Westlake Chemical Partners LP (NYSE:WLKP) SVP Buys $111,150.00 in Stock

Westlake Chemical Partners LP (NYSE:WLKP - Get Free Report) SVP Andrew Kenner bought 5,000 shares of the firm's stock in a transaction that occurred on Thursday, March 28th. The stock was purchased at an average cost of $22.23 per share, with a total value of $111,150.00. Following the completion of the purchase, the senior vice president now directly owns 150,839 shares of the company's stock, valued at approximately $3,353,150.97. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Andrew Kenner also recently made the following trade(s):

• On Thursday, March 21st, Andrew Kenner bought 4,230 shares of Westlake Chemical Partners stock. The stock was purchased at an average cost of $22.16 per share, with a total value of $93,736.80.
• On Wednesday, March 6th, Andrew Kenner bought 5,000 shares of Westlake Chemical Partners stock. The stock was purchased at an average cost of $22.30 per share, with a total value of $111,500.00.
• On Thursday, February 22nd, Andrew Kenner acquired 10,000 shares of Westlake Chemical Partners stock. The shares were bought at an average cost of $22.12 per share, with a total value of $221,200.00.

Westlake Chemical Partners Stock Performance

Shares of Westlake Chemical Partners stock traded up $0.03 during trading on Monday, reaching $22.23. The company's stock had a trading volume of 23,465 shares, compared to its average volume of 29,140. The business's 50-day moving average price is $22.47 and its 200-day moving average price is $22.09. The firm has a market cap of $783.16 million, a PE ratio of 14.44 and a beta of 1.08. Westlake Chemical Partners LP has a 52 week low of $20.86 and a 52 week high of $23.68. The company has a quick ratio of 3.94, a current ratio of 4.02 and a debt-to-equity ratio of 0.47.

Westlake Chemical Partners (NYSE:WLKP - Get Free Report) last posted its quarterly earnings results on Tuesday, February 20th. The basic materials company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.04). The company had revenue of $297.27 million during the quarter, compared to analyst estimates of $316.62 million. Westlake Chemical Partners had a net margin of 4.56% and a return on equity of 6.25%. During the same period last year, the firm earned $0.48 EPS. Equities analysts forecast that Westlake Chemical Partners LP will post 1.7 earnings per share for the current year.

Westlake Chemical Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Friday, February 2nd were paid a $0.4714 dividend. This represents a $1.89 dividend on an annualized basis and a yield of 8.48%. The ex-dividend date was Thursday, February 1st. Westlake Chemical Partners's dividend payout ratio (DPR) is presently 122.73%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Westlake Chemical Partners from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, March 26th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its stake in Westlake Chemical Partners by 0.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 137,817 shares of the basic materials company's stock worth $2,984,000 after acquiring an additional 687 shares in the last quarter. GSA Capital Partners LLP raised its stake in Westlake Chemical Partners by 200.0% during the fourth quarter. GSA Capital Partners LLP now owns 34,714 shares of the basic materials company's stock worth $752,000 after acquiring an additional 23,143 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in Westlake Chemical Partners during the fourth quarter worth about $27,000. Hilltop Holdings Inc. raised its stake in Westlake Chemical Partners by 3.4% during the fourth quarter. Hilltop Holdings Inc. now owns 27,229 shares of the basic materials company's stock worth $590,000 after acquiring an additional 897 shares in the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc raised its stake in Westlake Chemical Partners by 25.0% during the fourth quarter. Texas Capital Bank Wealth Management Services Inc now owns 25,000 shares of the basic materials company's stock worth $541,000 after acquiring an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 78.28% of the company's stock.

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.