Squarepoint Ops LLC Grows Holdings in Westlake Co. (NYSE:WLK)

Squarepoint Ops LLC lifted its holdings in shares of Westlake Co. (NYSE:WLK - Free Report) by 132.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 178,305 shares of the specialty chemicals company's stock after acquiring an additional 101,721 shares during the period. Squarepoint Ops LLC owned 0.14% of Westlake worth $20,443,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. grew its position in shares of Westlake by 247.7% during the fourth 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% in the 4th quarter. Allworth Financial LP now owns 385 shares of the specialty chemicals company's stock valued at $45,000 after buying an additional 379 shares during the last quarter. Transamerica Financial Advisors Inc. grew its position in Westlake by 1,668.2% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 389 shares of the specialty chemicals company's stock valued at $45,000 after buying an additional 367 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Westlake in the 4th quarter valued at $71,000. Finally, Venturi Wealth Management LLC grew its position in Westlake by 163.9% in the 4th quarter. Venturi Wealth Management LLC now owns 789 shares of the specialty chemicals company's stock valued at $90,000 after buying an additional 490 shares during the last quarter. 28.40% of the stock is currently owned by hedge funds and other institutional investors.

Westlake Price Performance

Shares of NYSE WLK traded up $0.68 during trading on Tuesday, hitting $72.21. 121,245 shares of the company were exchanged, compared to its average volume of 839,514. The company has a market cap of $9.26 billion, a price-to-earnings ratio of 101.72, a PEG ratio of 2.36 and a beta of 1.03. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.79 and a quick ratio of 2.04. Westlake Co. has a 1 year low of $70.28 and a 1 year high of $161.31. The firm's fifty day moving average price is $88.82 and its 200 day moving average price is $106.85.

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

Westlake Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Tuesday, May 20th will be given a $0.525 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $2.10 annualized dividend and a dividend yield of 2.91%. Westlake's dividend payout ratio is presently 70.47%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on WLK. Royal Bank of Canada lowered their price objective on shares of Westlake from $122.00 to $96.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Wells Fargo & Company reiterated an "equal weight" rating and issued a $76.00 price objective (down from $95.00) on shares of Westlake in a research report on Tuesday, May 20th. Wall Street Zen lowered shares of Westlake from a "hold" rating to a "sell" rating in a research report on Friday, May 9th. BMO Capital Markets set a $94.00 price objective on shares of Westlake and gave the company a "market perform" rating in a research report on Tuesday, May 20th. Finally, Truist Financial lowered their price objective on shares of Westlake from $132.00 to $117.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $103.54.

Westlake 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.