Fractal Investments LLC Purchases New Holdings in Westlake Chemical Partners LP (NYSE:WLKP)

Fractal Investments LLC acquired a new position in Westlake Chemical Partners LP (NYSE:WLKP - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 80,400 shares of the basic materials company's stock, valued at approximately $1,856,000. Westlake Chemical Partners makes up 0.3% of Fractal Investments LLC's holdings, making the stock its 20th largest holding. Fractal Investments LLC owned approximately 0.23% of Westlake Chemical Partners at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of WLKP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Westlake Chemical Partners by 5.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 558,919 shares of the basic materials company's stock worth $12,933,000 after acquiring an additional 28,430 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Westlake Chemical Partners during the fourth quarter valued at $456,000. U.S. Capital Wealth Advisors LLC purchased a new position in shares of Westlake Chemical Partners during the first quarter valued at $231,000. GeoWealth Management LLC purchased a new position in shares of Westlake Chemical Partners during the fourth quarter valued at $175,000. Finally, LPL Financial LLC grew its holdings in shares of Westlake Chemical Partners by 13.8% during the fourth quarter. LPL Financial LLC now owns 35,136 shares of the basic materials company's stock valued at $813,000 after buying an additional 4,253 shares in the last quarter. Institutional investors own 78.28% of the company's stock.

Insider Transactions at Westlake Chemical Partners

In other Westlake Chemical Partners news, Chairman James Chao sold 3,700 shares of the business's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $22.10, for a total value of $81,770.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 13,908 shares of company stock worth $307,759 over the last ninety days. 1.10% of the stock is currently owned by company insiders.

Westlake Chemical Partners Stock Down 1.2%

Shares of WLKP stock traded down $0.28 on Thursday, reaching $22.04. 28,680 shares of the company's stock traded hands, compared to its average volume of 34,365. Westlake Chemical Partners LP has a 12-month low of $21.19 and a 12-month high of $25.04. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.35 and a current ratio of 1.37. The company has a market capitalization of $776.51 million, a P/E ratio of 14.79 and a beta of 0.77. The business's 50 day moving average price is $22.23 and its two-hundred day moving average price is $23.08.

Westlake Chemical Partners (NYSE:WLKP - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.24). The firm had revenue of $237.63 million for the quarter, compared to analyst estimates of $296.00 million. Westlake Chemical Partners had a net margin of 4.82% and a return on equity of 6.35%. On average, equities analysts forecast that Westlake Chemical Partners LP will post 1.55 earnings per share for the current year.

Westlake Chemical Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Tuesday, May 13th were given a dividend of $0.4714 per share. The ex-dividend date was Tuesday, May 13th. This represents a $1.89 dividend on an annualized basis and a yield of 8.56%. Westlake Chemical Partners's payout ratio is 126.85%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded Westlake Chemical Partners from a "strong-buy" rating to a "buy" rating in a report on Monday, May 5th.

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.