Pathway Financial Advisers LLC Has $49.98 Million Holdings in Westlake Chemical Partners LP (NYSE:WLKP)

Pathway Financial Advisers LLC lifted its holdings in Westlake Chemical Partners LP (NYSE:WLKP - Free Report) by 2,178.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,230,436 shares of the basic materials company's stock after purchasing an additional 2,132,523 shares during the quarter. Pathway Financial Advisers LLC owned 6.33% of Westlake Chemical Partners worth $49,984,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new stake in shares of Westlake Chemical Partners in the 2nd quarter valued at approximately $33,000. GSA Capital Partners LLP lifted its stake in Westlake Chemical Partners by 10.7% in the first quarter. GSA Capital Partners LLP now owns 38,427 shares of the basic materials company's stock valued at $853,000 after acquiring an additional 3,713 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of Westlake Chemical Partners in the 3rd quarter valued at about $78,000. Finally, Rothschild Investment LLC acquired a new position in shares of Westlake Chemical Partners during the 2nd quarter worth about $181,000. Institutional investors and hedge funds own 78.28% of the company's stock.

Analyst Upgrades and Downgrades

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

Westlake Chemical Partners Stock Performance

Westlake Chemical Partners stock traded down $0.02 during mid-day trading on Friday, hitting $22.46. 14,248 shares of the company's stock traded hands, compared to its average volume of 46,303. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.68 and a quick ratio of 4.59. The firm has a 50 day simple moving average of $22.45 and a two-hundred day simple moving average of $22.50. Westlake Chemical Partners LP has a fifty-two week low of $20.99 and a fifty-two week high of $23.68. The stock has a market cap of $791.22 million, a price-to-earnings ratio of 14.58 and a beta of 1.10.

Westlake Chemical Partners (NYSE:WLKP - Get Free Report) last announced its earnings results on Tuesday, August 6th. The basic materials company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.03). The company had revenue of $284.17 million for the quarter, compared to the consensus estimate of $270.28 million. Westlake Chemical Partners had a return on equity of 6.68% and a net margin of 4.78%. During the same period in the previous year, the firm posted $0.34 EPS. On average, research analysts expect that Westlake Chemical Partners LP will post 1.55 EPS for the current fiscal year.

Westlake Chemical Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 12th were issued a dividend of $0.4714 per share. The ex-dividend date was Monday, August 12th. This represents a $1.89 annualized dividend and a yield of 8.40%. Westlake Chemical Partners's payout ratio is currently 122.08%.

Insider Activity at Westlake Chemical Partners

In other Westlake Chemical Partners news, SVP Andrew Kenner purchased 2,692 shares of the firm's stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $22.63 per share, for a total transaction of $60,919.96. Following the completion of the purchase, the senior vice president now owns 185,000 shares of the company's stock, 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 is accessible through the SEC website. Insiders bought 16,119 shares of company stock worth $369,340 in the last ninety days. 1.10% of the stock is owned by company insiders.

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.