9,100 Shares in Westlake Chemical Partners LP (NYSE:WLKP) Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC bought a new stake in Westlake Chemical Partners LP (NYSE:WLKP) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 9,100 shares of the basic materials company’s stock, valued at approximately $211,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Apollon Wealth Management LLC raised its holdings in Westlake Chemical Partners by 3.4% during the fourth quarter. Apollon Wealth Management LLC now owns 15,421 shares of the basic materials company’s stock valued at $357,000 after buying an additional 512 shares in the last quarter. Hilltop Holdings Inc. increased its holdings in shares of Westlake Chemical Partners by 2.7% during the 3rd quarter. Hilltop Holdings Inc. now owns 27,216 shares of the basic materials company’s stock valued at $610,000 after acquiring an additional 711 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Westlake Chemical Partners by 32.2% in the 4th quarter. Geneos Wealth Management Inc. now owns 3,337 shares of the basic materials company’s stock valued at $77,000 after acquiring an additional 812 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Westlake Chemical Partners in the 3rd quarter worth approximately $36,000. Finally, Glenmede Trust Co. NA boosted its position in Westlake Chemical Partners by 22.0% during the third quarter. Glenmede Trust Co. NA now owns 55,478 shares of the basic materials company’s stock worth $1,243,000 after purchasing an additional 10,000 shares during the period. Institutional investors and hedge funds own 78.28% of the company’s stock.

Westlake Chemical Partners Trading Down 0.9 %

Shares of WLKP stock opened at $24.20 on Wednesday. The company has a quick ratio of 4.46, a current ratio of 4.53 and a debt-to-equity ratio of 0.48. The business’s 50 day moving average is $23.74 and its two-hundred day moving average is $23.09. The company has a market cap of $852.61 million, a PE ratio of 13.83 and a beta of 1.09. 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.07. Westlake Chemical Partners had a return on equity of 7.31% and a net margin of 5.40%. The company had revenue of $290.06 million for the quarter, compared to the consensus estimate of $262.00 million. Equities analysts predict that Westlake Chemical Partners LP will post 1.55 EPS for the current year.

Westlake Chemical Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th were given a $0.4714 dividend. This is an increase from Westlake Chemical Partners’s previous quarterly dividend of $0.47. This represents a $1.89 annualized dividend and a yield of 7.79%. The ex-dividend date was Friday, February 7th. Westlake Chemical Partners’s payout ratio is currently 107.43%.

About Westlake Chemical Partners

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.