C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Makes New $534,000 Investment in Westlake Co. (NYSE:WLK)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in Westlake Co. (NYSE:WLK - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 4,658 shares of the specialty chemicals company's stock, valued at approximately $534,000.

A number of other institutional investors have also made changes to their positions in WLK. Jacobs Levy Equity Management Inc. increased its stake in shares of Westlake by 699.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 595,149 shares of the specialty chemicals company's stock worth $89,445,000 after purchasing an additional 520,669 shares during the period. Ilex Capital Partners UK LLP bought a new position in Westlake during the third quarter valued at about $55,542,000. Erste Asset Management GmbH bought a new position in Westlake during the third quarter valued at about $19,718,000. Assenagon Asset Management S.A. bought a new position in Westlake during the third quarter valued at about $15,295,000. Finally, SG Americas Securities LLC bought a new position in Westlake during the fourth quarter valued at about $11,480,000. 28.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WLK. StockNews.com raised Westlake from a "sell" rating to a "hold" rating in a report on Tuesday, November 26th. BMO Capital Markets reduced their price objective on Westlake from $171.00 to $165.00 and set a "market perform" rating on the stock in a report on Wednesday, November 13th. Piper Sandler reduced their price objective on Westlake from $155.00 to $135.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Wells Fargo & Company reduced their price objective on Westlake from $180.00 to $160.00 and set an "overweight" rating on the stock in a report on Wednesday, November 6th. Finally, UBS Group raised Westlake from a "neutral" rating to a "buy" rating and set a $144.00 price objective on the stock in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $155.79.

Westlake Trading Down 1.7 %

Shares of WLK traded down $1.88 during trading hours on Friday, reaching $109.52. The stock had a trading volume of 387,869 shares, compared to its average volume of 562,744. The company has a quick ratio of 2.04, a current ratio of 2.79 and a debt-to-equity ratio of 0.41. Westlake Co. has a 52 week low of $108.56 and a 52 week high of $162.64. The firm has a 50-day moving average of $114.44 and a 200 day moving average of $129.74. The company has a market cap of $14.10 billion, a P/E ratio of 154.25, a P/E/G ratio of 2.41 and a beta of 1.17.

Insider Activity at Westlake

In other Westlake news, Director David Tsung-Hung Chao sold 1,750 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $129.08, for a total transaction of $225,890.00. Following the completion of the transaction, the director now owns 7,784 shares in the company, valued at approximately $1,004,758.72. This represents a 18.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 74.10% of the stock is owned by corporate insiders.

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.