Westlake Co. (NYSE:WLK) Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP boosted its stake in Westlake Co. (NYSE:WLK) by 10.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,317 shares of the specialty chemicals company’s stock after buying an additional 6,392 shares during the period. Quantinno Capital Management LP owned 0.05% of Westlake worth $9,967,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans grew its holdings in Westlake by 1.1% during the third quarter. Thrivent Financial for Lutherans now owns 7,855 shares of the specialty chemicals company’s stock worth $1,181,000 after acquiring an additional 89 shares during the period. Oppenheimer & Co. Inc. increased its stake in Westlake by 3.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 2,624 shares of the specialty chemicals company’s stock worth $394,000 after purchasing an additional 97 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in Westlake by 3.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 2,724 shares of the specialty chemicals company’s stock valued at $394,000 after acquiring an additional 100 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in Westlake by 3.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 3,518 shares of the specialty chemicals company’s stock valued at $532,000 after acquiring an additional 116 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in Westlake by 4.1% during the 3rd quarter. CIBC Asset Management Inc now owns 3,911 shares of the specialty chemicals company’s stock valued at $588,000 after acquiring an additional 153 shares in the last quarter. 28.40% of the stock is owned by institutional investors and hedge funds.

Westlake Stock Performance

Shares of Westlake stock opened at $123.54 on Friday. The company has a market cap of $15.90 billion, a PE ratio of 174.00, a price-to-earnings-growth ratio of 2.43 and a beta of 1.16. The company has a quick ratio of 2.04, a current ratio of 2.79 and a debt-to-equity ratio of 0.41. The business has a 50 day moving average price of $135.19 and a 200-day moving average price of $142.79. Westlake Co. has a 52 week low of $118.64 and a 52 week high of $162.64.

Westlake (NYSE:WLK) last announced its quarterly earnings data on Tuesday, November 5th. The specialty chemicals company reported $1.41 earnings per share for the quarter, missing the consensus estimate of $2.21 by ($0.80). The firm had revenue of $3.12 billion for 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%. Westlake’s revenue for the quarter was up .1% on a year-over-year basis. During the same period last year, the company posted $2.20 earnings per share. Equities analysts anticipate that Westlake Co. will post 6.47 earnings per share for the current fiscal year.

Westlake Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 26th will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $2.10 dividend on an annualized basis and a yield of 1.70%. Westlake’s payout ratio is 295.77%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WLK. Piper Sandler reduced their target price on Westlake from $180.00 to $170.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. UBS Group lowered their price target on Westlake from $160.00 to $144.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. BMO Capital Markets decreased their target price on Westlake from $171.00 to $165.00 and set a “market perform” rating on the stock in a report on Wednesday, November 13th. Royal Bank of Canada cut their price target on Westlake from $170.00 to $167.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Finally, Wells Fargo & Company cut their target price on Westlake from $180.00 to $160.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $162.17.

Insider Buying and Selling at Westlake

In related news, Director David Tsung-Hung Chao sold 1,750 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $129.08, for a total value of $225,890.00. Following the sale, the director now directly owns 7,784 shares of the company’s stock, valued at $1,004,758.72. This trade represents a 18.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 74.10% of the company’s stock.

Westlake Company Profile

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.