Pathway Financial Advisers LLC Has $2.36 Million Position in Westlake Chemical Partners LP (NYSE:WLKP)

Pathway Financial Advisers LLC lessened its position in Westlake Chemical Partners LP (NYSE:WLKP - Free Report) by 95.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 101,780 shares of the basic materials company's stock after selling 2,128,656 shares during the period. Pathway Financial Advisers LLC owned approximately 0.29% of Westlake Chemical Partners worth $2,355,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of WLKP. JPMorgan Chase & Co. lifted its holdings in Westlake Chemical Partners by 267.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 98,437 shares of the basic materials company's stock worth $2,206,000 after purchasing an additional 71,615 shares during the last quarter. International Assets Investment Management LLC lifted 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. Glenmede Trust Co. NA lifted its holdings in shares of Westlake Chemical Partners by 22.0% during the third quarter. Glenmede Trust Co. NA now owns 55,478 shares of the basic materials company's stock valued at $1,243,000 after acquiring an additional 10,000 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Westlake Chemical Partners in the 4th quarter valued at $211,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Westlake Chemical Partners in the 3rd quarter worth about $36,000. Institutional investors and hedge funds own 78.28% of the company's stock.

Westlake Chemical Partners Price Performance

NYSE WLKP traded up $0.09 during trading hours on Monday, reaching $23.64. 99,281 shares of the company's stock were exchanged, compared to its average volume of 29,747. Westlake Chemical Partners LP has a one year low of $21.19 and a one year high of $24.98. The stock has a market cap of $833.07 million, a PE ratio of 13.51 and a beta of 1.09. The company has a current ratio of 4.53, a quick ratio of 4.46 and a debt-to-equity ratio of 0.48. The firm has a fifty day moving average of $23.73 and a 200-day moving average of $23.04.

Westlake Chemical Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 25th. Stockholders of record on Friday, February 7th will be paid a dividend of $0.4714 per share. This represents a $1.89 annualized dividend and a dividend yield of 7.98%. The ex-dividend date of this dividend is Friday, February 7th. This is a positive change from Westlake Chemical Partners's previous quarterly dividend of $0.47. Westlake Chemical Partners's dividend payout ratio is 108.00%.

Westlake Chemical Partners Profile

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.