Yousif Capital Management LLC Sells 395 Shares of Westlake Co. (NYSE:WLK)

Yousif Capital Management LLC reduced its stake in shares of Westlake Co. (NYSE:WLK) by 3.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,187 shares of the specialty chemicals company’s stock after selling 395 shares during the period. Yousif Capital Management LLC’s holdings in Westlake were worth $1,397,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Jacobs Levy Equity Management Inc. raised its position in shares of 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 acquiring an additional 520,669 shares in the last quarter. Ilex Capital Partners UK LLP bought a new position in shares of Westlake in the 3rd quarter worth about $55,542,000. Allspring Global Investments Holdings LLC raised its position in shares of Westlake by 90.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 386,480 shares of the specialty chemicals company’s stock worth $58,084,000 after acquiring an additional 183,666 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in shares of Westlake in the 3rd quarter valued at about $19,718,000. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Westlake in the 3rd quarter valued at about $15,295,000. 28.40% of the stock is owned by institutional investors.

Westlake Price Performance

Shares of NYSE WLK opened at $111.09 on Thursday. The company has a quick ratio of 2.04, a current ratio of 2.79 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $14.30 billion, a PE ratio of 156.46, a PEG ratio of 2.40 and a beta of 1.17. The stock’s 50 day moving average price is $115.49 and its 200-day moving average price is $130.89. Westlake Co. has a twelve month low of $108.56 and a twelve month high of $162.64.

Westlake Dividend Announcement

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

Insider Activity at Westlake

In other Westlake news, Director David Tsung-Hung Chao sold 1,750 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $129.08, for a total transaction of $225,890.00. Following the sale, the director now owns 7,784 shares in the company, valued at $1,004,758.72. This represents a 18.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 74.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

WLK has been the subject of several research reports. Truist Financial initiated coverage on Westlake in a research note on Tuesday, January 28th. They issued a “buy” rating and a $168.00 target price for the company. Piper Sandler reduced their target price on Westlake from $155.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. StockNews.com upgraded Westlake from a “sell” rating to a “hold” rating in a research note on Tuesday, November 26th. Wells Fargo & Company cut their price target on Westlake from $180.00 to $160.00 and set an “overweight” rating for the company in a research note on Wednesday, November 6th. Finally, BMO Capital Markets cut their price target on Westlake from $171.00 to $165.00 and set a “market perform” rating for the company in a research note on Wednesday, November 13th. One investment 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $155.79.

Westlake Company 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.