Westlake Chemical Partners LP (NYSE:WLKP - Get Free Report) CEO Jean-Marc Gilson acquired 1,250 shares of Westlake Chemical Partners stock in a transaction dated Wednesday, August 20th. The shares were purchased at an average price of $21.86 per share, with a total value of $27,325.00. Following the acquisition, the chief executive officer owned 10,458 shares of the company's stock, valued at approximately $228,611.88. This trade represents a 13.58% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Jean-Marc Gilson also recently made the following trade(s):
- On Friday, August 15th, Jean-Marc Gilson acquired 4,700 shares of Westlake Chemical Partners stock. The shares were purchased at an average price of $21.84 per share, with a total value of $102,648.00.
Westlake Chemical Partners Trading Down 0.3%
Shares of NYSE:WLKP opened at $22.26 on Thursday. Westlake Chemical Partners LP has a 12-month low of $21.19 and a 12-month high of $25.04. The stock has a market cap of $784.51 million, a PE ratio of 14.94 and a beta of 0.78. The business has a 50 day moving average of $22.11 and a 200-day moving average of $22.74. The company has a quick ratio of 2.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.48.
Westlake Chemical Partners (NYSE:WLKP - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.03). The firm had revenue of $297.12 million for the quarter, compared to the consensus estimate of $301.00 million. Westlake Chemical Partners had a return on equity of 6.38% and a net margin of 4.78%. As a group, equities research analysts forecast that Westlake Chemical Partners LP will post 1.55 earnings per share for the current year.
Westlake Chemical Partners Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Tuesday, August 12th were paid a $0.4714 dividend. This represents a $1.89 annualized dividend and a dividend yield of 8.5%. The ex-dividend date was Tuesday, August 12th. Westlake Chemical Partners's payout ratio is 126.85%.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen raised shares of Westlake Chemical Partners from a "hold" rating to a "buy" rating in a report on Monday.
Read Our Latest Stock Report on Westlake Chemical Partners
Institutional Trading of Westlake Chemical Partners
Several institutional investors have recently added to or reduced their stakes in WLKP. Fractal Investments LLC bought a new stake in Westlake Chemical Partners in the first quarter valued at approximately $1,856,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Westlake Chemical Partners by 6.0% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 583,932 shares of the basic materials company's stock worth $12,899,000 after purchasing an additional 32,863 shares in the last quarter. Energy Income Partners LLC increased its holdings in Westlake Chemical Partners by 1.4% in the second quarter. Energy Income Partners LLC now owns 1,774,544 shares of the basic materials company's stock worth $39,200,000 after purchasing an additional 24,459 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Westlake Chemical Partners in the fourth quarter worth approximately $456,000. Finally, Jane Street Group LLC bought a new stake in Westlake Chemical Partners in the second quarter worth approximately $387,000. 78.28% of the stock is currently owned by institutional investors.
About Westlake Chemical Partners
(
Get Free Report)
Westlake Chemical Partners LP acquires, develops, and operates ethylene production facilities and related assets in the United States. The company's ethylene production facilities primarily convert ethane into ethylene. It also sells ethylene co-products, such as propylene, crude butadiene, pyrolysis gasoline, and hydrogen directly to third parties on either a spot or contract basis.
Further Reading
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