Allspring Global Investments Holdings LLC cut its position in Westlake Co. (NYSE:WLK - Free Report) by 2.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 376,460 shares of the specialty chemicals company's stock after selling 10,020 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.29% of Westlake worth $42,212,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. raised its position in shares of Westlake by 247.7% in the 4th quarter. Blue Trust Inc. now owns 226 shares of the specialty chemicals company's stock valued at $26,000 after buying an additional 161 shares in the last quarter. Continuum Advisory LLC increased its position in Westlake by 43.2% during the 3rd quarter. Continuum Advisory LLC now owns 318 shares of the specialty chemicals company's stock worth $48,000 after purchasing an additional 96 shares in the last quarter. GAMMA Investing LLC increased its position in Westlake by 72.0% during the 4th quarter. GAMMA Investing LLC now owns 523 shares of the specialty chemicals company's stock worth $60,000 after purchasing an additional 219 shares in the last quarter. Versant Capital Management Inc increased its position in Westlake by 84.4% during the 4th quarter. Versant Capital Management Inc now owns 531 shares of the specialty chemicals company's stock worth $61,000 after purchasing an additional 243 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in Westlake during the 3rd quarter worth approximately $62,000. 28.40% of the stock is currently owned by institutional investors and hedge funds.
Westlake Trading Up 1.0 %
Shares of NYSE:WLK traded up $1.14 during trading on Tuesday, reaching $116.41. The stock had a trading volume of 264,052 shares, compared to its average volume of 542,518. The firm's fifty day moving average is $114.88 and its 200 day moving average is $130.13. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.04 and a current ratio of 2.79. Westlake Co. has a 52 week low of $108.56 and a 52 week high of $162.64. The stock has a market cap of $14.98 billion, a price-to-earnings ratio of 164.19, a P/E/G ratio of 2.40 and a beta of 1.17.
Insider Buying and Selling
In related news, Director David Tsung-Hung Chao sold 1,750 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $129.08, for a total transaction of $225,890.00. Following the transaction, the director now directly owns 7,784 shares of the company's stock, valued at $1,004,758.72. This represents a 18.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 74.10% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on WLK shares. Wells Fargo & Company lowered their price objective 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. UBS Group upgraded shares of Westlake from a "neutral" rating to a "buy" rating and set a $144.00 price objective for the company in a research report on Friday, January 10th. Royal Bank of Canada lowered their price objective on shares of Westlake from $170.00 to $167.00 and set an "outperform" rating for the company in a research report on Monday, November 11th. Piper Sandler lowered their price objective on shares of Westlake from $155.00 to $135.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Finally, Truist Financial began coverage on shares of Westlake in a report on Tuesday, January 28th. They set a "buy" rating and a $168.00 target price on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Westlake has an average rating of "Moderate Buy" and a consensus price target of $155.79.
View Our Latest Stock Report on WLK
Westlake Company 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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