Westlake Chemical Partners LP (NYSE:WLKP) SVP Purchases $221,000.00 in Stock

Westlake Chemical Partners LP (NYSE:WLKP) SVP Andrew Kenner bought 10,000 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were acquired at an average price of $22.10 per share, with a total value of $221,000.00. Following the completion of the purchase, the senior vice president now directly owns 160,839 shares of the company’s stock, valued at $3,554,541.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Andrew Kenner also recently made the following trade(s):

• On Thursday, March 28th, Andrew Kenner acquired 5,000 shares of Westlake Chemical Partners stock. The shares were acquired at an average price of $22.23 per share, with a total value of $111,150.00.
• On Thursday, March 21st, Andrew Kenner bought 4,230 shares of Westlake Chemical Partners stock. The stock was bought at an average cost of $22.16 per share, with a total value of $93,736.80.
• On Wednesday, March 6th, Andrew Kenner acquired 5,000 shares of Westlake Chemical Partners stock. The shares were bought at an average price of $22.30 per share, with a total value of $111,500.00.
• On Thursday, February 22nd, Andrew Kenner bought 10,000 shares of Westlake Chemical Partners stock. The stock was bought at an average price of $22.12 per share, for a total transaction of $221,200.00.

Westlake Chemical Partners Trading Up 2.6 %

NYSE WLKP traded up $0.57 during trading hours on Friday, reaching $22.20. The company’s stock had a trading volume of 521,537 shares, compared to its average volume of 61,260. Westlake Chemical Partners LP has a 52 week low of $20.86 and a 52 week high of $23.68. The company has a debt-to-equity ratio of 0.47, a current ratio of 5.21 and a quick ratio of 5.09. The stock has a market cap of $782.06 million, a P/E ratio of 14.35 and a beta of 1.08. The firm has a fifty day simple moving average of $22.19 and a 200-day simple moving average of $22.16.

Westlake Chemical Partners (NYSE:WLKP) last issued its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The business had revenue of $284.67 million for the quarter, compared to analyst estimates of $280.76 million. Westlake Chemical Partners had a return on equity of 6.32% and a net margin of 4.64%. During the same quarter last year, the firm posted $0.42 EPS. Equities analysts forecast that Westlake Chemical Partners LP will post 1.7 earnings per share for the current fiscal year.

Westlake Chemical Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Monday, May 13th will be paid a $0.4714 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.89 annualized dividend and a dividend yield of 8.49%. Westlake Chemical Partners’s payout ratio is 122.08%.

Hedge Funds Weigh In On Westlake Chemical Partners

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC bought a new position in Westlake Chemical Partners during the 4th quarter worth approximately $27,000. Future Financial Wealth Managment LLC acquired a new position in Westlake Chemical Partners in the first quarter valued at $78,000. Samalin Investment Counsel LLC bought a new stake in Westlake Chemical Partners during the third quarter valued at $218,000. Kovack Advisors Inc. acquired a new stake in Westlake Chemical Partners during the 4th quarter worth about $261,000. Finally, Apollon Wealth Management LLC raised its position in shares of Westlake Chemical Partners by 14.0% in the 4th quarter. Apollon Wealth Management LLC now owns 12,294 shares of the basic materials company’s stock worth $266,000 after acquiring an additional 1,513 shares in the last quarter. 78.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com raised Westlake Chemical Partners from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 26th.

About Westlake Chemical Partners

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.