Cerity Partners LLC Has $7.50 Million Holdings in Westlake Corp. (NYSE:WLK)

Cerity Partners LLC decreased its holdings in Westlake Corp. (NYSE:WLK - Free Report) by 9.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,928 shares of the specialty chemicals company's stock after selling 7,685 shares during the quarter. Cerity Partners LLC owned approximately 0.06% of Westlake worth $7,495,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WLK. Private Trust Co. NA raised its position in shares of Westlake by 251.1% in the 1st quarter. Private Trust Co. NA now owns 316 shares of the specialty chemicals company's stock valued at $32,000 after purchasing an additional 226 shares in the last quarter. Transamerica Financial Advisors Inc. grew its stake in Westlake by 1,668.2% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 389 shares of the specialty chemicals company's stock worth $45,000 after buying an additional 367 shares during the last quarter. Fifth Third Bancorp grew its stake in Westlake by 71.9% during the 1st quarter. Fifth Third Bancorp now owns 514 shares of the specialty chemicals company's stock worth $51,000 after buying an additional 215 shares during the last quarter. Parallel Advisors LLC grew its stake in Westlake by 33.9% during the 1st quarter. Parallel Advisors LLC now owns 525 shares of the specialty chemicals company's stock worth $53,000 after buying an additional 133 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in Westlake during the 4th quarter worth $71,000. Hedge funds and other institutional investors own 28.40% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Wall Street Zen lowered Westlake from a "hold" rating to a "sell" rating in a research report on Friday, May 9th. Bank of America dropped their price target on Westlake from $90.00 to $84.00 and set a "buy" rating on the stock in a research report on Wednesday, June 18th. The Goldman Sachs Group dropped their price target on Westlake from $130.00 to $95.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 6th. Mizuho upped their price target on Westlake from $82.00 to $98.00 and gave the company an "outperform" rating in a research report on Tuesday. Finally, UBS Group dropped their price target on Westlake from $101.00 to $99.00 and set a "buy" rating on the stock in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Westlake currently has an average rating of "Hold" and an average target price of $93.77.

Westlake Trading Up 3.3%

Shares of NYSE:WLK traded up $2.65 during midday trading on Thursday, hitting $83.90. The company had a trading volume of 416,082 shares, compared to its average volume of 753,466. The firm has a fifty day simple moving average of $77.39 and a 200 day simple moving average of $95.23. The company has a current ratio of 2.63, a quick ratio of 1.86 and a debt-to-equity ratio of 0.42. The stock has a market cap of $10.76 billion, a price-to-earnings ratio of 28.11, a PEG ratio of 9.72 and a beta of 0.91. Westlake Corp. has a 12 month low of $68.55 and a 12 month high of $153.34.

Westlake (NYSE:WLK - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The specialty chemicals company reported ($0.31) EPS for the quarter, missing analysts' consensus estimates of $0.70 by ($1.01). The firm had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.97 billion. Westlake had a net margin of 3.23% and a return on equity of 4.19%. The business's revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.34 earnings per share. On average, analysts predict that Westlake Corp. will post 6.48 EPS for the current year.

Westlake Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Tuesday, May 20th were given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend was Tuesday, May 20th. Westlake's dividend payout ratio is currently 70.47%.

About Westlake

Westlake Corporation engages in the manufacture and marketing of performance and essential materials, and housing and infrastructure products in the United States, Canada, Germany, China, Mexico, Brazil, France, Italy, Taiwan, and internationally. The company operates through two segments: Performance and Essential Materials and Housing and Infrastructure Products.