82,251 Shares in Westlake Co. (NYSE:WLK) Acquired by Proficio Capital Partners LLC

Proficio Capital Partners LLC bought a new stake in Westlake Co. (NYSE:WLK - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 82,251 shares of the specialty chemicals company's stock, valued at approximately $9,430,000. Proficio Capital Partners LLC owned approximately 0.06% of Westlake at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Blue Trust Inc. grew its stake in shares of Westlake by 247.7% in the 4th quarter. Blue Trust Inc. now owns 226 shares of the specialty chemicals company's stock valued at $26,000 after buying an additional 161 shares in the last quarter. Continuum Advisory LLC increased its stake in shares of Westlake by 43.2% during the 3rd quarter. Continuum Advisory LLC now owns 318 shares of the specialty chemicals company's stock worth $48,000 after purchasing an additional 96 shares during the last quarter. Allworth Financial LP increased its stake in shares of Westlake by 6,316.7% during the 4th quarter. Allworth Financial LP now owns 385 shares of the specialty chemicals company's stock worth $45,000 after purchasing an additional 379 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Westlake during the 3rd quarter valued at $62,000. Finally, GAMMA Investing LLC lifted its stake in shares of Westlake by 72.0% in the 4th quarter. GAMMA Investing LLC now owns 523 shares of the specialty chemicals company's stock valued at $60,000 after purchasing an additional 219 shares during the last quarter. 28.40% of the stock is owned by institutional investors and hedge funds.

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Westlake Stock Performance

WLK stock traded down $1.06 during trading on Thursday, reaching $109.95. 232,369 shares of the stock were exchanged, compared to its average volume of 490,357. The stock has a 50 day simple moving average of $113.49 and a 200-day simple moving average of $127.53. The company has a current ratio of 2.79, a quick ratio of 2.04 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $14.10 billion, a P/E ratio of 155.08, a price-to-earnings-growth ratio of 2.36 and a beta of 1.17. Westlake Co. has a twelve month low of $104.74 and a twelve month high of $162.64.

Westlake (NYSE:WLK - Get Free Report) last released its quarterly earnings data on Monday, February 24th. The specialty chemicals company reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.04 by ($0.98). The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $3.01 billion. Westlake had a net margin of 0.81% and a return on equity of 6.93%. The business's revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.72 earnings per share. As a group, sell-side analysts anticipate that Westlake Co. will post 6.48 earnings per share for the current year.

Westlake Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Tuesday, March 4th. Westlake's payout ratio is 45.36%.

Wall Street Analyst Weigh In

Several research firms have commented on WLK. Royal Bank of Canada lowered their target price on shares of Westlake from $147.00 to $133.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Morgan Stanley lowered their price objective on Westlake from $130.00 to $122.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. JPMorgan Chase & Co. upgraded Westlake from an "underweight" rating to a "neutral" rating and reduced their target price for the stock from $135.00 to $110.00 in a report on Thursday, February 27th. Truist Financial dropped their price target on shares of Westlake from $168.00 to $166.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. Finally, Barclays lowered their target price on shares of Westlake from $175.00 to $135.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Westlake currently has a consensus rating of "Moderate Buy" and an average target price of $140.07.

Westlake Company Profile

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.