Pathway Financial Advisers LLC Raises Stock Position in Westlake Chemical Partners LP (NYSE:WLKP)

Pathway Financial Advisers LLC boosted its holdings in Westlake Chemical Partners LP (NYSE:WLKP - Free Report) by 2,178.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,230,436 shares of the basic materials company's stock after buying an additional 2,132,523 shares during the quarter. Westlake Chemical Partners makes up 0.5% of Pathway Financial Advisers LLC's holdings, making the stock its 26th biggest holding. Pathway Financial Advisers LLC owned approximately 6.33% of Westlake Chemical Partners worth $49,984,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WLKP. International Assets Investment Management LLC grew its stake in Westlake Chemical Partners by 2,141.0% during the third quarter. International Assets Investment Management LLC now owns 32,763 shares of the basic materials company's stock worth $734,000 after purchasing an additional 31,301 shares during the period. Future Financial Wealth Managment LLC acquired a new position in shares of Westlake Chemical Partners during the third quarter valued at about $78,000. Rothschild Investment LLC bought a new position in shares of Westlake Chemical Partners during the 2nd quarter worth about $181,000. Finally, GSA Capital Partners LLP boosted its position 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 worth $853,000 after purchasing an additional 3,713 shares in the last quarter. Institutional investors own 78.28% of the company's stock.

Insider Activity

In other Westlake Chemical Partners news, SVP Andrew Kenner purchased 12,000 shares of the stock in a transaction dated Friday, August 9th. The shares were bought at an average price of $22.99 per share, with a total value of $275,880.00. Following the completion of the transaction, the senior vice president now directly owns 182,308 shares in the company, valued at approximately $4,191,260.92. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought 16,119 shares of company stock valued at $369,340 in the last 90 days. Insiders own 1.10% of the company's stock.

Westlake Chemical Partners Stock Up 0.5 %

Shares of NYSE WLKP traded up $0.11 during mid-day trading on Wednesday, reaching $22.56. 15,720 shares of the company's stock traded hands, compared to its average volume of 45,885. Westlake Chemical Partners LP has a 1-year low of $21.16 and a 1-year high of $23.68. The stock has a market cap of $794.74 million, a P/E ratio of 14.65 and a beta of 1.10. 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 business has a 50-day simple moving average of $22.45 and a 200 day simple moving average of $22.52.

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

Analysts Set New Price Targets

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

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.