Susquehanna Fundamental Investments LLC Acquires 13,991 Shares of Westlake Co. (NYSE:WLK)

Susquehanna Fundamental Investments LLC grew its stake in Westlake Co. (NYSE:WLK - Free Report) by 65.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,285 shares of the specialty chemicals company's stock after acquiring an additional 13,991 shares during the period. Susquehanna Fundamental Investments LLC's holdings in Westlake were worth $5,110,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of WLK. UBS Group AG grew its position in Westlake by 54.4% during the fourth quarter. UBS Group AG now owns 48,169 shares of the specialty chemicals company's stock worth $6,742,000 after buying an additional 16,964 shares in the last quarter. Treasurer of the State of North Carolina increased its stake in shares of Westlake by 81.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 31,797 shares of the specialty chemicals company's stock valued at $4,450,000 after purchasing an additional 14,228 shares during the last quarter. TFO Wealth Partners LLC grew its holdings in shares of Westlake by 102,250.0% during the 4th quarter. TFO Wealth Partners LLC now owns 2,047 shares of the specialty chemicals company's stock valued at $280,000 after purchasing an additional 2,045 shares during the last quarter. Bank of Nova Scotia bought a new stake in shares of Westlake during the fourth quarter worth $255,000. Finally, KBC Group NV grew its position in Westlake by 460.4% during the 4th quarter. KBC Group NV now owns 85,008 shares of the specialty chemicals company's stock worth $11,898,000 after acquiring an additional 69,838 shares during the last quarter. Institutional investors own 28.40% of the company's stock.

Westlake Trading Down 0.1 %

Shares of NYSE WLK traded down $0.15 during trading on Monday, hitting $149.94. 313,181 shares of the company traded hands, compared to its average volume of 436,221. The company has a quick ratio of 1.94, a current ratio of 2.61 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $19.28 billion, a P/E ratio of 75.42, a P/E/G ratio of 1.95 and a beta of 1.18. The company has a 50-day moving average price of $143.48 and a 200-day moving average price of $148.74. Westlake Co. has a 1 year low of $112.77 and a 1 year high of $162.64.

Westlake (NYSE:WLK - Get Free Report) last released its earnings results on Tuesday, August 6th. The specialty chemicals company reported $2.40 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.41. The firm had revenue of $3.21 billion during the quarter, compared to analyst estimates of $3.22 billion. Westlake had a net margin of 2.27% and a return on equity of 7.84%. The firm's revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.31 earnings per share. On average, equities analysts predict that Westlake Co. will post 7.13 EPS for the current 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 issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 1.40%. This is a positive change from Westlake's previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, August 20th. Westlake's dividend payout ratio (DPR) is currently 105.53%.

Analysts Set New Price Targets

A number of research firms have recently commented on WLK. Barclays raised shares of Westlake from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $162.00 to $180.00 in a research note on Monday. Citigroup upped their target price on shares of Westlake from $162.00 to $168.00 and gave the stock a "neutral" rating in a research report on Friday, June 14th. UBS Group reduced their price target on shares of Westlake from $172.00 to $160.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 9th. Mizuho started coverage on Westlake in a report on Thursday, August 8th. They issued an "outperform" rating and a $170.00 price objective on the stock. Finally, Piper Sandler dropped their price target on shares of Westlake from $180.00 to $170.00 and set an "overweight" rating for the company in a research report on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Westlake currently has a consensus rating of "Hold" and a consensus price target of $167.50.

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.