Westlake (NYSE:WLK) PT Raised to $160.00 at Barclays

Westlake (NYSE:WLK - Free Report) had its target price boosted by Barclays from $142.00 to $160.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has an equal weight rating on the specialty chemicals company's stock.

Other analysts have also issued research reports about the company. Wells Fargo & Company increased their target price on Westlake from $150.00 to $180.00 and gave the stock an overweight rating in a research note on Wednesday. Tudor, Pickering, Holt & Co. upgraded Westlake from a sell rating to a hold rating in a research note on Tuesday, January 2nd. Royal Bank of Canada reduced their target price on Westlake from $139.00 to $134.00 and set a sector perform rating on the stock in a research note on Monday, February 26th. Finally, UBS Group increased their target price on Westlake from $139.00 to $145.00 and gave the stock a neutral rating in a research note on Thursday, January 11th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Westlake presently has an average rating of Hold and a consensus price target of $135.54.

Westlake Price Performance

Shares of NYSE WLK traded up $0.10 during midday trading on Thursday, reaching $157.14. 538,891 shares of the stock traded hands, compared to its average volume of 376,795. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.37 and a quick ratio of 1.79. The stock has a market capitalization of $20.15 billion, a PE ratio of 42.81, a P/E/G ratio of 1.64 and a beta of 1.30. Westlake has a one year low of $103.28 and a one year high of $160.00. The company's 50 day moving average is $143.15 and its 200 day moving average is $133.77.

Westlake (NYSE:WLK - Get Free Report) last issued its quarterly earnings results on Tuesday, February 20th. The specialty chemicals company reported $0.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.81 by ($0.09). Westlake had a return on equity of 9.70% and a net margin of 3.82%. The company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter in the prior year, the business earned $1.79 earnings per share. The firm's quarterly revenue was down 14.3% compared to the same quarter last year. On average, equities research analysts anticipate that Westlake will post 6.84 earnings per share for the current year.

Westlake Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Wednesday, February 28th were paid a dividend of $0.50 per share. The ex-dividend date was Tuesday, February 27th. This represents a $2.00 annualized dividend and a dividend yield of 1.27%. Westlake's dividend payout ratio is currently 54.05%.

Insider Buying and Selling at Westlake

In other Westlake news, EVP Robert F. Buesinger sold 3,878 shares of Westlake stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $144.50, for a total value of $560,371.00. Following the transaction, the executive vice president now owns 21,144 shares in the company, valued at $3,055,308. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Westlake news, EVP Robert F. Buesinger sold 3,878 shares of Westlake stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $144.50, for a total value of $560,371.00. Following the transaction, the executive vice president now owns 21,144 shares in the company, valued at $3,055,308. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Steven Bender sold 4,854 shares of Westlake stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $137.57, for a total value of $667,764.78. Following the completion of the transaction, the chief financial officer now owns 50,110 shares in the company, valued at approximately $6,893,632.70. The disclosure for this sale can be found here. Insiders have sold 13,658 shares of company stock worth $1,923,225 over the last quarter. Insiders own 74.10% of the company's stock.

Institutional Investors Weigh In On Westlake

Several institutional investors have recently added to or reduced their stakes in the business. Voya Investment Management LLC boosted its holdings in Westlake by 1.3% in the fourth quarter. Voya Investment Management LLC now owns 5,681 shares of the specialty chemicals company's stock worth $795,000 after acquiring an additional 72 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in Westlake by 51.3% in the fourth quarter. Venturi Wealth Management LLC now owns 236 shares of the specialty chemicals company's stock worth $33,000 after acquiring an additional 80 shares in the last quarter. Arizona State Retirement System boosted its holdings in Westlake by 0.8% in the fourth quarter. Arizona State Retirement System now owns 10,528 shares of the specialty chemicals company's stock worth $1,473,000 after acquiring an additional 81 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in Westlake by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 17,569 shares of the specialty chemicals company's stock worth $2,190,000 after acquiring an additional 83 shares in the last quarter. Finally, PDT Partners LLC boosted its holdings in Westlake by 0.9% in the first quarter. PDT Partners LLC now owns 9,443 shares of the specialty chemicals company's stock worth $1,165,000 after acquiring an additional 86 shares in the last quarter. Institutional investors and hedge funds own 28.40% of the company's stock.

About Westlake

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.