MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 28,430 Shares of Westlake Chemical Partners LP (NYSE:WLKP)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Westlake Chemical Partners LP (NYSE:WLKP - Free Report) by 5.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 558,919 shares of the basic materials company's stock after purchasing an additional 28,430 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 1.59% of Westlake Chemical Partners worth $12,933,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of WLKP. Geneos Wealth Management Inc. lifted its holdings in shares of Westlake Chemical Partners by 32.2% during the 4th quarter. Geneos Wealth Management Inc. now owns 3,337 shares of the basic materials company's stock valued at $77,000 after buying an additional 812 shares during the last quarter. GeoWealth Management LLC bought a new position in Westlake Chemical Partners during the fourth quarter valued at approximately $175,000. Allspring Global Investments Holdings LLC acquired a new stake in Westlake Chemical Partners in the fourth quarter valued at approximately $211,000. Apollon Wealth Management LLC grew its position in Westlake Chemical Partners by 3.4% in the fourth quarter. Apollon Wealth Management LLC now owns 15,421 shares of the basic materials company's stock worth $357,000 after acquiring an additional 512 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Westlake Chemical Partners in the fourth quarter worth approximately $456,000. 78.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Westlake Chemical Partners from a "strong-buy" rating to a "buy" rating in a report on Monday, May 5th.

Westlake Chemical Partners Stock Down 0.8%

NYSE WLKP traded down $0.18 during trading on Wednesday, hitting $22.34. 7,846 shares of the company traded hands, compared to its average volume of 32,058. Westlake Chemical Partners LP has a 12 month low of $21.19 and a 12 month high of $25.04. The business has a fifty day simple moving average of $23.04 and a 200 day simple moving average of $23.41. The company has a market capitalization of $787.24 million, a P/E ratio of 12.77 and a beta of 0.84. The company has a current ratio of 4.53, a quick ratio of 4.46 and a debt-to-equity ratio of 0.48.

Westlake Chemical Partners (NYSE:WLKP - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $237.63 million for the quarter, compared to analyst estimates of $296.00 million. As a group, sell-side analysts predict that Westlake Chemical Partners LP will post 1.55 EPS for the current year.

Westlake Chemical Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Tuesday, May 13th will be issued a dividend of $0.4714 per share. The ex-dividend date is Tuesday, May 13th. This represents a $1.89 annualized dividend and a yield of 8.44%. Westlake Chemical Partners's dividend payout ratio (DPR) is presently 126.17%.

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.