a 52 week high of $24.34.

Westlake Chemical Partners (NYSE:WLKP) last posted its earnings results on Tuesday, November 5th. The basic materials company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.15. The firm had revenue of $277.00 million during the quarter, compared to the consensus estimate of $244.16 million. Westlake Chemical Partners had a net margin of 5.40% and a return on equity of 7.31%. During the same quarter last year, the firm earned $0.37 EPS. Equities analysts forecast that Westlake Chemical Partners LP will post 1.55 earnings per share for the current year.

Westlake Chemical Partners Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 12th were paid a dividend of $0.471 per share. This represents a $1.88 annualized dividend and a yield of 7.85%. The ex-dividend date was Tuesday, November 12th. Westlake Chemical Partners’s payout ratio is currently 108.00%.

Westlake Chemical Partners Profile

Westlake Chemical Partners LP acquires, develops, and operates ethylene production facilities and related assets in the United States. The company’s ethylene production facilities primarily convert ethane into ethylene. It also sells ethylene co-products, such as propylene, crude butadiene, pyrolysis gasoline, and hydrogen directly to third parties on either a spot or contract basis.