Fractal Investments LLC Makes New $1.86 Million Investment in Westlake Chemical Partners LP (NYSE:WLKP)

Fractal Investments LLC acquired a new position in shares of 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 Securities & Exchange Commission. The firm acquired 80,400 shares of the basic materials company's stock, valued at approximately $1,856,000. Westlake Chemical Partners makes up approximately 0.3% of Fractal Investments LLC's investment portfolio, making the stock its 20th biggest position. Fractal Investments LLC owned approximately 0.23% of Westlake Chemical Partners as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Apollon Wealth Management LLC raised its holdings in Westlake Chemical Partners by 7.3% during the first quarter. Apollon Wealth Management LLC now owns 16,547 shares of the basic materials company's stock worth $382,000 after purchasing an additional 1,126 shares in the last quarter. Eagle Global Advisors LLC raised its holdings in Westlake Chemical Partners by 4.6% during the fourth quarter. Eagle Global Advisors LLC now owns 45,873 shares of the basic materials company's stock worth $1,062,000 after purchasing an additional 2,000 shares in the last quarter. Samalin Investment Counsel LLC increased its holdings in shares of Westlake Chemical Partners by 10.6% in the 4th quarter. Samalin Investment Counsel LLC now owns 24,287 shares of the basic materials company's stock valued at $562,000 after acquiring an additional 2,327 shares during the period. LPL Financial LLC increased its holdings in shares of Westlake Chemical Partners by 13.8% in the 4th quarter. LPL Financial LLC now owns 35,136 shares of the basic materials company's stock valued at $813,000 after acquiring an additional 4,253 shares during the period. Finally, GeoWealth Management LLC acquired a new position in shares of Westlake Chemical Partners in the 4th quarter valued at $175,000. Institutional investors and hedge funds own 78.28% of the company's stock.

Westlake Chemical Partners Stock Performance

Shares of Westlake Chemical Partners stock traded up $0.01 during trading on Friday, reaching $22.03. The company's stock had a trading volume of 14,716 shares, compared to its average volume of 34,219. The company has a 50-day moving average price of $22.22 and a two-hundred day moving average price of $23.07. The firm has a market cap of $776.14 million, a PE ratio of 14.78 and a beta of 0.77. Westlake Chemical Partners LP has a fifty-two week low of $21.19 and a fifty-two week high of $25.04. The company has a current ratio of 1.37, a quick ratio of 1.35 and a debt-to-equity ratio of 0.50.

Westlake Chemical Partners (NYSE:WLKP - Get Free Report) last announced its earnings results on Friday, May 2nd. The basic materials company reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.24). The business had revenue of $237.63 million during 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, analysts forecast that Westlake Chemical Partners LP will post 1.55 EPS for the current year.

Westlake Chemical Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Tuesday, May 13th were paid a $0.4714 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $1.89 annualized dividend and a yield of 8.56%. Westlake Chemical Partners's dividend payout ratio is currently 126.17%.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Westlake Chemical Partners

In other Westlake Chemical Partners news, Chairman James Chao sold 5,608 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $22.17, for a total value of $124,329.36. Following the transaction, the chairman directly owned 8,300 shares of the company's stock, valued at approximately $184,011. The trade was a 40.32% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 13,908 shares of company stock valued at $307,759. Insiders own 1.10% of the company's stock.

Westlake Chemical Partners Profile

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.