Westlake Chemical Partners LP (NYSE:WLKP) Chairman James Chao Sells 5,608 Shares

Westlake Chemical Partners LP (NYSE:WLKP - Get Free Report) Chairman James Chao sold 5,608 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $22.17, for a total transaction of $124,329.36. Following the transaction, the chairman now owns 8,300 shares of the company's stock, valued at $184,011. This trade represents a 40.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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 Wednesday, May 28th, James Chao sold 4,600 shares of Westlake Chemical Partners stock. The shares were sold at an average price of $22.10, for a total value of $101,660.00.

Westlake Chemical Partners Trading Down 0.3%

NYSE:WLKP traded down $0.07 during mid-day trading on Monday, hitting $22.06. 41,653 shares of the stock traded hands, compared to its average volume of 31,809. The company has a quick ratio of 4.46, a current ratio of 4.53 and a debt-to-equity ratio of 0.48. Westlake Chemical Partners LP has a 52 week low of $21.19 and a 52 week high of $25.04. The stock has a market capitalization of $777.20 million, a price-to-earnings ratio of 12.60 and a beta of 0.84. The firm's 50 day moving average is $22.87 and its two-hundred day moving average is $23.40.

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

Westlake Chemical Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Tuesday, May 13th were paid a $0.4714 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $1.89 dividend on an annualized basis and a yield of 8.55%. Westlake Chemical Partners's payout ratio is 126.17%.

Institutional Trading of Westlake Chemical Partners

A number of large investors have recently made changes to their positions in WLKP. Allspring Global Investments Holdings LLC purchased a new position in Westlake Chemical Partners in the 4th quarter worth about $211,000. Raymond James Financial Inc. purchased a new position in shares of Westlake Chemical Partners during the fourth quarter worth approximately $456,000. Proficio Capital Partners LLC bought a new stake in shares of Westlake Chemical Partners during the fourth quarter valued at approximately $1,874,000. Geneos Wealth Management Inc. boosted its holdings in shares of Westlake Chemical Partners by 32.2% in the fourth quarter. Geneos Wealth Management Inc. now owns 3,337 shares of the basic materials company's stock valued at $77,000 after purchasing an additional 812 shares during the period. Finally, LPL Financial LLC grew its stake in Westlake Chemical Partners by 13.8% in the fourth quarter. LPL Financial LLC now owns 35,136 shares of the basic materials company's stock worth $813,000 after purchasing an additional 4,253 shares in the last quarter. 78.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Westlake Chemical Partners Company Profile

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.