Arizona State Retirement System Invests $798,000 in Westlake Corporation $WLK

Key Points

• Arizona State Retirement System opened a new position in Westlake (NYSE:WLK), buying 10,794 shares in Q4 valued at about $798,000, while institutional investors own roughly 28.4% of the stock.
• Westlake reported Q4 EPS of ($0.25) (beating the ($1.47) estimate) with revenue of $2.53 billion, down 10.9% year‑over‑year, and the company remains unprofitable with a negative net margin of 13.5%.
• CFO Mark Steven Bender sold 17,409 shares for about $1.76 million, cutting his stake by 28.15%, and analysts hold a consensus "Hold" rating with an average price target of $113.20.

Arizona State Retirement System acquired a new position in shares of Westlake Corporation (NYSE:WLK - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 10,794 shares of the specialty chemicals company's stock, valued at approximately $798,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company increased its holdings in shares of Westlake by 0.6% during the 2nd 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. Journey Advisory Group LLC increased its holdings in Westlake by 0.5% in the 3rd quarter. Journey Advisory Group LLC now owns 45,072 shares of the specialty chemicals company's stock valued at $3,473,000 after purchasing an additional 230 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Westlake by 49.6% in the 2nd quarter. NewEdge Advisors LLC now owns 745 shares of the specialty chemicals company's stock valued at $57,000 after purchasing an additional 247 shares in the last quarter. Treasurer of the State of North Carolina increased its holdings in Westlake by 1.7% in the 2nd quarter. Treasurer of the State of North Carolina now owns 15,608 shares of the specialty chemicals company's stock valued at $1,185,000 after purchasing an additional 266 shares in the last quarter. Finally, Parallel Advisors LLC increased its holdings in Westlake by 58.1% in the 3rd quarter. Parallel Advisors LLC now owns 778 shares of the specialty chemicals company's stock valued at $60,000 after purchasing an additional 286 shares in the last quarter. 28.40% of the stock is currently owned by institutional investors and hedge funds.

Westlake Stock Performance

Shares of WLK stock opened at $114.66 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.65 and a current ratio of 2.24. Westlake Corporation has a one year low of $56.33 and a one year high of $124.23. The company's 50-day simple moving average is $111.45 and its 200-day simple moving average is $88.93. The stock has a market capitalization of $14.69 billion, a price-to-earnings ratio of -9.80 and a beta of 0.67.

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

Westlake Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Tuesday, March 3rd were issued a $0.53 dividend. The ex-dividend date of this dividend was Tuesday, March 3rd. This represents a $2.12 dividend on an annualized basis and a yield of 1.8%. Westlake's dividend payout ratio (DPR) is currently -18.12%.

Insider Transactions at Westlake

In other Westlake news, CFO Mark Steven Bender sold 17,409 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $4,484,178.36. This trade represents a 28.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on WLK shares. Bank of America reiterated a "neutral" rating and issued a $119.00 price target on shares of Westlake in a report on Monday, April 6th. Mizuho increased their price target on Westlake from $97.00 to $110.00 and gave the company a "neutral" rating in a report on Monday, March 23rd. Weiss Ratings reiterated a "sell (d)" rating on shares of Westlake in a report on Monday, April 20th. Wall Street Zen downgraded Westlake from a "hold" rating to a "sell" rating in a report on Sunday. Finally, Zacks Research upgraded Westlake from a "strong sell" rating to a "hold" rating in a report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $113.20.

Westlake Profile

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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