Vest Financial LLC Grows Stock Holdings in Westlake Co. (NYSE:WLK)

Vest Financial LLC lifted its position in shares of Westlake Co. (NYSE:WLK - Free Report) by 106.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,501 shares of the specialty chemicals company's stock after purchasing an additional 11,091 shares during the quarter. Vest Financial LLC's holdings in Westlake were worth $2,465,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Creative Planning grew its stake in Westlake by 4.6% in the 2nd quarter. Creative Planning now owns 5,737 shares of the specialty chemicals company's stock valued at $831,000 after acquiring an additional 250 shares during the period. Cetera Investment Advisers lifted its holdings in Westlake by 134.4% in the 2nd quarter. Cetera Investment Advisers now owns 7,612 shares of the specialty chemicals company's stock valued at $1,102,000 after purchasing an additional 4,364 shares in the last quarter. Oliver Luxxe Assets LLC purchased a new position in Westlake in the 3rd quarter valued at $1,918,000. Wedge Capital Management L L P NC lifted its holdings in Westlake by 10.2% in the 3rd quarter. Wedge Capital Management L L P NC now owns 73,666 shares of the specialty chemicals company's stock valued at $11,071,000 after purchasing an additional 6,838 shares in the last quarter. Finally, nVerses Capital LLC purchased a new position in Westlake in the 3rd quarter valued at $75,000. Institutional investors and hedge funds own 28.40% of the company's stock.

Westlake Stock Down 1.3 %

Westlake stock traded down $1.43 during midday trading on Wednesday, reaching $111.09. The company's stock had a trading volume of 623,739 shares, compared to its average volume of 543,626. Westlake Co. has a fifty-two week low of $108.56 and a fifty-two week high of $162.64. The company has a quick ratio of 2.04, a current ratio of 2.79 and a debt-to-equity ratio of 0.41. The company has a market cap of $14.30 billion, a P/E ratio of 156.46, a P/E/G ratio of 2.40 and a beta of 1.17. The business has a 50-day simple moving average of $115.49 and a 200-day simple moving average of $130.89.

Westlake Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 26th were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend was Tuesday, November 26th. Westlake's dividend payout ratio is presently 295.77%.

Insider Transactions at Westlake

In other news, Director David Tsung-Hung Chao sold 1,750 shares of Westlake stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $129.08, for a total transaction of $225,890.00. Following the sale, the director now owns 7,784 shares in the company, valued at approximately $1,004,758.72. The trade was a 18.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 74.10% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on WLK shares. BMO Capital Markets reduced their price target on Westlake from $171.00 to $165.00 and set a "market perform" rating on the stock in a report on Wednesday, November 13th. Wells Fargo & Company reduced their price target on Westlake from $180.00 to $160.00 and set an "overweight" rating on the stock in a report on Wednesday, November 6th. StockNews.com upgraded shares of Westlake from a "sell" rating to a "hold" rating in a report on Tuesday, November 26th. UBS Group upgraded shares of Westlake from a "neutral" rating to a "buy" rating and set a $144.00 price objective on the stock in a report on Friday, January 10th. Finally, Citigroup upgraded shares of Westlake from a "neutral" rating to a "buy" rating and reduced their price objective for the company from $152.00 to $140.00 in a report on Wednesday, December 18th. One 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. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $155.79.

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.