82,251 Shares in Westlake Co. (NYSE:WLK) Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC purchased a new position in shares of Westlake Co. (NYSE:WLK) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 82,251 shares of the specialty chemicals company’s stock, valued at approximately $9,430,000. Proficio Capital Partners LLC owned 0.06% of Westlake as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Blue Trust Inc. increased its position in Westlake by 247.7% during the fourth quarter. Blue Trust Inc. now owns 226 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 161 shares during the period. Continuum Advisory LLC increased its position in Westlake by 43.2% during the third quarter. Continuum Advisory LLC now owns 318 shares of the specialty chemicals company’s stock worth $48,000 after acquiring an additional 96 shares during the period. Allworth Financial LP increased its holdings in Westlake by 6,316.7% in the 4th quarter. Allworth Financial LP now owns 385 shares of the specialty chemicals company’s stock valued at $45,000 after buying an additional 379 shares during the period. Brooklyn Investment Group bought a new position in Westlake in the 3rd quarter valued at about $62,000. Finally, GAMMA Investing LLC increased its holdings in Westlake by 72.0% in the 4th quarter. GAMMA Investing LLC now owns 523 shares of the specialty chemicals company’s stock valued at $60,000 after buying an additional 219 shares during the period. 28.40% of the stock is owned by institutional investors.

Westlake Stock Up 1.6 %

NYSE:WLK opened at $107.39 on Friday. The firm’s 50 day simple moving average is $112.81 and its 200 day simple moving average is $125.67. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.79 and a quick ratio of 2.04. Westlake Co. has a one year low of $104.74 and a one year high of $162.64. The company has a market cap of $13.77 billion, a PE ratio of 151.25, a P/E/G ratio of 2.36 and a beta of 1.18.

Westlake (NYSE:WLK) last issued its quarterly earnings results on Monday, February 24th. The specialty chemicals company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.98). Westlake had a return on equity of 6.93% and a net margin of 0.81%. The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same quarter last year, the firm posted $0.72 EPS. The firm’s revenue for the quarter was up .6% on a year-over-year basis. On average, research analysts anticipate that Westlake Co. will post 6.48 earnings per share for the current year.

Westlake Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Tuesday, March 4th will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Tuesday, March 4th. Westlake’s dividend payout ratio is currently 45.36%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Barclays decreased their target price on shares of Westlake from $175.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, February 25th. Piper Sandler decreased their target price on shares of Westlake from $155.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Citigroup raised shares of Westlake from a “neutral” rating to a “buy” rating and decreased their target price for the company from $152.00 to $140.00 in a report on Wednesday, December 18th. JPMorgan Chase & Co. upgraded shares of Westlake from an “underweight” rating to a “neutral” rating and reduced their price target for the company from $135.00 to $110.00 in a research note on Thursday, February 27th. Finally, Truist Financial reduced their price target on shares of Westlake from $168.00 to $166.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $140.07.

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.