Choreo LLC Sells 155 Shares of Westlake Co. (NYSE:WLK)

Choreo LLC lessened its stake in Westlake Co. (NYSE:WLK) by 7.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,896 shares of the specialty chemicals company’s stock after selling 155 shares during the period. Choreo LLC’s holdings in Westlake were worth $215,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Geode Capital Management LLC raised its stake in shares of Westlake by 4.5% during the third quarter. Geode Capital Management LLC now owns 552,646 shares of the specialty chemicals company’s stock worth $82,837,000 after acquiring an additional 23,558 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in Westlake by 27.5% during the 4th 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. BNP Paribas Financial Markets raised its stake in shares of Westlake by 15.2% during the third quarter. BNP Paribas Financial Markets now owns 49,085 shares of the specialty chemicals company’s stock valued at $7,377,000 after acquiring an additional 6,476 shares during the last quarter. Wedge Capital Management L L P NC raised its position in Westlake by 7.5% during the 4th quarter. Wedge Capital Management L L P NC now owns 79,178 shares of the specialty chemicals company’s stock valued at $9,078,000 after purchasing an additional 5,512 shares during the last quarter. Finally, Manning & Napier Advisors LLC grew its position in shares of Westlake by 88.3% in the 4th quarter. Manning & Napier Advisors LLC now owns 18,789 shares of the specialty chemicals company’s stock worth $2,154,000 after buying an additional 8,813 shares during the last quarter. Hedge funds and other institutional investors own 28.40% of the company’s stock.

Insider Activity

In other news, Director David Tsung-Hung Chao sold 1,750 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $130.00, for a total transaction of $227,500.00. Following the transaction, the director now owns 9,534 shares of the company’s stock, valued at approximately $1,239,420. This represents a 15.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 74.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. UBS Group raised shares of Westlake from a “neutral” rating to a “buy” rating and set a $144.00 price target for the company in a research note on Friday, January 10th. Truist Financial initiated coverage on shares of Westlake in a research note on Tuesday, January 28th. They issued a “buy” rating and a $168.00 price target for the company. Citigroup upgraded shares of Westlake from a “neutral” rating to a “buy” rating and lowered their target price for the company from $152.00 to $140.00 in a report on Wednesday, December 18th. Morgan Stanley dropped their price target on shares of Westlake from $155.00 to $130.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Finally, Royal Bank of Canada dropped their target price on shares of Westlake from $170.00 to $167.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $155.79.

Westlake Stock Up 2.4 %

Shares of NYSE WLK opened at $115.30 on Friday. The firm’s 50-day moving average price is $115.09 and its 200-day moving average price is $130.46. 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 12-month low of $108.56 and a 12-month high of $162.64. The stock has a market capitalization of $14.84 billion, a price-to-earnings ratio of 162.40, a P/E/G ratio of 2.40 and a beta of 1.17.

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.