Financial Enhancement Group LLC Makes New Investment in Westlake Co. (NYSE:WLK)

Financial Enhancement Group LLC bought a new position in shares of Westlake Co. (NYSE:WLK - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 9,824 shares of the specialty chemicals company's stock, valued at approximately $1,476,000.

Other institutional investors have also added to or reduced their stakes in the company. Pathway Financial Advisers LLC acquired a new position in Westlake during the first quarter worth $43,000. Quest Partners LLC increased its holdings in Westlake by 8,400.0% during the second quarter. Quest Partners LLC now owns 340 shares of the specialty chemicals company's stock worth $49,000 after buying an additional 336 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in Westlake during the second quarter worth $66,000. UniSuper Management Pty Ltd increased its holdings in Westlake by 66.7% during the first quarter. UniSuper Management Pty Ltd now owns 500 shares of the specialty chemicals company's stock worth $76,000 after buying an additional 200 shares during the last quarter. Finally, nVerses Capital LLC acquired a new position in Westlake during the third quarter worth $75,000. 28.40% of the stock is currently owned by institutional investors and hedge funds.

Westlake Price Performance

WLK traded down $0.91 on Thursday, hitting $136.26. 690,935 shares of the stock were exchanged, compared to its average volume of 443,120. Westlake Co. has a 12 month low of $118.64 and a 12 month high of $162.64. The business has a 50-day moving average of $140.71 and a two-hundred day moving average of $146.30. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.61 and a quick ratio of 1.94. The firm has a market capitalization of $17.52 billion, a price-to-earnings ratio of 65.93, a PEG ratio of 1.83 and a beta of 1.19.

Westlake (NYSE:WLK - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The specialty chemicals company reported $1.41 earnings per share for the quarter, missing the consensus estimate of $2.21 by ($0.80). Westlake had a return on equity of 7.84% and a net margin of 2.27%. The firm had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same period in the prior year, the company earned $2.20 EPS. The company's revenue for the quarter was up .1% compared to the same quarter last year. Sell-side analysts forecast that Westlake Co. will post 7.28 EPS for the current fiscal year.

Westlake Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Tuesday, August 20th were given a dividend of $0.525 per share. This is a boost from Westlake's previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $2.10 annualized dividend and a yield of 1.54%. Westlake's dividend payout ratio is currently 100.96%.

Wall Street Analyst Weigh In

WLK has been the subject of a number of research analyst reports. Barclays raised shares of Westlake from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $162.00 to $180.00 in a research report on Monday, September 30th. Royal Bank of Canada reduced their price objective on shares of Westlake from $174.00 to $170.00 and set an "outperform" rating for the company in a research report on Friday, October 11th. Wells Fargo & Company reduced 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. BMO Capital Markets lifted their price objective on shares of Westlake from $167.00 to $171.00 and gave the stock a "market perform" rating in a research report on Tuesday, August 13th. Finally, Mizuho initiated coverage on shares of Westlake in a research report on Thursday, August 8th. They set an "outperform" rating and a $170.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $162.92.

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.