Blue Trust Inc. Increases Position in Westlake Co. (NYSE:WLK)

Blue Trust Inc. lifted its holdings in shares of Westlake Co. (NYSE:WLK) by 247.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 226 shares of the specialty chemicals company’s stock after acquiring an additional 161 shares during the quarter. Blue Trust Inc.’s holdings in Westlake were worth $26,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Geode Capital Management LLC grew its stake in Westlake by 4.5% in the 3rd quarter. Geode Capital Management LLC now owns 552,646 shares of the specialty chemicals company’s stock valued at $82,837,000 after purchasing an additional 23,558 shares during the period. Janney Montgomery Scott LLC grew its position in Westlake by 27.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 59,499 shares of the specialty chemicals company’s stock valued at $6,822,000 after buying an additional 12,833 shares during the period. Cetera Investment Advisers increased its holdings in Westlake by 134.4% during the second quarter. Cetera Investment Advisers now owns 7,612 shares of the specialty chemicals company’s stock worth $1,102,000 after buying an additional 4,364 shares during the last quarter. BNP Paribas Financial Markets raised its position in Westlake by 15.2% in the third quarter. BNP Paribas Financial Markets now owns 49,085 shares of the specialty chemicals company’s stock worth $7,377,000 after acquiring an additional 6,476 shares during the period. Finally, Wedge Capital Management L L P NC raised its position in Westlake by 7.5% in the fourth quarter. Wedge Capital Management L L P NC now owns 79,178 shares of the specialty chemicals company’s stock worth $9,078,000 after acquiring an additional 5,512 shares during the period. 28.40% of the stock is currently owned by institutional investors.

Westlake Price Performance

Shares of NYSE:WLK opened at $111.06 on Tuesday. Westlake Co. has a 12 month low of $108.56 and a 12 month high of $162.64. The company has a current ratio of 2.79, a quick ratio of 2.04 and a debt-to-equity ratio of 0.41. The stock has a market cap of $14.30 billion, a P/E ratio of 156.43, a P/E/G ratio of 2.40 and a beta of 1.17. The company has a 50 day moving average of $116.07 and a 200 day moving average of $131.24.

Westlake Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 26th were issued a $0.525 dividend. The ex-dividend date of this dividend was Tuesday, November 26th. This represents a $2.10 annualized dividend and a dividend yield of 1.89%. Westlake’s payout ratio is currently 295.77%.

Insider Buying and Selling

In related news, Director David Tsung-Hung Chao sold 1,750 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $129.08, for a total value of $225,890.00. Following the transaction, the director now directly owns 7,784 shares in the company, valued at approximately $1,004,758.72. This represents a 18.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 74.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Westlake from $180.00 to $160.00 and set an “overweight” rating for the company in a research note on Wednesday, November 6th. BMO Capital Markets decreased their target price on Westlake from $171.00 to $165.00 and set a “market perform” rating for the company in a research report on Wednesday, November 13th. Truist Financial began coverage on Westlake in a research note on Tuesday, January 28th. They issued a “buy” rating and a $168.00 target price on the stock. StockNews.com upgraded Westlake from a “sell” rating to a “hold” rating in a research note on Tuesday, November 26th. Finally, Morgan Stanley lowered their price objective on Westlake from $155.00 to $130.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Westlake has a consensus rating of “Moderate Buy” and an average target price of $155.79.

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.