Union Bancaire Privee UBP SA Invests $361,000 in Westlake Co. (NYSE:WLK)

Union Bancaire Privee UBP SA purchased a new position in shares of Westlake Co. (NYSE:WLK) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,346 shares of the specialty chemicals company’s stock, valued at approximately $361,000.

Several other institutional investors and hedge funds also recently made changes to their positions in WLK. Jacobs Levy Equity Management Inc. boosted its stake in Westlake by 699.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 595,149 shares of the specialty chemicals company’s stock worth $89,445,000 after purchasing an additional 520,669 shares during the period. Ilex Capital Partners UK LLP bought a new position in Westlake in the 3rd quarter worth about $55,542,000. Erste Asset Management GmbH bought a new position in Westlake in the 3rd quarter worth about $19,718,000. SG Americas Securities LLC bought a new position in Westlake in the 4th quarter worth about $11,480,000. Finally, Janus Henderson Group PLC boosted its stake in Westlake by 84.0% in the 3rd quarter. Janus Henderson Group PLC now owns 201,405 shares of the specialty chemicals company’s stock worth $30,269,000 after purchasing an additional 91,973 shares during the period. Institutional investors own 28.40% of the company’s stock.

Westlake Stock Performance

Shares of NYSE WLK opened at $109.59 on Tuesday. The stock has a market cap of $14.10 billion, a price-to-earnings ratio of 154.35, a P/E/G ratio of 2.36 and a beta of 1.17. The company has a current ratio of 2.79, a quick ratio of 2.04 and a debt-to-equity ratio of 0.41. Westlake Co. has a 1-year low of $104.74 and a 1-year high of $162.64. The stock’s 50-day moving average is $114.08 and its 200 day moving average is $129.12.

Westlake Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Tuesday, March 4th will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.92%. Westlake’s dividend payout ratio is 295.77%.

Analyst Ratings Changes

WLK has been the subject of several analyst reports. Wells Fargo & Company cut their target price on Westlake from $180.00 to $160.00 and set an “overweight” rating for the company in a research note on Wednesday, November 6th. Morgan Stanley cut their target price on Westlake from $155.00 to $130.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. StockNews.com raised Westlake from a “sell” rating to a “hold” rating in a report on Tuesday, November 26th. Citigroup raised Westlake from a “neutral” rating to a “buy” rating and lowered their price target for the company from $152.00 to $140.00 in a report on Wednesday, December 18th. Finally, Piper Sandler lowered their price target on Westlake from $155.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $155.79.

Insider Activity at Westlake

In related news, Director David Tsung-Hung Chao sold 1,750 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $129.08, for a total transaction of $225,890.00. Following the transaction, the director now directly owns 7,784 shares of the company’s stock, valued at approximately $1,004,758.72. This trade represents a 18.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 74.10% of the stock is currently owned by insiders.

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.