Versor Investments LP Sells 9,829 Shares of Westlake Co. (NYSE:WLK)

Versor Investments LP lessened its position in shares of Westlake Co. (NYSE:WLK - Free Report) by 66.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,016 shares of the specialty chemicals company's stock after selling 9,829 shares during the quarter. Versor Investments LP's holdings in Westlake were worth $575,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Blue Trust Inc. grew its holdings in shares of Westlake by 247.7% in the fourth quarter. Blue Trust Inc. now owns 226 shares of the specialty chemicals company's stock valued at $26,000 after purchasing an additional 161 shares during the period. Continuum Advisory LLC lifted its position in shares of Westlake by 43.2% during the third quarter. Continuum Advisory LLC now owns 318 shares of the specialty chemicals company's stock worth $48,000 after purchasing an additional 96 shares in the last quarter. Allworth Financial LP lifted its holdings in 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 buying an additional 379 shares in the last quarter. Brooklyn Investment Group purchased a new position in Westlake in the third quarter valued at $62,000. Finally, GAMMA Investing LLC grew its position in shares of Westlake by 72.0% during the fourth quarter. GAMMA Investing LLC now owns 523 shares of the specialty chemicals company's stock worth $60,000 after buying an additional 219 shares in the last quarter. Hedge funds and other institutional investors own 28.40% of the company's stock.

Westlake Price Performance

NYSE WLK traded up $4.08 during trading on Wednesday, reaching $111.09. 638,776 shares of the company traded hands, compared to its average volume of 491,356. The stock's 50 day moving average price is $113.57 and its two-hundred day moving average price is $127.64. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.04 and a current ratio of 2.79. The company has a market cap of $14.24 billion, a price-to-earnings ratio of 156.46, a P/E/G ratio of 2.36 and a beta of 1.17. Westlake Co. has a 1-year low of $104.74 and a 1-year high of $162.64.

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

Westlake Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Tuesday, March 4th. Westlake's dividend payout ratio (DPR) is presently 45.36%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Piper Sandler lowered their target price on shares of Westlake from $155.00 to $135.00 and set an "overweight" rating for the company in a report on Tuesday, January 7th. StockNews.com lowered shares of Westlake from a "hold" rating to a "sell" rating in a research note on Wednesday, February 26th. BMO Capital Markets dropped their target price on shares of Westlake from $157.00 to $132.00 and set a "market perform" rating for the company in a report on Wednesday, February 26th. Morgan Stanley dropped their target price on shares of Westlake from $130.00 to $122.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upgraded Westlake from an "underweight" rating to a "neutral" rating and lowered their target price for the company from $135.00 to $110.00 in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $140.07.

Westlake 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.