Westlake Co. (NYSE:WLK) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its holdings in shares of Westlake Co. (NYSE:WLK - Free Report) by 3.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,265,420 shares of the specialty chemicals company's stock after selling 103,824 shares during the period. Westlake makes up 0.5% of Victory Capital Management Inc.'s holdings, making the stock its 26th biggest position. Victory Capital Management Inc. owned approximately 2.55% of Westlake worth $457,028,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Silver Oak Securities Incorporated lifted its holdings in shares of Westlake by 1,360.8% in the 4th quarter. Silver Oak Securities Incorporated now owns 1,490 shares of the specialty chemicals company's stock valued at $209,000 after buying an additional 1,388 shares during the period. Retirement Systems of Alabama raised its position in Westlake by 0.7% during the fourth quarter. Retirement Systems of Alabama now owns 40,123 shares of the specialty chemicals company's stock valued at $5,616,000 after acquiring an additional 265 shares in the last quarter. Atria Wealth Solutions Inc. raised its position in Westlake by 4.0% during the fourth quarter. Atria Wealth Solutions Inc. now owns 3,562 shares of the specialty chemicals company's stock valued at $499,000 after acquiring an additional 136 shares in the last quarter. GAMMA Investing LLC acquired a new position in Westlake in the fourth quarter valued at approximately $37,000. Finally, Illinois Municipal Retirement Fund boosted its position in Westlake by 41.9% in the 4th quarter. Illinois Municipal Retirement Fund now owns 13,975 shares of the specialty chemicals company's stock worth $1,956,000 after purchasing an additional 4,129 shares in the last quarter. 28.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Westlake

In related 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 transaction, the executive vice president now directly 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 at this hyperlink. In related news, CFO Mark Steven Bender sold 4,804 shares of Westlake stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $141.02, for a total value of $677,460.08. Following the completion of the sale, the chief financial officer now owns 45,306 shares in the company, valued at approximately $6,389,052.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert F. Buesinger sold 3,878 shares of the business's stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $144.50, for a total value of $560,371.00. Following the completion of the sale, the executive vice president now directly owns 21,144 shares in the company, valued at approximately $3,055,308. The disclosure for this sale can be found here. Insiders have sold 13,658 shares of company stock worth $1,923,225 in the last ninety days. 1.30% of the stock is owned by insiders.

Westlake Price Performance

NYSE WLK traded up $1.82 during trading hours on Wednesday, hitting $149.18. 933,811 shares of the company's stock traded hands, compared to its average volume of 398,648. 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 firm's 50-day moving average is $147.71 and its 200-day moving average is $137.73. Westlake Co. has a 52-week low of $103.28 and a 52-week high of $162.64. The company has a market capitalization of $19.12 billion, a PE ratio of 40.32, a PEG ratio of 1.50 and a beta of 1.30.

Westlake (NYSE:WLK - Get Free Report) last announced its quarterly earnings data on Tuesday, February 20th. The specialty chemicals company reported $0.72 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 for the quarter, compared to analysts' expectations of $2.85 billion. During the same quarter in the previous year, the business posted $1.79 EPS. The business's quarterly revenue was down 14.3% compared to the same quarter last year. Equities analysts forecast that Westlake Co. will post 6.73 EPS for the current fiscal year.

Westlake Dividend Announcement

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

Analyst Ratings Changes

Several research firms recently commented on WLK. Wells Fargo & Company raised their price target on shares of Westlake from $150.00 to $180.00 and gave the company an "overweight" rating in a research report on Wednesday, April 3rd. Royal Bank of Canada lifted their price target on Westlake from $134.00 to $153.00 and gave the company a "sector perform" rating in a research note on Friday, April 19th. Bank of America upgraded Westlake from a "hold" rating to a "buy" rating and increased their price target for the stock from $138.00 to $174.00 in a research report on Thursday, April 18th. Barclays boosted their price objective on Westlake from $142.00 to $160.00 and gave the company an "equal weight" rating in a research report on Thursday, April 4th. Finally, Vertical Research lowered Westlake from a "buy" rating to a "hold" rating and set a $154.00 target price on the stock. in a research report on Monday, April 8th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $145.79.

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.