1 week Ago By Defense World Staff
Prudential Financial Inc. reduced its holdings in shares of Westlake Co. (NYSE:WLK – Free Report) by 42.
6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 4,136 shares of the specialty chemicals company’s stock after selling 3,073 shares during the period. Prudential Financial Inc.
’s holdings in Westlake were worth $474,000 as of its most recent filing with the SEC. A number of other institutional investors also recently bought and sold shares of WLK. Continuum Advisory LLC raised its stake in shares of 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 purchasing an additional 96 shares during the last quarter. Pacer Advisors Inc.
increased its stake in shares of Westlake by 2.4% during the fourth quarter. Pacer Advisors Inc.
now owns 4,988 shares of the specialty chemicals company’s stock worth $572,000 after acquiring an additional 115 shares during the period. Arizona State Retirement System raised its holdings in Westlake by 1.4% during the fourth quarter.
Arizona State Retirement System now owns 11,204 shares of the specialty chemicals company’s stock worth $1,285,000 after purchasing an additional 153 shares in the last quarter. Blue Trust Inc. lifted its position in Westlake by 247.
7% in the fourth quarter. Blue Trust Inc. now owns 226 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 161 shares during the period.
Finally, State of Michigan Retirement System boosted its holdings in Westlake by 2.3% in the 4th quarter. State of Michigan Retirement System now owns 8,900 shares of the specialty chemicals company’s stock valued at $1,020,000 after purchasing an additional 200 shares in the last quarter.
28.40% of the stock is currently owned by institutional investors and hedge funds. Westlake Stock Up 13.
1 %WLK opened at $93.96 on Thursday. The business’s fifty day simple moving average is $105.
60 and its 200 day simple moving average is $119.75. Westlake Co.
has a 52 week low of $81.41 and a 52 week high of $161.31.
The firm has a market cap of $12.07 billion, a P/E ratio of 132.34, a PEG ratio of 2.
36 and a beta of 1.02. The company has a quick ratio of 2.
04, a current ratio of 2.79 and a debt-to-equity ratio of 0.41.
Westlake (NYSE:WLK – Get Free Report) last posted 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). The firm had revenue of $2.
84 billion during the quarter, compared to analyst estimates of $3.01 billion. Westlake had a net margin of 0.
81% and a return on equity of 6.93%. The business’s quarterly revenue was up .
6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.72 EPS.
As a group, equities research analysts anticipate that Westlake Co. will post 6.48 EPS for the current fiscal year.
Westlake Announces DividendThe firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Tuesday, March 4th were given a $0.525 dividend.
This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.23%.
The ex-dividend date of this dividend was Tuesday, March 4th. Westlake’s dividend payout ratio is currently 45.36%.
Wall Street Analysts Forecast GrowthWLK has been the subject of several recent analyst reports. Morgan Stanley reduced their price target on Westlake from $130.00 to $122.
00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Truist Financial decreased their target price on shares of Westlake from $166.00 to $155.
00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Bank of America cut their price target on shares of Westlake from $134.00 to $116.
00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Piper Sandler reissued a “neutral” rating and set a $105.00 price objective (down previously from $120.
00) on shares of Westlake in a report on Monday. Finally, UBS Group dropped their target price on shares of Westlake from $144.00 to $127.
00 and set a “buy” rating for the company in a report on Monday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $131.
15.Read Our Latest Analysis on WLKWestlake Profile (Free Report)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.
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