Raymond James Financial Inc. Takes Position in Westlake Chemical Partners LP (NYSE:WLKP)

Raymond James Financial Inc. bought a new stake in shares of Westlake Chemical Partners LP (NYSE:WLKP - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 19,700 shares of the basic materials company's stock, valued at approximately $456,000. Raymond James Financial Inc. owned approximately 0.06% of Westlake Chemical Partners as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in Westlake Chemical Partners in the third quarter valued at about $36,000. Geneos Wealth Management Inc. lifted its holdings in shares of Westlake Chemical Partners by 32.2% during the fourth quarter. Geneos Wealth Management Inc. now owns 3,337 shares of the basic materials company's stock worth $77,000 after purchasing an additional 812 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Westlake Chemical Partners in the fourth quarter valued at approximately $211,000. Apollon Wealth Management LLC increased its holdings in Westlake Chemical Partners by 3.4% in the 4th quarter. Apollon Wealth Management LLC now owns 15,421 shares of the basic materials company's stock worth $357,000 after buying an additional 512 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in Westlake Chemical Partners during the 4th quarter valued at approximately $1,874,000. 78.28% of the stock is currently owned by hedge funds and other institutional investors.

Westlake Chemical Partners Stock Performance

Shares of WLKP stock traded up $0.50 during trading hours on Friday, hitting $22.50. The company's stock had a trading volume of 41,486 shares, compared to its average volume of 48,429. 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 company has a 50 day moving average of $23.49 and a 200 day moving average of $23.29. Westlake Chemical Partners LP has a 12-month low of $21.19 and a 12-month high of $25.04. The stock has a market cap of $792.95 million, a PE ratio of 12.86 and a beta of 0.93.

Westlake Chemical Partners (NYSE:WLKP - Get Free Report) last announced its quarterly earnings results on Monday, February 24th. The basic materials company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.07. The company had revenue of $290.06 million for the quarter, compared to the consensus estimate of $262.00 million. Westlake Chemical Partners had a return on equity of 7.31% and a net margin of 5.40%. On average, sell-side analysts forecast that Westlake Chemical Partners LP will post 1.55 EPS for the current fiscal year.

Westlake Chemical Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Friday, February 7th were given a dividend of $0.4714 per share. This is a boost from Westlake Chemical Partners's previous quarterly dividend of $0.47. This represents a $1.89 annualized dividend and a yield of 8.38%. The ex-dividend date was Friday, February 7th. Westlake Chemical Partners's dividend payout ratio (DPR) is currently 106.21%.

Westlake Chemical Partners Company 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.