23,330 Shares in Westlake Corporation $WLK Purchased by AMG National Trust Bank

Key Points

• AMG National Trust Bank opened a new position in Westlake (NYSE:WLK) in Q4, purchasing 23,330 shares valued at about $1.725 million per the firm's 13F filing.
• CFO Mark Steven Bender sold 17,409 shares on Feb. 27 at an average $100.92 (~$1.76 million), reducing his stake by 28.15%; insiders now own about 1.40% of the stock.
• Westlake reported Q results with a ($0.25) EPS that beat the ($1.47) consensus by $1.22 while revenue fell 10.9% YoY to $2.53 billion, and analysts maintain a consensus "Hold" rating with an average target of $110.19.

AMG National Trust Bank acquired a new position in shares of Westlake Corporation (NYSE:WLK - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 23,330 shares of the specialty chemicals company's stock, valued at approximately $1,725,000.

A number of other large investors have also added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its holdings in Westlake by 0.6% during the second quarter. The Manufacturers Life Insurance Company now owns 28,134 shares of the specialty chemicals company's stock worth $2,136,000 after buying an additional 165 shares during the last quarter. Comerica Bank increased its holdings in Westlake by 0.8% during the fourth quarter. Comerica Bank now owns 28,483 shares of the specialty chemicals company's stock worth $2,106,000 after buying an additional 221 shares during the last quarter. Journey Advisory Group LLC increased its holdings in Westlake by 0.5% during the third quarter. Journey Advisory Group LLC now owns 45,072 shares of the specialty chemicals company's stock worth $3,473,000 after buying an additional 230 shares during the last quarter. NewEdge Advisors LLC boosted its position in Westlake by 49.6% during the second quarter. NewEdge Advisors LLC now owns 745 shares of the specialty chemicals company's stock worth $57,000 after purchasing an additional 247 shares during the period. Finally, Treasurer of the State of North Carolina boosted its position in Westlake by 1.7% during the second quarter. Treasurer of the State of North Carolina now owns 15,608 shares of the specialty chemicals company's stock worth $1,185,000 after purchasing an additional 266 shares during the period. Hedge funds and other institutional investors own 28.40% of the company's stock.

Insider Buying and Selling at Westlake

In other news, CFO Mark Steven Bender sold 17,409 shares of the stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $100.92, for a total value of $1,756,916.28. Following the transaction, the chief financial officer owned 44,433 shares in the company, valued at $4,484,178.36. This represents a 28.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.40% of the stock is owned by company insiders.

Westlake Stock Performance

Shares of Westlake stock opened at $110.50 on Wednesday. The stock has a market cap of $14.15 billion, a price-to-earnings ratio of -9.44 and a beta of 0.75. The firm's 50-day moving average is $110.80 and its 200 day moving average is $88.43. Westlake Corporation has a 1 year low of $56.33 and a 1 year high of $124.23. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.24 and a quick ratio of 1.65.

Westlake (NYSE:WLK - Get Free Report) last posted its earnings results on Tuesday, February 24th. The specialty chemicals company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.47) by $1.22. The business had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.61 billion. Westlake had a negative net margin of 13.50% and a negative return on equity of 1.22%. The business's revenue for the quarter was down 10.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.06 EPS. Sell-side analysts anticipate that Westlake Corporation will post 1.9 EPS for the current fiscal year.

Westlake Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Tuesday, March 3rd were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Tuesday, March 3rd. Westlake's dividend payout ratio is -18.12%.

Analyst Ratings Changes

A number of research firms have recently commented on WLK. Bank of America restated a "neutral" rating and issued a $119.00 price objective on shares of Westlake in a research report on Monday, April 6th. Wells Fargo & Company boosted their price objective on shares of Westlake from $110.00 to $125.00 and gave the stock an "equal weight" rating in a report on Monday, April 6th. BMO Capital Markets upgraded shares of Westlake from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $108.00 to $127.00 in a report on Thursday, March 5th. Zacks Research raised shares of Westlake from a "strong sell" rating to a "hold" rating in a research note on Thursday, February 26th. Finally, Wall Street Zen raised shares of Westlake from a "sell" rating to a "hold" rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $110.19.

About Westlake

Westlake Corp. is a global manufacturer of petrochemicals, polymers and building products, serving customers across industrial and residential markets. The company's core operations encompass the production of vinyls—primarily polyvinyl chloride (PVC) and its key feedstock vinyl chloride monomer (VCM)—as well as chlor-alkali products including caustic soda and chlorine. In addition, Westlake produces ethylene, propylene and specialty elastomers, along with construction-related materials such as vinyl siding, trim, windows and roofing systems.

Operating a network of vertically integrated plants and distribution centers, Westlake serves markets in North America, Europe and Asia.

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