APG Asset Management N.V. Takes Position in Westlake Co. (NYSE:WLK)

APG Asset Management N.V. purchased a new position in Westlake Co. (NYSE:WLK - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 19,900 shares of the specialty chemicals company's stock, valued at approximately $2,203,000.

A number of other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC lifted its position in shares of Westlake by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 557,943 shares of the specialty chemicals company's stock valued at $63,832,000 after acquiring an additional 5,297 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Westlake by 4.4% in the fourth quarter. Rhumbline Advisers now owns 98,056 shares of the specialty chemicals company's stock valued at $11,242,000 after purchasing an additional 4,088 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Westlake by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 236,354 shares of the specialty chemicals company's stock valued at $27,098,000 after purchasing an additional 11,992 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Westlake by 27.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 59,499 shares of the specialty chemicals company's stock valued at $6,822,000 after buying an additional 12,833 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Westlake by 21.0% during the fourth quarter. Victory Capital Management Inc. now owns 3,313,847 shares of the specialty chemicals company's stock valued at $379,933,000 after buying an additional 574,068 shares during the period. 28.40% of the stock is owned by hedge funds and other institutional investors.

Westlake Stock Performance

Westlake stock traded up $2.34 during trading hours on Thursday, reaching $92.66. 182,136 shares of the company were exchanged, compared to its average volume of 562,866. Westlake Co. has a 12 month low of $81.41 and a 12 month high of $161.31. The company has a current ratio of 2.79, a quick ratio of 2.04 and a debt-to-equity ratio of 0.41. The stock has a 50-day moving average of $103.42 and a 200 day moving average of $117.91. The firm has a market cap of $11.91 billion, a price-to-earnings ratio of 130.38, a PEG ratio of 2.36 and a beta of 1.02.

Westlake (NYSE:WLK - Get Free Report) last announced its earnings results on Monday, February 24th. The specialty chemicals company reported $0.06 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.98). The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $3.01 billion. Westlake had a return on equity of 6.93% and a net margin of 0.81%. The business's revenue was up .6% compared to the same quarter last year. During the same quarter last year, the business earned $0.72 EPS. As a group, research analysts anticipate that Westlake Co. will post 6.48 earnings per share for the current year.

Westlake Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Tuesday, March 4th were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date was Tuesday, March 4th. Westlake's dividend payout ratio (DPR) is currently 45.36%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Piper Sandler reaffirmed a "neutral" rating and set a $105.00 target price (down previously from $120.00) on shares of Westlake in a research note on Monday, April 7th. Truist Financial lowered their price objective on shares of Westlake from $155.00 to $132.00 and set a "buy" rating on the stock in a research report on Monday. Bank of America upgraded shares of Westlake from a "neutral" rating to a "buy" rating and cut their target price for the stock from $116.00 to $75.00 in a research report on Tuesday. JPMorgan Chase & Co. upgraded shares of Westlake from an "underweight" rating to a "neutral" rating and lowered their price target for the company from $135.00 to $110.00 in a report on Thursday, February 27th. Finally, StockNews.com lowered Westlake from a "hold" rating to a "sell" rating in a report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $126.23.

Westlake Company 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.