BlackRock Inc. bought a new position in Westlake Corporation (NYSE:WLK - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,294,162 shares of the specialty chemicals company's stock, valued at approximately $240,474,000. BlackRock Inc. owned about 2.57% of Westlake as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also modified their holdings of the stock. State of Michigan Retirement System increased its holdings in Westlake by 1.3% in the first quarter. State of Michigan Retirement System now owns 8,000 shares of the specialty chemicals company's stock valued at $935,000 after buying an additional 100 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in Westlake by 2.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,108 shares of the specialty chemicals company's stock worth $304,000 after buying an additional 117 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Westlake by 0.6% in 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 acquiring an additional 165 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Westlake by 14.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,522 shares of the specialty chemicals company's stock valued at $178,000 after acquiring an additional 187 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in shares of Westlake by 3.0% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 6,868 shares of the specialty chemicals company's stock valued at $802,000 after acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds own 28.40% of the company's stock.
Insiders Place Their Bets
In other news, Chairman Albert Chao sold 38,873 shares of Westlake stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $80.28, for a total transaction of $3,120,724.44. Following the transaction, the chairman directly owned 642,880 shares in the company, valued at approximately $51,610,406.40. This trade represents a 5.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is owned by company insiders.
Westlake Trading Down 0.5%
Shares of WLK stock opened at $74.46 on Thursday. Westlake Corporation has a 1 year low of $56.33 and a 1 year high of $124.23. The firm has a market capitalization of $9.52 billion, a PE ratio of -7.77 and a beta of 0.63. The stock has a fifty day moving average of $76.30 and a two-hundred day moving average of $93.22. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.70 and a current ratio of 2.45.
Westlake (NYSE:WLK - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The specialty chemicals company reported $2.01 EPS for the quarter, beating analysts' consensus estimates of $1.83 by $0.18. The company had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.24 billion. Westlake had a positive return on equity of 0.93% and a negative net margin of 10.94%.The company's quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company earned ($1.11) earnings per share. As a group, research analysts expect that Westlake Corporation will post 3.35 EPS for the current year.
Westlake Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Tuesday, August 25th will be paid a dividend of $0.533 per share. This is a boost from Westlake's previous quarterly dividend of $0.53. This represents a $2.13 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Tuesday, August 25th. Westlake's dividend payout ratio (DPR) is -22.23%.
Key Stories Impacting Westlake
Here are the key news stories impacting Westlake this week:
- Positive Sentiment: Zacks raised its EPS forecasts for Q1 2027 to $0.50 from $0.43, Q2 2027 to $0.99 from $0.66, Q4 2027 to $0.56 from $0.14, and full-year 2027 to $2.40 from $1.96. The firm also increased its Q2 2028 estimate to $0.65 from $0.35. These revisions suggest some expected improvement in portions of Westlake’s specialty-chemicals business. Westlake analyst estimates
- Positive Sentiment: Recent coverage highlighted Westlake’s stronger quarterly results: the company reported adjusted EPS of $2.01, exceeding the $1.83 consensus estimate, while revenue of $3.27 billion also topped expectations and increased 10.8% year over year. Why Is Westlake in Focus After Stronger Results?
- Neutral Sentiment: Analysts collectively rate Westlake at “Hold,” indicating that improving results are offset by concerns about the broader earnings outlook. Westlake Receives Consensus Hold Recommendation
- Negative Sentiment: Zacks cut its Q3 2027 EPS forecast to $0.34 from $0.73, Q1 2028 to a loss of $0.37 from a loss of $0.02, and FY2028 to $1.60 from $2.00. Its FY2026 estimate of $2.78 is also below the broader full-year consensus of $3.43, reinforcing concerns about profitability.
- Negative Sentiment: Westlake’s valuation backdrop remains challenging: the company recently reported a negative net margin, and its shares remain well below their 200-day moving average. The combination of a “Strong Sell” rating, uneven forward estimates, and cyclical chemical-market risks is likely contributing to the stock’s weakness.
Wall Street Analyst Weigh In
WLK has been the topic of several research analyst reports. JPMorgan Chase & Co. upgraded Westlake from an "underweight" rating to a "neutral" rating and set a $90.00 price objective on the stock in a research note on Monday, May 18th. UBS Group reiterated a "buy" rating and set a $117.00 target price (down from $130.00) on shares of Westlake in a research note on Friday, June 5th. The Goldman Sachs Group set a $85.00 price target on shares of Westlake in a research report on Thursday, July 16th. Mizuho decreased their price target on shares of Westlake from $110.00 to $88.00 and set a "neutral" rating for the company in a report on Wednesday, July 1st. Finally, Citigroup lowered their price objective on shares of Westlake from $95.00 to $85.00 and set a "neutral" rating for the company in a research report on Wednesday, June 24th. Three equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Westlake currently has an average rating of "Hold" and a consensus target price of $93.92.
Get Our Latest Stock Report on Westlake
About Westlake
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding WLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Westlake Corporation (NYSE:WLK - Free Report).
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