Dimensional Fund Advisors LP Sells 419,658 Shares of Westlake Corporation $WLK

Dimensional Fund Advisors LP trimmed its stake in shares of Westlake Corporation (NYSE:WLK - Free Report) by 22.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,466,020 shares of the specialty chemicals company's stock after selling 419,658 shares during the quarter. Dimensional Fund Advisors LP owned 1.14% of Westlake worth $171,263,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Orbis Allan Gray Ltd grew its holdings in shares of Westlake by 12.1% in the 4th quarter. Orbis Allan Gray Ltd now owns 4,386,635 shares of the specialty chemicals company's stock worth $324,348,000 after purchasing an additional 472,224 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Westlake by 7,239.1% during the 4th quarter. Wellington Management Group LLP now owns 4,220,717 shares of the specialty chemicals company's stock valued at $312,080,000 after purchasing an additional 4,163,207 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Westlake by 13.9% during the 4th quarter. Vanguard Group Inc. now owns 3,917,329 shares of the specialty chemicals company's stock valued at $289,647,000 after purchasing an additional 477,698 shares during the last quarter. Capital World Investors acquired a new position in Westlake in the fourth quarter valued at about $160,548,000. Finally, Brandes Investment Partners LP boosted its position in Westlake by 7.9% in the fourth quarter. Brandes Investment Partners LP now owns 1,670,327 shares of the specialty chemicals company's stock valued at $123,505,000 after buying an additional 121,633 shares in the last quarter. 28.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $115.00 price target on shares of Westlake in a report on Thursday, May 7th. Mizuho reduced their price objective on Westlake from $110.00 to $88.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 1st. BMO Capital Markets restated a "market perform" rating and issued a $96.00 target price on shares of Westlake in a research note on Monday, July 6th. Truist Financial cut their price target on Westlake from $127.00 to $104.00 and set a "buy" rating for the company in a report on Monday, July 20th. Finally, UBS Group reiterated a "buy" rating and set a $117.00 price target (down from $130.00) on shares of Westlake in a research report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Westlake has a consensus rating of "Hold" and an average target price of $97.64.

Westlake Price Performance

Westlake stock opened at $74.02 on Friday. The business's 50-day simple moving average is $81.18 and its 200 day simple moving average is $94.44. The company has a quick ratio of 1.56, a current ratio of 2.17 and a debt-to-equity ratio of 0.56. The stock has a market cap of $9.48 billion, a price-to-earnings ratio of -5.83 and a beta of 0.62. Westlake Corporation has a 12-month low of $56.33 and a 12-month high of $124.23.

Westlake (NYSE:WLK - Get Free Report) last released its earnings results on Tuesday, May 5th. The specialty chemicals company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.67). The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.79 billion. Westlake had a negative net margin of 14.91% and a negative return on equity of 1.89%. The business's revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.31) earnings per share. As a group, research analysts anticipate that Westlake Corporation will post 2.97 earnings per share for the current year.

Westlake Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Wednesday, May 27th were paid a $0.53 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $2.12 dividend on an annualized basis and a yield of 2.9%. Westlake's dividend payout ratio (DPR) is presently -16.69%.

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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