C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Acquires Shares of 4,658 Westlake Co. (NYSE:WLK)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Westlake Co. (NYSE:WLK - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,658 shares of the specialty chemicals company's stock, valued at approximately $534,000.

A number of other hedge funds have also made changes to their positions in the stock. State Street Corp increased its holdings in shares of Westlake by 0.8% during the 3rd quarter. State Street Corp now owns 1,198,710 shares of the specialty chemicals company's stock valued at $180,154,000 after acquiring an additional 9,838 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Westlake by 699.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 595,149 shares of the specialty chemicals company's stock valued at $89,445,000 after acquiring an additional 520,669 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Westlake by 4.5% during the 3rd quarter. Geode Capital Management LLC now owns 552,646 shares of the specialty chemicals company's stock valued at $82,837,000 after acquiring an additional 23,558 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Westlake by 90.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 386,480 shares of the specialty chemicals company's stock valued at $58,084,000 after acquiring an additional 183,666 shares during the last quarter. Finally, Ilex Capital Partners UK LLP acquired a new position in shares of Westlake during the 3rd quarter valued at about $55,542,000. Institutional investors and hedge funds own 28.40% of the company's stock.

Westlake Price Performance

Shares of Westlake stock traded up $2.72 during midday trading on Monday, hitting $115.30. 919,565 shares of the company were exchanged, compared to its average volume of 519,319. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.79 and a quick ratio of 2.04. The firm has a market cap of $14.84 billion, a P/E ratio of 162.40, a PEG ratio of 2.40 and a beta of 1.17. Westlake Co. has a 52 week low of $108.56 and a 52 week high of $162.64. The firm has a 50 day simple moving average of $114.88 and a 200-day simple moving average of $130.13.

Insider Buying and Selling

In related news, Director David Tsung-Hung Chao sold 1,750 shares of the firm's stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $130.00, for a total transaction of $227,500.00. Following the completion of the transaction, the director now owns 9,534 shares in the company, valued at $1,239,420. This trade represents a 15.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 74.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WLK. Royal Bank of Canada lowered their target price on Westlake from $170.00 to $167.00 and set an "outperform" rating on the stock in a report on Monday, November 11th. UBS Group raised Westlake from a "neutral" rating to a "buy" rating and set a $144.00 target price on the stock in a report on Friday, January 10th. BMO Capital Markets lowered their target price on Westlake from $171.00 to $165.00 and set a "market perform" rating on the stock in a report on Wednesday, November 13th. Wells Fargo & Company lowered their target price on Westlake from $180.00 to $160.00 and set an "overweight" rating on the stock in a report on Wednesday, November 6th. Finally, Piper Sandler lowered their target price on Westlake from $155.00 to $135.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $155.79.

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.