Versor Investments LP Purchases 7,666 Shares of Westlake Co. (NYSE:WLK)

Versor Investments LP increased its holdings in Westlake Co. (NYSE:WLK - Free Report) by 106.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,845 shares of the specialty chemicals company's stock after buying an additional 7,666 shares during the quarter. Versor Investments LP's holdings in Westlake were worth $2,231,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in WLK. Crossmark Global Holdings Inc. grew its position in shares of Westlake by 28.5% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 2,898 shares of the specialty chemicals company's stock valued at $436,000 after acquiring an additional 643 shares during the period. Sigma Planning Corp bought a new stake in Westlake during the third quarter valued at about $380,000. Financial Enhancement Group LLC purchased a new stake in Westlake in the third quarter worth about $1,476,000. Robeco Institutional Asset Management B.V. purchased a new stake in Westlake in the third quarter worth about $382,000. Finally, Janney Montgomery Scott LLC lifted its position in shares of Westlake by 1.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 46,666 shares of the specialty chemicals company's stock valued at $7,013,000 after buying an additional 474 shares in the last quarter. 28.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on WLK shares. Royal Bank of Canada reduced their target price on shares of Westlake from $170.00 to $167.00 and set an "outperform" rating for the company in a report on Monday. Wells Fargo & Company reduced their price objective on shares of Westlake from $180.00 to $160.00 and set an "overweight" rating for the company in a research note on Wednesday, November 6th. StockNews.com downgraded shares of Westlake from a "hold" rating to a "sell" rating in a research report on Thursday, September 19th. UBS Group dropped their target price on shares of Westlake from $160.00 to $144.00 and set a "neutral" rating for the company in a report on Wednesday, November 6th. Finally, Barclays raised Westlake from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $162.00 to $180.00 in a report on Monday, September 30th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $162.67.

Westlake Price Performance

Shares of NYSE WLK traded down $1.93 during midday trading on Monday, reaching $130.22. 543,575 shares of the stock traded hands, compared to its average volume of 446,135. The company's 50 day moving average is $139.96 and its 200 day moving average is $145.94. Westlake Co. has a one year low of $118.64 and a one year high of $162.64. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.79 and a quick ratio of 1.94. The stock has a market capitalization of $16.76 billion, a PE ratio of 183.41, a P/E/G ratio of 1.84 and a beta of 1.19.

Westlake (NYSE:WLK - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The specialty chemicals company reported $1.41 EPS for the quarter, missing analysts' consensus estimates of $2.21 by ($0.80). Westlake had a return on equity of 6.93% and a net margin of 0.81%. The business had revenue of $3.12 billion during the quarter, compared to analysts' expectations of $3.31 billion. During the same period in the previous year, the business earned $2.20 earnings per share. The business's quarterly revenue was up .1% on a year-over-year basis. On average, equities research analysts anticipate that Westlake Co. will post 7.16 earnings per share for the current year.

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.