Westlake Chemical Partners (NYSE:WLKP) CEO Purchases $102,648.00 in Stock

Key Points

• Westlake Chemical Partners CEO Jean-Marc Gilson purchased $102,648 worth of shares, increasing his total holdings by 104.26%.
• The company reported a missed earnings estimate for the last quarter, posting $0.41 earnings per share against a consensus estimate of $0.44.
• Westlake Chemical Partners declared a quarterly dividend of $0.4714 per share, which represents an annual yield of 8.5% with a payout ratio of 126.85%.

Westlake Chemical Partners LP (NYSE:WLKP - Get Free Report) CEO Jean-Marc Gilson bought 4,700 shares of Westlake Chemical Partners stock in a transaction dated Friday, August 15th. The stock was acquired at an average cost of $21.84 per share, with a total value of $102,648.00. Following the transaction, the chief executive officer owned 9,208 shares of the company's stock, valued at $201,102.72. This trade represents a 104.26% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Jean-Marc Gilson also recently made the following trade(s):

• On Wednesday, August 20th, Jean-Marc Gilson bought 1,250 shares of Westlake Chemical Partners stock. The shares were bought at an average cost of $21.86 per share, for a total transaction of $27,325.00.

Westlake Chemical Partners Price Performance

WLKP stock opened at $22.26 on Thursday. The stock has a market capitalization of $784.51 million, a PE ratio of 14.94 and a beta of 0.78. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.15 and a quick ratio of 2.10. The company's 50-day moving average is $22.11 and its 200-day moving average is $22.74. Westlake Chemical Partners LP has a 1 year low of $21.19 and a 1 year high of $25.04.

Westlake Chemical Partners (NYSE:WLKP - Get Free Report) last announced its earnings results on Tuesday, August 5th. The basic materials company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.03). The company had revenue of $297.12 million for the quarter, compared to analysts' expectations of $301.00 million. Westlake Chemical Partners had a return on equity of 6.38% and a net margin of 4.78%. Equities research analysts expect that Westlake Chemical Partners LP will post 1.55 EPS for the current fiscal year.

Westlake Chemical Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 27th. Shareholders of record on Tuesday, August 12th were paid a dividend of $0.4714 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $1.89 dividend on an annualized basis and a yield of 8.5%. Westlake Chemical Partners's dividend payout ratio is currently 126.85%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Westlake Chemical Partners from a "hold" rating to a "buy" rating in a research report on Monday.

Institutional Trading of Westlake Chemical Partners

A number of hedge funds have recently bought and sold shares of the business. Sound Income Strategies LLC bought a new position in Westlake Chemical Partners in the 2nd quarter valued at $32,000. U.S. Capital Wealth Advisors LLC bought a new position in Westlake Chemical Partners in the first quarter valued at about $231,000. Apollon Wealth Management LLC raised its stake in Westlake Chemical Partners by 7.3% during the 1st quarter. Apollon Wealth Management LLC now owns 16,547 shares of the basic materials company's stock valued at $382,000 after purchasing an additional 1,126 shares during the period. Jane Street Group LLC bought a new position in Westlake Chemical Partners during the second quarter valued at approximately $387,000. Finally, Envestnet Asset Management Inc. increased its stake in Westlake Chemical Partners by 4.4% during the second quarter. Envestnet Asset Management Inc. now owns 17,629 shares of the basic materials company's stock worth $389,000 after acquiring an additional 751 shares during the last quarter. 78.28% of the stock is currently owned by institutional investors.

About Westlake Chemical Partners

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.

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