Charles Schwab Investment Management Inc. Boosts Position in Westlake Co. (NYSE:WLK)

Charles Schwab Investment Management Inc. increased its holdings in shares of Westlake Co. (NYSE:WLK) by 5.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 236,354 shares of the specialty chemicals company’s stock after purchasing an additional 11,992 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.18% of Westlake worth $27,098,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp increased its holdings in shares of Westlake by 0.8% in the third quarter. State Street Corp now owns 1,198,710 shares of the specialty chemicals company’s stock valued at $180,154,000 after purchasing an additional 9,838 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in Westlake by 699.1% during the third 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 during the period. Geode Capital Management LLC grew its holdings in 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 during the period. Ilex Capital Partners UK LLP acquired a new position in Westlake during the third quarter worth $55,542,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Westlake by 35.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 318,284 shares of the specialty chemicals company’s stock worth $47,835,000 after acquiring an additional 82,617 shares during the period. Hedge funds and other institutional investors own 28.40% of the company’s stock.

Westlake Price Performance

WLK stock opened at $107.57 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.04 and a current ratio of 2.79. Westlake Co. has a 1 year low of $104.74 and a 1 year high of $162.64. The firm has a market cap of $13.79 billion, a P/E ratio of 151.50, a price-to-earnings-growth ratio of 2.36 and a beta of 1.18. The stock has a 50-day simple moving average of $112.69 and a 200-day simple moving average of $125.28.

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

Westlake Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Tuesday, March 4th will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Tuesday, March 4th. Westlake’s dividend payout ratio (DPR) is 45.36%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. BMO Capital Markets lowered their target price on Westlake from $157.00 to $132.00 and set a “market perform” rating on the stock in a report on Wednesday, February 26th. Morgan Stanley lowered their target price on Westlake from $130.00 to $122.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. JPMorgan Chase & Co. raised Westlake from an “underweight” rating to a “neutral” rating and lowered their target price for the company from $135.00 to $110.00 in a report on Thursday, February 27th. Wells Fargo & Company lowered their target price on Westlake from $160.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, February 25th. Finally, Truist Financial reduced their price objective on Westlake from $168.00 to $166.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $140.07.

Westlake 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.