Samalin Investment Counsel LLC Purchases 2,327 Shares of Westlake Chemical Partners LP (NYSE:WLKP)

Samalin Investment Counsel LLC grew its holdings in Westlake Chemical Partners LP (NYSE:WLKP) by 10.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 24,287 shares of the basic materials company’s stock after purchasing an additional 2,327 shares during the period. Samalin Investment Counsel LLC’s holdings in Westlake Chemical Partners were worth $562,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Proficio Capital Partners LLC acquired a new position in Westlake Chemical Partners during the 4th quarter worth approximately $1,874,000. JPMorgan Chase & Co. increased its holdings in shares of Westlake Chemical Partners by 267.0% during the third quarter. JPMorgan Chase & Co. now owns 98,437 shares of the basic materials company’s stock worth $2,206,000 after buying an additional 71,615 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Westlake Chemical Partners in the 4th quarter valued at $456,000. Glenmede Trust Co. NA boosted its holdings in shares of Westlake Chemical Partners by 22.0% during the 3rd quarter. Glenmede Trust Co. NA now owns 55,478 shares of the basic materials company’s stock valued at $1,243,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in Westlake Chemical Partners during the 4th quarter worth $211,000. 78.28% of the stock is owned by institutional investors and hedge funds.

Westlake Chemical Partners Stock Performance

Shares of WLKP stock opened at $23.21 on Monday. The firm has a market capitalization of $817.90 million, a price-to-earnings ratio of 13.26 and a beta of 1.09. The company has a current ratio of 4.53, a quick ratio of 4.46 and a debt-to-equity ratio of 0.48. The business’s 50-day moving average price is $23.96 and its 200-day moving average price is $23.23. Westlake Chemical Partners LP has a 12 month low of $21.19 and a 12 month high of $25.04.

Westlake Chemical Partners (NYSE:WLKP) last issued its quarterly earnings results on Monday, February 24th. The basic materials company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.07. The company had revenue of $290.06 million for the quarter, compared to analyst estimates of $262.00 million. Westlake Chemical Partners had a net margin of 5.40% and a return on equity of 7.31%. Equities research analysts forecast that Westlake Chemical Partners LP will post 1.55 EPS for the current year.

Westlake Chemical Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Friday, February 7th were paid a dividend of $0.4714 per share. The ex-dividend date was Friday, February 7th. This represents a $1.89 annualized dividend and a yield of 8.12%. This is a boost from Westlake Chemical Partners’s previous quarterly dividend of $0.47. Westlake Chemical Partners’s dividend payout ratio (DPR) is currently 106.21%.

Westlake Chemical Partners Company Profile

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.