Insider Selling: Westlake Chemical Partners LP (NYSE:WLKP) Chairman Sells 3,700 Shares of Stock

Westlake Chemical Partners LP (NYSE:WLKP - Get Free Report) Chairman James Chao sold 3,700 shares of Westlake Chemical Partners stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $22.10, for a total value of $81,770.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

James Chao also recently made the following trade(s):

• On Wednesday, May 28th, James Chao sold 4,600 shares of Westlake Chemical Partners stock. The stock was sold at an average price of $22.10, for a total transaction of $101,660.00.
• On Tuesday, May 27th, James Chao sold 5,608 shares of Westlake Chemical Partners stock. The stock was sold at an average price of $22.17, for a total value of $124,329.36.

Westlake Chemical Partners Stock Performance

NYSE WLKP traded up $0.17 during trading hours on Tuesday, hitting $22.20. 25,786 shares of the company's stock traded hands, compared to its average volume of 34,979. Westlake Chemical Partners LP has a 52 week low of $21.19 and a 52 week high of $25.04. The firm has a market capitalization of $782.31 million, a P/E ratio of 12.69 and a beta of 0.84. The company has a current ratio of 4.53, a quick ratio of 4.46 and a debt-to-equity ratio of 0.48. The business's fifty day moving average price is $22.85 and its two-hundred day moving average price is $23.40.

Westlake Chemical Partners (NYSE:WLKP - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The basic materials company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.24). The business had revenue of $237.63 million for the quarter, compared to analysts' expectations of $296.00 million. Westlake Chemical Partners had a return on equity of 7.31% and a net margin of 5.40%. Equities research analysts predict that Westlake Chemical Partners LP will post 1.55 EPS for the current year.

Westlake Chemical Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Tuesday, May 13th were given a $0.4714 dividend. This represents a $1.89 dividend on an annualized basis and a yield of 8.49%. The ex-dividend date was Tuesday, May 13th. Westlake Chemical Partners's payout ratio is 126.17%.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of Westlake Chemical Partners from a "strong-buy" rating to a "buy" rating in a research report on Monday, May 5th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. increased its holdings in Westlake Chemical Partners by 32.2% in the 4th quarter. Geneos Wealth Management Inc. now owns 3,337 shares of the basic materials company's stock worth $77,000 after acquiring an additional 812 shares in the last quarter. GeoWealth Management LLC purchased a new stake in shares of Westlake Chemical Partners in the fourth quarter worth $175,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Westlake Chemical Partners in the fourth quarter worth $211,000. U.S. Capital Wealth Advisors LLC bought a new stake in shares of Westlake Chemical Partners during the 1st quarter valued at $231,000. Finally, Apollon Wealth Management LLC lifted its stake in shares of Westlake Chemical Partners by 3.4% during the 4th quarter. Apollon Wealth Management LLC now owns 15,421 shares of the basic materials company's stock valued at $357,000 after buying an additional 512 shares in the last quarter. Institutional investors 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.