Alpha Windward LLC Has $411,000 Position in Westlake Chemical Co. (NYSE:WLK)

Alpha Windward LLC lifted its holdings in shares of Westlake Chemical Co. (NYSE:WLK) by 2,395.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,063 shares of the specialty chemicals company’s stock after purchasing an additional 5,820 shares during the quarter. Alpha Windward LLC’s holdings in Westlake Chemical were worth $411,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System lifted its stake in Westlake Chemical by 0.3% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 51,617 shares of the specialty chemicals company’s stock worth $3,415,000 after acquiring an additional 140 shares in the last quarter. Callahan Advisors LLC lifted its stake in Westlake Chemical by 6.7% during the 4th quarter. Callahan Advisors LLC now owns 4,290 shares of the specialty chemicals company’s stock worth $284,000 after acquiring an additional 270 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Westlake Chemical during the 1st quarter worth about $25,000. Nissay Asset Management Corp Japan ADV lifted its stake in Westlake Chemical by 12.6% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 4,206 shares of the specialty chemicals company’s stock worth $278,000 after acquiring an additional 472 shares in the last quarter. Finally, Penserra Capital Management LLC acquired a new position in Westlake Chemical during the 4th quarter worth about $37,000. Institutional investors and hedge funds own 28.14% of the company’s stock.

WLK stock traded up $0.50 during mid-day trading on Friday, reaching $61.00. The company had a trading volume of 916,300 shares, compared to its average volume of 981,408. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.40 and a quick ratio of 1.55. The firm has a market capitalization of $7.73 billion, a P/E ratio of 7.81, a P/E/G ratio of 0.74 and a beta of 1.44. Westlake Chemical Co. has a fifty-two week low of $57.71 and a fifty-two week high of $124.29.

Westlake Chemical (NYSE:WLK) last posted its quarterly earnings results on Thursday, May 2nd. The specialty chemicals company reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.44). Westlake Chemical had a net margin of 9.18% and a return on equity of 14.68%. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same period in the prior year, the business earned $2.20 EPS. Westlake Chemical’s revenue for the quarter was down 5.8% on a year-over-year basis. On average, analysts expect that Westlake Chemical Co. will post 7.13 EPS for the current year.

In other news, Director H John Riley, Jr. sold 3,327 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $69.92, for a total transaction of $232,623.84. Following the sale, the director now owns 22,652 shares of the company’s stock, valued at approximately $1,583,827.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 72.60% of the stock is currently owned by company insiders.

WLK has been the topic of several research reports. Cowen reissued a “market perform” rating and set a $68.00 target price (down previously from $78.00) on shares of Westlake Chemical in a research note on Monday. Nomura lowered Westlake Chemical from a “neutral” rating to a “reduce” rating and set a $72.00 target price on the stock. in a research note on Wednesday, January 30th. Barclays reissued a “buy” rating on shares of Westlake Chemical in a research note on Wednesday, February 20th. Cascend Securities initiated coverage on Westlake Chemical in a research note on Friday, April 5th. They set a “buy” rating and a $94.00 target price on the stock. Finally, Alembic Global Advisors set a $105.00 target price on Westlake Chemical and gave the stock a “buy” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $97.75.

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About Westlake Chemical

Westlake Chemical Corporation manufactures and markets basic chemicals, vinyls, polymers, and building products worldwide. It operates through two segments, Olefins and Vinyls. The Olefins segment offers polyethylene, styrene monomers, and various ethylene co-products, as well as sells propylene, crude butadiene, pyrolysis gasoline, and hydrogen products.

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

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