Livforsakringsbolaget Skandia Omsesidigt Has $2.05 Million Stake in Westlake Co. (NYSE:WLK)

Livforsakringsbolaget Skandia Omsesidigt trimmed its holdings in Westlake Co. (NYSE:WLK - Free Report) by 51.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,650 shares of the specialty chemicals company's stock after selling 15,350 shares during the period. Livforsakringsbolaget Skandia Omsesidigt's holdings in Westlake were worth $2,050,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Venturi Wealth Management LLC boosted its position in Westlake by 51.3% during the fourth quarter. Venturi Wealth Management LLC now owns 236 shares of the specialty chemicals company's stock worth $33,000 after purchasing an additional 80 shares during the period. Arizona State Retirement System grew its stake in Westlake by 0.8% in the 4th quarter. Arizona State Retirement System now owns 10,528 shares of the specialty chemicals company's stock valued at $1,473,000 after buying an additional 81 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings in Westlake by 0.5% in the 3rd 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 during the period. PDT Partners LLC lifted its position in Westlake by 0.9% during the 1st 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 during the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in Westlake by 19.3% during the third quarter. Exchange Traded Concepts LLC now owns 599 shares of the specialty chemicals company's stock valued at $75,000 after acquiring an additional 97 shares during the period. Institutional investors and hedge funds own 28.40% of the company's stock.

Insider Activity

In related news, CFO Mark Steven Bender sold 4,854 shares of the company's stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $137.57, for a total transaction of $667,764.78. Following the transaction, the chief financial officer now owns 50,110 shares in the company, valued at approximately $6,893,632.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Robert F. Buesinger sold 3,878 shares of the firm's 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 document filed with the SEC, which is available through this hyperlink. Also, CFO Mark Steven Bender sold 4,854 shares of the business's stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $137.57, for a total value of $667,764.78. Following the sale, the chief financial officer now directly owns 50,110 shares of the company's stock, valued at $6,893,632.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,658 shares of company stock worth $1,923,225. 1.30% of the stock is owned by corporate insiders.

Westlake Price Performance

WLK stock traded up $0.36 during trading on Thursday, hitting $148.95. 494,655 shares of the stock traded hands, compared to its average volume of 388,410. The stock has a market cap of $19.10 billion, a price-to-earnings ratio of 40.52, a P/E/G ratio of 1.45 and a beta of 1.30. Westlake Co. has a one year low of $103.28 and a one year high of $162.64. The company has a current ratio of 2.37, a quick ratio of 1.79 and a debt-to-equity ratio of 0.43. The company has a 50 day simple moving average of $146.32 and a 200 day simple moving average of $136.00.

Westlake (NYSE:WLK - Get Free Report) last announced its earnings results on Tuesday, February 20th. The specialty chemicals company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.09). Westlake had a return on equity of 9.70% and a net margin of 3.82%. The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same period in the previous year, the firm earned $1.79 earnings per share. The firm's revenue was down 14.3% compared to the same quarter last year. Equities analysts expect that Westlake Co. will post 6.93 EPS for the current fiscal year.

Westlake Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Wednesday, February 28th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.34%. The ex-dividend date was Tuesday, February 27th. Westlake's payout ratio is presently 54.05%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on WLK. Citigroup boosted their price objective on Westlake from $140.00 to $162.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft raised Westlake from a "hold" rating to a "buy" rating and increased their price objective for the company from $138.00 to $174.00 in a research report on Thursday. Wells Fargo & Company boosted their target price on shares of Westlake from $150.00 to $180.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 3rd. Vertical Research downgraded shares of Westlake from a "buy" rating to a "hold" rating and set a $154.00 price target for the company. in a report on Monday, April 8th. Finally, Royal Bank of Canada cut their price objective on shares of Westlake from $139.00 to $134.00 and set a "sector perform" rating for the company in a research report on Monday, February 26th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $144.43.

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.