Twin Capital Management Inc. Sells 344 Shares of Westlake Co. (NYSE:WLK)

Twin Capital Management Inc. reduced its holdings in shares of Westlake Co. (NYSE:WLK) by 2.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 13,504 shares of the specialty chemicals company’s stock after selling 344 shares during the period. Twin Capital Management Inc.’s holdings in Westlake were worth $1,890,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of WLK. First Trust Advisors LP lifted its stake in shares of Westlake by 189.0% during the 1st quarter. First Trust Advisors LP now owns 802,507 shares of the specialty chemicals company’s stock worth $99,029,000 after acquiring an additional 524,828 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Westlake by 959.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 554,086 shares of the specialty chemicals company’s stock worth $4,866,000 after acquiring an additional 501,774 shares during the last quarter. Balyasny Asset Management L.P. lifted its stake in shares of Westlake by 420.1% during the 1st quarter. Balyasny Asset Management L.P. now owns 610,892 shares of the specialty chemicals company’s stock worth $70,851,000 after acquiring an additional 493,432 shares during the last quarter. Norges Bank bought a new stake in shares of Westlake during the 4th quarter worth approximately $31,719,000. Finally, Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Westlake during the 1st quarter worth approximately $30,261,000. 28.40% of the stock is owned by institutional investors.

Insider Activity at Westlake

In related news, CFO Mark Steven Bender sold 4,854 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $137.57, for a total value of $667,764.78. Following the transaction, the chief financial officer now owns 50,110 shares in the company, valued at approximately $6,893,632.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Robert F. Buesinger sold 3,878 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $144.50, for a total transaction of $560,371.00. Following the sale, the executive vice president now owns 21,144 shares of the company’s stock, valued at approximately $3,055,308. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark Steven Bender sold 4,854 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $137.57, for a total value of $667,764.78. Following the sale, the chief financial officer now directly owns 50,110 shares in the company, valued at approximately $6,893,632.70. The disclosure for this sale can be found here. Insiders have sold 13,658 shares of company stock worth $1,923,225 in the last quarter. Company insiders own 74.10% of the company’s stock.

Westlake Stock Up 0.2 %

Westlake stock opened at $148.95 on Friday. Westlake Co. has a 1-year low of $103.28 and a 1-year high of $162.64. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.37 and a quick ratio of 1.79. The stock has a market cap of $19.10 billion, a PE ratio of 40.26, a P/E/G ratio of 1.44 and a beta of 1.30. The stock’s fifty day moving average is $146.44 and its two-hundred day moving average is $136.09.

Westlake (NYSE:WLK) last posted its quarterly earnings results on Tuesday, February 20th. The specialty chemicals company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.09). Westlake had a net margin of 3.82% and a return on equity of 9.70%. The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same quarter in the prior year, the business earned $1.79 earnings per share. The firm’s quarterly revenue was down 14.3% on a year-over-year basis. On average, sell-side analysts expect that Westlake Co. will post 6.93 EPS for the current fiscal year.

Westlake Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Wednesday, February 28th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend was Tuesday, February 27th. Westlake’s dividend payout ratio (DPR) is presently 54.05%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on WLK shares. Wells Fargo & Company lifted their target price on Westlake from $150.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday, April 3rd. Royal Bank of Canada decreased their target price on Westlake from $139.00 to $134.00 and set a “sector perform” rating for the company in a research report on Monday, February 26th. Bank of America raised Westlake from a “hold” rating to a “buy” rating and lifted their target price for the company from $138.00 to $174.00 in a research report on Thursday. Barclays lifted their target price on Westlake from $142.00 to $160.00 and gave the company an “equal weight” rating in a research report on Thursday, April 4th. Finally, UBS Group lifted their target price on Westlake from $139.00 to $145.00 and gave the company a “neutral” rating in a research report on Thursday, January 11th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $144.43.

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.