Entropy Technologies LP Sells 4,301 Shares of Westlake Co. (NYSE:WLK)

Entropy Technologies LP lowered its position in Westlake Co. (NYSE:WLK - Free Report) by 33.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,443 shares of the specialty chemicals company's stock after selling 4,301 shares during the quarter. Entropy Technologies LP's holdings in Westlake were worth $968,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Blue Trust Inc. lifted its position in shares of Westlake by 247.7% during the 4th quarter. Blue Trust Inc. now owns 226 shares of the specialty chemicals company's stock worth $26,000 after buying an additional 161 shares during the period. Continuum Advisory LLC lifted its position in shares of 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 buying an additional 96 shares during the period. GAMMA Investing LLC lifted its position in shares of 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 buying an additional 219 shares during the period. Versant Capital Management Inc raised its position in Westlake by 84.4% in the 4th quarter. Versant Capital Management Inc now owns 531 shares of the specialty chemicals company's stock valued at $61,000 after purchasing an additional 243 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in Westlake in the 3rd quarter valued at $62,000. Institutional investors own 28.40% of the company's stock.

Westlake Trading Up 2.4 %

WLK stock traded up $2.72 during midday trading on Friday, hitting $115.30. 919,565 shares of the company's stock were exchanged, compared to its average volume of 552,435. The stock's fifty day moving average price is $115.09 and its 200-day moving average price is $130.56. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.04 and a current ratio of 2.79. The company has a market cap of $14.84 billion, a PE ratio of 162.40, a price-to-earnings-growth ratio of 2.40 and a beta of 1.17. Westlake Co. has a one year low of $108.56 and a one year high of $162.64.

Analysts Set New Price Targets

Several brokerages have issued reports on WLK. Citigroup upgraded Westlake from a "neutral" rating to a "buy" rating and cut their price objective for the company from $152.00 to $140.00 in a research report on Wednesday, December 18th. Morgan Stanley cut their price objective on Westlake from $155.00 to $130.00 and set an "equal weight" rating for the company in a research report on Monday, January 13th. Piper Sandler lowered their target price on Westlake from $155.00 to $135.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. Truist Financial initiated coverage on Westlake in a research note on Tuesday, January 28th. They issued a "buy" rating and a $168.00 target price for the company. Finally, StockNews.com raised Westlake from a "sell" rating to a "hold" rating in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Westlake presently has an average rating of "Moderate Buy" and a consensus price target of $155.79.

Insiders Place Their Bets

In other Westlake news, Director David Tsung-Hung Chao sold 1,750 shares of Westlake stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $130.00, for a total transaction of $227,500.00. Following the transaction, the director now directly owns 9,534 shares in the company, valued at approximately $1,239,420. The trade was a 15.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 74.10% of the company's stock.

About Westlake

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.