B. Metzler seel. Sohn & Co. Holding AG Buys Shares of 9,000 Westlake Co. (NYSE:WLK)

B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Westlake Co. (NYSE:WLK - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 9,000 shares of the specialty chemicals company's stock, valued at approximately $1,353,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WLK. Pathway Financial Advisers LLC bought a new position in Westlake in the first quarter valued at approximately $43,000. Quest Partners LLC boosted its stake in shares of Westlake by 8,400.0% during the 2nd quarter. Quest Partners LLC now owns 340 shares of the specialty chemicals company's stock worth $49,000 after buying an additional 336 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of Westlake in the second quarter valued at about $66,000. nVerses Capital LLC acquired a new position in Westlake during the third quarter valued at approximately $75,000. Finally, UniSuper Management Pty Ltd grew its stake in Westlake by 66.7% in the first quarter. UniSuper Management Pty Ltd now owns 500 shares of the specialty chemicals company's stock valued at $76,000 after purchasing an additional 200 shares in the last quarter. 28.40% of the stock is currently owned by institutional investors.

Westlake Price Performance

NYSE:WLK traded up $1.29 during mid-day trading on Friday, reaching $130.45. The stock had a trading volume of 399,754 shares, compared to its average volume of 575,081. The stock has a 50-day simple moving average of $138.31 and a two-hundred day simple moving average of $144.59. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.79 and a quick ratio of 2.04. Westlake Co. has a 12 month low of $118.64 and a 12 month high of $162.64. The stock has a market capitalization of $16.79 billion, a PE ratio of 183.73, a P/E/G ratio of 2.50 and a beta of 1.19.

Westlake (NYSE:WLK - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The specialty chemicals company reported $1.41 earnings per share for the quarter, missing the consensus estimate of $2.21 by ($0.80). Westlake had a return on equity of 6.93% and a net margin of 0.81%. The business had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same quarter in the prior year, the company earned $2.20 earnings per share. Westlake's quarterly revenue was up .1% compared to the same quarter last year. On average, equities analysts anticipate that Westlake Co. will post 6.47 earnings per share for the current year.

Westlake Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 26th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Tuesday, November 26th. Westlake's dividend payout ratio is 295.77%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on WLK shares. Wells Fargo & Company cut their price target on shares of Westlake from $180.00 to $160.00 and set an "overweight" rating for the company in a research note on Wednesday, November 6th. Bank of America upgraded Westlake from an "underperform" rating to a "neutral" rating and increased their price target for the company from $151.00 to $159.00 in a research note on Wednesday, October 16th. Royal Bank of Canada decreased their price target on shares of Westlake from $170.00 to $167.00 and set an "outperform" rating on the stock in a research note on Monday, November 11th. Mizuho assumed coverage on Westlake in a report on Thursday, August 8th. They set an "outperform" rating and a $170.00 price target for the company. Finally, Piper Sandler decreased their price objective on Westlake from $180.00 to $170.00 and set an "overweight" rating on the stock in a report on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $162.17.

Westlake Profile

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.