Insider Selling: Westlake Chemical Co. (WLK) CFO Sells $635,895.00 in Stock

Westlake Chemical Co. (NYSE:WLK) CFO Mark Steven Bender sold 6,500 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $97.83, for a total transaction of $635,895.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Mark Steven Bender also recently made the following trade(s):

  • On Tuesday, November 21st, Mark Steven Bender sold 20,382 shares of Westlake Chemical stock. The shares were sold at an average price of $94.27, for a total transaction of $1,921,411.14.
  • On Monday, November 13th, Mark Steven Bender sold 29,804 shares of Westlake Chemical stock. The shares were sold at an average price of $94.02, for a total transaction of $2,802,172.08.

Westlake Chemical Co. (NYSE WLK) opened at $99.37 on Friday. Westlake Chemical Co. has a 12-month low of $55.83 and a 12-month high of $99.71. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.59 and a current ratio of 2.31. The company has a market cap of $12,705.46, a price-to-earnings ratio of 19.72, a PEG ratio of 1.78 and a beta of 1.71.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Monday, November 27th will be given a dividend of $0.21 per share. The ex-dividend date is Friday, November 24th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.85%. Westlake Chemical’s payout ratio is currently 18.26%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Private Advisor Group LLC lifted its position in shares of Westlake Chemical by 3.1% during the second quarter. Private Advisor Group LLC now owns 3,388 shares of the specialty chemicals company’s stock worth $229,000 after purchasing an additional 103 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Westlake Chemical by 5.7% during the second quarter. The Manufacturers Life Insurance Company now owns 3,922 shares of the specialty chemicals company’s stock worth $260,000 after purchasing an additional 211 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of Westlake Chemical by 2.5% during the second quarter. Voya Investment Management LLC now owns 11,852 shares of the specialty chemicals company’s stock worth $785,000 after purchasing an additional 286 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Westlake Chemical by 4.5% during the second quarter. SG Americas Securities LLC now owns 6,805 shares of the specialty chemicals company’s stock worth $451,000 after purchasing an additional 296 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Westlake Chemical by 6.8% during the second quarter. Principal Financial Group Inc. now owns 6,805 shares of the specialty chemicals company’s stock worth $451,000 after purchasing an additional 435 shares in the last quarter. 30.42% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have issued reports on WLK. Wells Fargo & Company reiterated a “positive” rating and set a $94.00 price objective (up from $77.00) on shares of Westlake Chemical in a research note on Wednesday, September 27th. Nomura upgraded shares of Westlake Chemical from a “neutral” rating to a “buy” rating and set a $98.00 price objective for the company in a research note on Tuesday, September 26th. SunTrust Banks reiterated a “buy” rating and set a $93.00 price objective on shares of Westlake Chemical in a research note on Thursday, September 28th. ValuEngine upgraded shares of Westlake Chemical from a “hold” rating to a “buy” rating in a research note on Tuesday, November 7th. Finally, Royal Bank Of Canada reiterated a “buy” rating on shares of Westlake Chemical in a research note on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $98.09.

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About Westlake Chemical

Westlake Chemical Corporation is a global manufacturer and marketer of basic chemicals, vinyls, polymers and building products. The Company’s products include a range of chemicals, which are fundamental to various consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, water treatment, refrigerants, residential and commercial construction, as well as other durable and non-durable goods.

Insider Buying and Selling by Quarter for Westlake Chemical (NYSE:WLK)

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