Westlake Chemical Partners LP (NYSE:WLKP) Shares Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC grew its position in shares of Westlake Chemical Partners LP (NYSE:WLKP - Free Report) by 2,141.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,763 shares of the basic materials company's stock after acquiring an additional 31,301 shares during the period. International Assets Investment Management LLC owned about 0.09% of Westlake Chemical Partners worth $734,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Pathway Financial Advisers LLC purchased a new position in shares of Westlake Chemical Partners in the 1st quarter valued at approximately $2,169,000. GSA Capital Partners LLP boosted its holdings in shares of Westlake Chemical Partners by 10.7% during the 1st quarter. GSA Capital Partners LLP now owns 38,427 shares of the basic materials company's stock valued at $853,000 after buying an additional 3,713 shares in the last quarter. Rothschild Investment LLC purchased a new stake in shares of Westlake Chemical Partners in the 2nd quarter worth about $181,000. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Westlake Chemical Partners in the 3rd quarter worth about $78,000. Hedge funds and other institutional investors own 78.28% of the company's stock.

Wall Street Analyst Weigh In

Separately, Barclays raised Westlake Chemical Partners to a "strong-buy" rating in a report on Monday, August 12th.

Insider Buying and Selling

In other Westlake Chemical Partners news, SVP Andrew Kenner purchased 2,692 shares of the company's stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $22.63 per share, for a total transaction of $60,919.96. Following the completion of the purchase, the senior vice president now directly owns 185,000 shares in the company, valued at approximately $4,186,550. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders acquired 16,119 shares of company stock valued at $369,340. 1.10% of the stock is currently owned by insiders.

Westlake Chemical Partners Stock Down 0.6 %

Shares of NYSE WLKP traded down $0.13 during midday trading on Wednesday, reaching $22.32. 55,528 shares of the company's stock traded hands, compared to its average volume of 45,572. The company has a market cap of $786.33 million, a price-to-earnings ratio of 13.86 and a beta of 1.10. The stock's 50 day simple moving average is $22.41 and its 200-day simple moving average is $22.54. Westlake Chemical Partners LP has a one year low of $21.16 and a one year high of $23.68. The company has a quick ratio of 4.59, a current ratio of 4.68 and a debt-to-equity ratio of 0.48.

Westlake Chemical Partners (NYSE:WLKP - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.15. Westlake Chemical Partners had a net margin of 4.78% and a return on equity of 6.68%. The company had revenue of $277.00 million during the quarter, compared to analyst estimates of $244.16 million. During the same period last year, the firm posted $0.37 EPS. On average, analysts predict that Westlake Chemical Partners LP will post 1.55 EPS for the current fiscal year.

Westlake Chemical Partners Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.471 per share. This represents a $1.88 annualized dividend and a dividend yield of 8.44%. The ex-dividend date is Tuesday, November 12th. Westlake Chemical Partners's payout ratio is presently 117.39%.

About Westlake Chemical Partners

Westlake Chemical Partners LP acquires, develops, and operates ethylene production facilities and related assets in the United States. The company's ethylene production facilities primarily convert ethane into ethylene. It also sells ethylene co-products, such as propylene, crude butadiene, pyrolysis gasoline, and hydrogen directly to third parties on either a spot or contract basis.