Aigen Investment Management LP Invests $736,000 in Westlake Co. (NYSE:WLK)

Aigen Investment Management LP bought a new stake in shares of Westlake Co. (NYSE:WLK - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,896 shares of the specialty chemicals company's stock, valued at approximately $736,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of WLK. Sei Investments Co. lifted its position in shares of Westlake by 19.2% in the 1st quarter. Sei Investments Co. now owns 14,771 shares of the specialty chemicals company's stock worth $2,257,000 after purchasing an additional 2,382 shares during the period. Avantax Advisory Services Inc. purchased a new position in shares of Westlake in the first quarter worth $207,000. State Board of Administration of Florida Retirement System lifted its position in Westlake by 8.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 34,153 shares of the specialty chemicals company's stock worth $5,219,000 after acquiring an additional 2,718 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Westlake by 1.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 22,179 shares of the specialty chemicals company's stock valued at $3,389,000 after acquiring an additional 258 shares during the last quarter. Finally, Midwest Professional Planners LTD. lifted its holdings in shares of Westlake by 13.1% in the 1st quarter. Midwest Professional Planners LTD. now owns 2,203 shares of the specialty chemicals company's stock valued at $337,000 after buying an additional 255 shares during the period. 28.40% of the stock is currently owned by hedge funds and other institutional investors.

Westlake Trading Down 1.7 %

Shares of WLK stock traded down $2.16 during trading hours on Thursday, hitting $126.10. 257,669 shares of the company were exchanged, compared to its average volume of 446,103. The company has a quick ratio of 2.04, a current ratio of 2.79 and a debt-to-equity ratio of 0.41. The firm has a market cap of $16.23 billion, a PE ratio of 179.68, a PEG ratio of 2.36 and a beta of 1.19. The firm has a fifty day moving average of $139.54 and a 200 day moving average of $145.66. Westlake Co. has a 1 year low of $118.64 and a 1 year high of $162.64.

Westlake (NYSE:WLK - Get Free Report) last posted its earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.21 by ($0.80). The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.31 billion. Westlake had a return on equity of 6.93% and a net margin of 0.81%. The firm's revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the company posted $2.20 EPS. Analysts expect that Westlake Co. will post 6.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on WLK shares. JPMorgan Chase & Co. increased their price target on shares of Westlake from $123.00 to $135.00 and gave the stock an "underweight" rating in a report on Thursday, August 15th. Wells Fargo & Company reduced their price target on shares of Westlake from $180.00 to $160.00 and set an "overweight" rating for the company in a research report on Wednesday, November 6th. BMO Capital Markets cut their price objective on Westlake from $171.00 to $165.00 and set a "market perform" rating for the company in a research note on Wednesday. Mizuho initiated coverage on shares of Westlake in a research note on Thursday, August 8th. They set an "outperform" rating and a $170.00 target price on the stock. Finally, Barclays raised shares of Westlake from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $162.00 to $180.00 in a research report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Westlake presently has an average rating of "Hold" and an average price target 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.