Westlake Chemical Partners LP (NYSE:WLKP - Get Free Report) shares hit a new 52-week low during trading on Friday . The company traded as low as $20.63 and last traded at $20.62, with a volume of 69145 shares trading hands. The stock had previously closed at $21.08.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on the company. Wall Street Zen downgraded Westlake Chemical Partners from a "buy" rating to a "hold" rating in a report on Friday, September 5th. Zacks Research upgraded Westlake Chemical Partners to a "hold" rating in a research note on Thursday, August 28th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Westlake Chemical Partners in a research note on Wednesday. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of "Hold".
Read Our Latest Report on WLKP
Westlake Chemical Partners Price Performance
The company has a current ratio of 2.15, a quick ratio of 2.10 and a debt-to-equity ratio of 0.48. The business has a 50-day moving average price of $21.67 and a two-hundred day moving average price of $22.25. The firm has a market capitalization of $726.45 million, a price-to-earnings ratio of 13.84, a PEG ratio of 2.65 and a beta of 0.73.
Westlake Chemical Partners (NYSE:WLKP - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The basic materials company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by ($0.03). The company had revenue of $297.12 million for the quarter, compared to analyst estimates of $301.00 million. Westlake Chemical Partners had a return on equity of 6.38% and a net margin of 4.78%. As a group, research analysts forecast 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 Wednesday, August 27th. Stockholders of record on Tuesday, August 12th were given a dividend of $0.4714 per share. This represents a $1.89 dividend on an annualized basis and a dividend yield of 9.1%. The ex-dividend date was Tuesday, August 12th. Westlake Chemical Partners's dividend payout ratio is presently 126.17%.
Insider Buying and Selling at Westlake Chemical Partners
In related news, CEO Jean-Marc Gilson purchased 1,250 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were acquired at an average cost of $21.86 per share, for a total transaction of $27,325.00. Following the transaction, the chief executive officer owned 10,458 shares of the company's stock, valued at $228,611.88. This trade represents a 13.58% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company's stock.
Institutional Trading of Westlake Chemical Partners
Large investors have recently added to or reduced their stakes in the business. Sound Income Strategies LLC acquired a new stake in Westlake Chemical Partners in the 2nd quarter valued at approximately $32,000. U.S. Capital Wealth Advisors LLC acquired a new stake in Westlake Chemical Partners in the 1st quarter valued at approximately $231,000. Osaic Holdings Inc. increased its position in Westlake Chemical Partners by 45.8% in the 2nd quarter. Osaic Holdings Inc. now owns 10,153 shares of the basic materials company's stock valued at $224,000 after acquiring an additional 3,187 shares during the period. Apollon Wealth Management LLC increased its position in Westlake Chemical Partners by 7.3% in the 1st quarter. Apollon Wealth Management LLC now owns 16,547 shares of the basic materials company's stock valued at $382,000 after acquiring an additional 1,126 shares during the period. Finally, Jane Street Group LLC acquired a new stake in Westlake Chemical Partners in the 2nd quarter valued at approximately $387,000. 78.28% of the stock is currently owned by institutional investors and hedge funds.
Westlake Chemical Partners Company Profile
(
Get Free Report)
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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