IFM Investors Pty Ltd Invests $1.08 Million in Westlake Co. (NYSE:WLK)

IFM Investors Pty Ltd acquired a new stake in shares of Westlake Co. (NYSE:WLK - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 7,093 shares of the specialty chemicals company's stock, valued at approximately $1,084,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CVA Family Office LLC bought a new position in shares of Westlake in the fourth quarter worth approximately $25,000. Venturi Wealth Management LLC increased its stake in Westlake by 51.3% in the 4th quarter. Venturi Wealth Management LLC now owns 236 shares of the specialty chemicals company's stock worth $33,000 after buying an additional 80 shares in the last quarter. GAMMA Investing LLC purchased a new stake in Westlake in the 4th quarter worth $37,000. Fifth Third Bancorp raised its holdings in Westlake by 55.9% during the third quarter. Fifth Third Bancorp now owns 354 shares of the specialty chemicals company's stock valued at $44,000 after acquiring an additional 127 shares during the period. Finally, Exchange Traded Concepts LLC boosted its stake in shares of Westlake by 19.3% in the third quarter. Exchange Traded Concepts LLC now owns 599 shares of the specialty chemicals company's stock worth $75,000 after acquiring an additional 97 shares during the period. 28.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on WLK shares. Bank of America upgraded shares of Westlake from a "hold" rating to a "buy" rating and lifted their price objective for the company from $138.00 to $174.00 in a research report on Thursday, April 18th. Barclays increased their price objective on shares of Westlake from $142.00 to $160.00 and gave the company an "equal weight" rating in a research report on Thursday, April 4th. Royal Bank of Canada lifted their target price on Westlake from $134.00 to $153.00 and gave the stock a "sector perform" rating in a report on Friday, April 19th. Deutsche Bank Aktiengesellschaft upgraded shares of Westlake from a "hold" rating to a "buy" rating and upped their price target for the company from $138.00 to $174.00 in a report on Thursday, April 18th. Finally, Citigroup increased their target price on Westlake from $140.00 to $162.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 10th. Two investment 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. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $145.79.

Westlake Trading Up 0.8 %

Shares of NYSE WLK traded up $1.18 during mid-day trading on Friday, hitting $149.55. 356,489 shares of the company traded hands, compared to its average volume of 435,865. Westlake Co. has a 1 year low of $103.28 and a 1 year high of $162.64. The business has a 50 day moving average of $147.29 and a two-hundred day moving average of $137.25. The stock has a market capitalization of $19.17 billion, a price-to-earnings ratio of 40.42, a PEG ratio of 1.45 and a beta of 1.30. The company has a quick ratio of 1.79, a current ratio of 2.37 and a debt-to-equity ratio of 0.43.

Westlake (NYSE:WLK - Get Free Report) last announced its quarterly 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). The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.85 billion. Westlake had a return on equity of 9.70% and a net margin of 3.82%. The business's revenue for the quarter was down 14.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.79 EPS. On average, sell-side analysts anticipate that Westlake Co. will post 6.73 earnings per share for the current fiscal year.

Westlake Dividend Announcement

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

Insider Transactions at Westlake

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

Westlake Profile

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.

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