Westlake Chemical Partners LP (NYSE:WLKP) major shareholder Ttwfgp Llc purchased 1,401,869 shares of the firm’s stock in a transaction dated Friday, March 29th. The stock was acquired at an average cost of $21.40 per share, with a total value of $29,999,996.60. Following the completion of the acquisition, the insider now directly owns 1,401,869 shares in the company, valued at approximately $29,999,996.60. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Westlake Chemical Partners stock traded down $0.12 during midday trading on Wednesday, reaching $22.63. 24,648 shares of the stock traded hands, compared to its average volume of 57,040. The company has a quick ratio of 4.98, a current ratio of 5.07 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $736.26 million, a price-to-earnings ratio of 15.00, a PEG ratio of 3.80 and a beta of 0.62. Westlake Chemical Partners LP has a fifty-two week low of $20.25 and a fifty-two week high of $27.75.
Westlake Chemical Partners (NYSE:WLKP) last posted its earnings results on Tuesday, February 19th. The basic materials company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The firm had revenue of $335.73 million for the quarter, compared to analyst estimates of $288.95 million. Westlake Chemical Partners had a net margin of 3.84% and a return on equity of 5.16%. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.46 earnings per share. Research analysts expect that Westlake Chemical Partners LP will post 2.14 earnings per share for the current year.
Separately, Zacks Investment Research raised shares of Westlake Chemical Partners from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Saturday, January 12th.
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Westlake Chemical Partners Company Profile
Westlake Chemical Partners LP acquires, develops, and operates ethylene production facilities and related assets in the United States. The company's ethylene production facilities primarily convert ethane into ethylene. It also sells ethylene co-products, including propylene, crude butadiene, pyrolysis gasoline, and hydrogen directly to third parties on a spot or contract basis.
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