Jefferies Financial Group Inc. Sells 13,783 Shares of Westlake Co. (NYSE:WLK)

Jefferies Financial Group Inc. reduced its stake in Westlake Co. (NYSE:WLK - Free Report) by 86.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,089 shares of the specialty chemicals company's stock after selling 13,783 shares during the period. Jefferies Financial Group Inc.'s holdings in Westlake were worth $240,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of WLK. Blue Trust Inc. grew its position in Westlake by 247.7% during the 4th quarter. Blue Trust Inc. now owns 226 shares of the specialty chemicals company's stock worth $26,000 after acquiring an additional 161 shares during the last quarter. Allworth Financial LP grew its position in Westlake by 6,316.7% during the 4th quarter. Allworth Financial LP now owns 385 shares of the specialty chemicals company's stock worth $45,000 after acquiring an additional 379 shares during the last quarter. Transamerica Financial Advisors Inc. grew its position 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 acquiring an additional 367 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Westlake during the 4th quarter worth approximately $71,000. Finally, Venturi Wealth Management LLC grew its position in Westlake by 163.9% during the 4th quarter. Venturi Wealth Management LLC now owns 789 shares of the specialty chemicals company's stock worth $90,000 after acquiring an additional 490 shares during the last quarter. 28.40% of the stock is currently owned by institutional investors.

Westlake Trading Down 3.3%

Westlake stock traded down $2.48 during mid-day trading on Wednesday, hitting $73.72. 1,331,968 shares of the company's stock were exchanged, compared to its average volume of 631,304. The firm has a market capitalization of $9.45 billion, a P/E ratio of 103.83, a PEG ratio of 2.36 and a beta of 1.03. Westlake Co. has a fifty-two week low of $73.65 and a fifty-two week high of $161.31. The company has a quick ratio of 2.04, a current ratio of 2.79 and a debt-to-equity ratio of 0.41. The company's 50 day simple moving average is $91.49 and its 200-day simple moving average is $108.75.

Westlake (NYSE:WLK - Get Free Report) last released its earnings results on Friday, May 2nd. The specialty chemicals company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by ($1.01). Westlake had a return on equity of 6.93% and a net margin of 0.81%. The firm had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter last year, the company posted $1.34 EPS. Westlake's revenue for the quarter was down 4.3% on a year-over-year basis. On average, equities analysts anticipate that Westlake Co. will post 6.48 earnings per share for the current year.

Westlake Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Tuesday, May 20th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Tuesday, May 20th. Westlake's dividend payout ratio (DPR) is currently 70.47%.

Analyst Ratings Changes

A number of equities research analysts recently commented on WLK shares. Morgan Stanley decreased their price target on Westlake from $122.00 to $98.00 and set an "equal weight" rating on the stock in a research report on Monday, May 12th. Barclays decreased their price target on Westlake from $135.00 to $100.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Wells Fargo & Company restated an "equal weight" rating and set a $76.00 price target (down from $95.00) on shares of Westlake in a research report on Tuesday. UBS Group decreased their price objective on Westlake from $144.00 to $127.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Finally, Royal Bank of Canada decreased their price objective on Westlake from $122.00 to $96.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $103.54.

Westlake Company Profile

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.