Westlake (NYSE:WLK) Reaches New 12-Month Low - Should You Sell?

Westlake Co. (NYSE:WLK - Get Free Report) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $89.96 and last traded at $92.43, with a volume of 691232 shares trading hands. The stock had previously closed at $93.38.

Analysts Set New Price Targets

WLK has been the subject of several research reports. Wells Fargo & Company cut their price target on Westlake from $110.00 to $95.00 and set an "overweight" rating for the company in a research note on Tuesday. Barclays reduced their target price on shares of Westlake from $135.00 to $100.00 and set an "overweight" rating for the company in a research note on Monday. Citigroup dropped their price target on shares of Westlake from $130.00 to $116.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. Piper Sandler reiterated a "neutral" rating and issued a $105.00 price objective (down from $120.00) on shares of Westlake in a research note on Monday, April 7th. Finally, JPMorgan Chase & Co. dropped their target price on Westlake from $110.00 to $82.00 and set a "neutral" rating on the stock in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Westlake presently has an average rating of "Moderate Buy" and an average price target of $112.08.

Westlake Trading Up 0.3 %

The stock has a market cap of $10.08 billion, a P/E ratio of 110.58, a PEG ratio of 2.36 and a beta of 1.03. The firm's fifty day moving average price is $97.72 and its two-hundred day moving average price is $112.64. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.79 and a quick ratio of 2.04.

Westlake (NYSE:WLK - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The specialty chemicals company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of $0.70 by ($1.01). Westlake had a net margin of 0.81% and a return on equity of 6.93%. The business had revenue of $2.85 billion during the quarter, compared to analysts' expectations of $2.97 billion. During the same period in the previous year, the business earned $1.34 EPS. The business's revenue was down 4.3% on a year-over-year basis. As a group, equities research analysts forecast that Westlake Co. will post 6.48 EPS for the current year.

Westlake Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Tuesday, March 4th were paid a $0.525 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $2.10 dividend on an annualized basis and a yield of 2.68%. Westlake's dividend payout ratio is presently 70.47%.

Institutional Trading of Westlake

Several institutional investors and hedge funds have recently made changes to their positions in WLK. Blue Trust Inc. boosted its stake in Westlake by 247.7% in the fourth quarter. Blue Trust Inc. now owns 226 shares of the specialty chemicals company's stock worth $26,000 after buying an additional 161 shares in the last quarter. Private Trust Co. NA boosted its stake in shares of Westlake by 251.1% in the 1st quarter. Private Trust Co. NA now owns 316 shares of the specialty chemicals company's stock valued at $32,000 after purchasing an additional 226 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Westlake by 6,316.7% during the 4th quarter. Allworth Financial LP now owns 385 shares of the specialty chemicals company's stock valued at $45,000 after purchasing an additional 379 shares during the last quarter. Transamerica Financial Advisors Inc. raised its position in Westlake by 1,668.2% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 389 shares of the specialty chemicals company's stock worth $45,000 after purchasing an additional 367 shares during the period. Finally, Signaturefd LLC lifted its stake in Westlake by 127.1% in the first quarter. Signaturefd LLC now owns 427 shares of the specialty chemicals company's stock worth $43,000 after purchasing an additional 239 shares during the last quarter. Hedge funds and other institutional investors own 28.40% of the company's stock.

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.