Walnut Level Capital LLC Boosts Stock Holdings in Westlake Co. (NYSE:WLK)

Walnut Level Capital LLC grew its position in Westlake Co. (NYSE:WLK) by 60.6% during the fourth quarter, HoldingsChannel reports. The firm owned 72,285 shares of the specialty chemicals company’s stock after buying an additional 27,285 shares during the period. Westlake comprises approximately 3.1% of Walnut Level Capital LLC’s portfolio, making the stock its 9th largest holding. Walnut Level Capital LLC’s holdings in Westlake were worth $8,287,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. boosted its stake in Westlake by 247.7% during the fourth quarter. Blue Trust Inc. now owns 226 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 161 shares in the last quarter. Continuum Advisory LLC boosted its stake in Westlake by 43.2% during the third quarter. Continuum Advisory LLC now owns 318 shares of the specialty chemicals company’s stock worth $48,000 after acquiring an additional 96 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Westlake by 6,316.7% in the fourth quarter. Allworth Financial LP now owns 385 shares of the specialty chemicals company’s stock valued at $45,000 after buying an additional 379 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Westlake in the third quarter valued at $62,000. Finally, GAMMA Investing LLC lifted its stake in shares of Westlake by 72.0% in the fourth quarter. GAMMA Investing LLC now owns 523 shares of the specialty chemicals company’s stock valued at $60,000 after buying an additional 219 shares in the last quarter. 28.40% of the stock is owned by institutional investors.

Westlake Stock Performance

NYSE WLK opened at $100.73 on Monday. Westlake Co. has a 52-week low of $99.18 and a 52-week high of $162.64. The company has a 50-day simple moving average of $112.03 and a 200 day simple moving average of $124.16. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.04 and a current ratio of 2.79. The company has a market capitalization of $12.92 billion, a PE ratio of 141.87, a price-to-earnings-growth ratio of 2.36 and a beta of 1.18.

Westlake (NYSE:WLK) last posted its quarterly earnings data on Monday, February 24th. The specialty chemicals company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.98). Westlake had a return on equity of 6.93% and a net margin of 0.81%. The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter last year, the business posted $0.72 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis. On average, research analysts predict that Westlake Co. will post 6.48 EPS for the current year.

Westlake Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Tuesday, March 4th were issued a dividend of $0.525 per share. The ex-dividend date was Tuesday, March 4th. This represents a $2.10 dividend on an annualized basis and a yield of 2.08%. Westlake’s dividend payout ratio (DPR) is presently 45.36%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on WLK shares. Morgan Stanley dropped their price objective on shares of Westlake from $130.00 to $122.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Citigroup raised shares of Westlake from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $152.00 to $140.00 in a research note on Wednesday, December 18th. Royal Bank of Canada dropped their price objective on shares of Westlake from $147.00 to $133.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. BMO Capital Markets dropped their price objective on shares of Westlake from $157.00 to $132.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company dropped their price objective on shares of Westlake from $160.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Westlake has an average rating of “Moderate Buy” and an average target price of $140.07.

Westlake Profile

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.