Westlake Chemical Co. (WLK) Shares Bought by Wells Fargo & Company MN

Wells Fargo & Company MN boosted its stake in shares of Westlake Chemical Co. (NYSE:WLK) by 13.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 76,709 shares of the specialty chemicals company’s stock after buying an additional 8,812 shares during the period. Wells Fargo & Company MN owned approximately 0.06% of Westlake Chemical worth $6,374,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Private Advisor Group LLC raised its holdings in shares of Westlake Chemical by 3.1% in the second quarter. Private Advisor Group LLC now owns 3,388 shares of the specialty chemicals company’s stock valued at $229,000 after purchasing an additional 103 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Westlake Chemical by 5.7% in the second quarter. The Manufacturers Life Insurance Company now owns 3,922 shares of the specialty chemicals company’s stock valued at $260,000 after purchasing an additional 211 shares during the last quarter. Voya Investment Management LLC raised its holdings in shares of Westlake Chemical by 2.5% in the second quarter. Voya Investment Management LLC now owns 11,852 shares of the specialty chemicals company’s stock valued at $785,000 after purchasing an additional 286 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Westlake Chemical by 4.5% in the second quarter. SG Americas Securities LLC now owns 6,805 shares of the specialty chemicals company’s stock valued at $451,000 after purchasing an additional 296 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Westlake Chemical by 6.8% in the second quarter. Principal Financial Group Inc. now owns 6,805 shares of the specialty chemicals company’s stock valued at $451,000 after purchasing an additional 435 shares during the last quarter. Hedge funds and other institutional investors own 30.41% of the company’s stock.

Westlake Chemical Co. (NYSE:WLK) opened at $106.53 on Tuesday. The firm has a market cap of $13,740.00, a price-to-earnings ratio of 23.11, a P/E/G ratio of 1.83 and a beta of 1.72. Westlake Chemical Co. has a fifty-two week low of $55.83 and a fifty-two week high of $107.51. The company has a current ratio of 2.31, a quick ratio of 1.59 and a debt-to-equity ratio of 0.74.

The company also recently announced a quarterly dividend, which was paid on Monday, December 11th. Investors of record on Monday, November 27th were issued a dividend of $0.21 per share. The ex-dividend date was Friday, November 24th. This represents a $0.84 dividend on an annualized basis and a yield of 0.79%. Westlake Chemical’s payout ratio is 18.22%.

In other Westlake Chemical news, SVP George J. Mangieri sold 13,381 shares of Westlake Chemical stock in a transaction on Monday, November 13th. The shares were sold at an average price of $94.44, for a total transaction of $1,263,701.64. Following the completion of the transaction, the senior vice president now directly owns 10,195 shares of the company’s stock, valued at $962,815.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Robert F. Buesinger sold 2,674 shares of Westlake Chemical stock in a transaction on Friday, December 1st. The stock was sold at an average price of $98.50, for a total transaction of $263,389.00. Following the transaction, the executive vice president now directly owns 6,635 shares of the company’s stock, valued at $653,547.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 293,122 shares of company stock valued at $27,721,443. Company insiders own 72.50% of the company’s stock.

WLK has been the topic of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $114.00 price objective (up from $103.00) on shares of Westlake Chemical in a report on Thursday, November 9th. SunTrust Banks lifted their price objective on shares of Westlake Chemical from $102.00 to $113.00 and gave the company a “buy” rating in a report on Tuesday, December 19th. They noted that the move was a valuation call. Nomura upgraded shares of Westlake Chemical from a “neutral” rating to a “buy” rating and set a $98.00 target price on the stock in a report on Tuesday, September 26th. UBS Group restated a “sell” rating and set a $61.00 target price on shares of Westlake Chemical in a report on Wednesday, November 8th. Finally, Deutsche Bank restated a “buy” rating and set a $115.00 target price on shares of Westlake Chemical in a report on Wednesday, December 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $101.15.

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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.

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Institutional Ownership by Quarter for Westlake Chemical (NYSE:WLK)

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