James Chao Sells 4,600 Shares of Westlake Chemical Partners LP (NYSE:WLKP) Stock

Westlake Chemical Partners LP (NYSE:WLKP - Get Free Report) Chairman James Chao sold 4,600 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $22.10, for a total value of $101,660.00. Following the sale, the chairman now directly owns 3,700 shares of the company's stock, valued at $81,770. The trade was a 55.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

James Chao also recently made the following trade(s):

• On Thursday, May 29th, James Chao sold 3,700 shares of Westlake Chemical Partners stock. The stock was sold at an average price of $22.10, for a total value of $81,770.00.
• On Tuesday, May 27th, James Chao sold 5,608 shares of Westlake Chemical Partners stock. The stock was sold at an average price of $22.17, for a total value of $124,329.36.

Westlake Chemical Partners Price Performance

Shares of WLKP traded up $0.11 during mid-day trading on Friday, hitting $22.16. The company's stock had a trading volume of 52,198 shares, compared to its average volume of 32,328. The company has a current ratio of 4.53, a quick ratio of 4.46 and a debt-to-equity ratio of 0.48. The firm has a 50-day simple moving average of $22.87 and a 200 day simple moving average of $23.39. The firm has a market capitalization of $780.72 million, a P/E ratio of 12.66 and a beta of 0.84. Westlake Chemical Partners LP has a 1-year low of $21.19 and a 1-year high of $25.04.

Westlake Chemical Partners (NYSE:WLKP - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The basic materials company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.24). The business had revenue of $237.63 million during the quarter, compared to analyst estimates of $296.00 million. Westlake Chemical Partners had a net margin of 5.40% and a return on equity of 7.31%. Analysts predict that Westlake Chemical Partners LP will post 1.55 EPS for the current fiscal year.

Westlake Chemical Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Tuesday, May 13th were issued a $0.4714 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $1.89 annualized dividend and a dividend yield of 8.51%. Westlake Chemical Partners's dividend payout ratio is currently 126.17%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Westlake Chemical Partners from a "strong-buy" rating to a "buy" rating in a research report on Monday, May 5th.

Hedge Funds Weigh In On Westlake Chemical Partners

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Apollon Wealth Management LLC raised its holdings in Westlake Chemical Partners by 3.4% during the fourth quarter. Apollon Wealth Management LLC now owns 15,421 shares of the basic materials company's stock worth $357,000 after purchasing an additional 512 shares during the last quarter. Samalin Investment Counsel LLC raised its holdings in Westlake Chemical Partners by 2.3% during the first quarter. Samalin Investment Counsel LLC now owns 24,855 shares of the basic materials company's stock worth $574,000 after purchasing an additional 568 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in Westlake Chemical Partners by 32.2% during the fourth quarter. Geneos Wealth Management Inc. now owns 3,337 shares of the basic materials company's stock worth $77,000 after purchasing an additional 812 shares during the last quarter. Pathway Financial Advisers LLC raised its holdings in Westlake Chemical Partners by 1.6% during the first quarter. Pathway Financial Advisers LLC now owns 103,390 shares of the basic materials company's stock worth $2,387,000 after purchasing an additional 1,610 shares during the last quarter. Finally, Eagle Global Advisors LLC raised its holdings in Westlake Chemical Partners by 4.6% during the fourth quarter. Eagle Global Advisors LLC now owns 45,873 shares of the basic materials company's stock worth $1,062,000 after purchasing an additional 2,000 shares during the last quarter. 78.28% of the stock is owned by institutional investors and hedge funds.

About Westlake Chemical Partners

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.