Victory Capital Management Inc. Has $411.76 Million Stock Holdings in Westlake Co. (NYSE:WLK)

Victory Capital Management Inc. decreased its position in shares of Westlake Co. (NYSE:WLK - Free Report) by 3.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,739,779 shares of the specialty chemicals company's stock after selling 103,506 shares during the period. Victory Capital Management Inc. owned 2.13% of Westlake worth $411,761,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Comerica Bank raised its holdings in Westlake by 17.9% during the first quarter. Comerica Bank now owns 24,490 shares of the specialty chemicals company's stock worth $3,742,000 after purchasing an additional 3,710 shares in the last quarter. CIBC Asset Management Inc bought a new position in shares of Westlake in the second quarter valued at $544,000. Avantax Advisory Services Inc. bought a new position in shares of Westlake in the first quarter valued at $207,000. 1832 Asset Management L.P. bought a new position in shares of Westlake in the second quarter valued at $27,179,000. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Westlake by 89.8% in the second quarter. Envestnet Asset Management Inc. now owns 44,194 shares of the specialty chemicals company's stock valued at $6,400,000 after buying an additional 20,913 shares in the last quarter. Institutional investors own 28.40% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on WLK. Piper Sandler dropped their price target on Westlake from $180.00 to $170.00 and set an "overweight" rating on the stock in a report on Thursday, September 5th. Wells Fargo & Company lowered their price target on shares of Westlake from $180.00 to $160.00 and set an "overweight" rating on the stock in a report on Wednesday, November 6th. UBS Group lowered their price target on shares of Westlake from $160.00 to $144.00 and set a "neutral" rating on the stock in a report on Wednesday, November 6th. BMO Capital Markets boosted their price target on shares of Westlake from $167.00 to $171.00 and gave the company a "market perform" rating in a report on Tuesday, August 13th. Finally, Mizuho began coverage on shares of Westlake in a report on Thursday, August 8th. They set an "outperform" rating and a $170.00 price target on the stock. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $162.67.

Westlake Stock Performance

Shares of WLK traded down $2.47 during trading hours on Tuesday, reaching $127.75. 422,081 shares of the company traded hands, compared to its average volume of 446,304. The stock's fifty day moving average is $139.73 and its 200 day moving average is $145.78. The stock has a market cap of $16.44 billion, a P/E ratio of 179.93, a price-to-earnings-growth ratio of 1.84 and a beta of 1.19. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.94 and a current ratio of 2.79. Westlake Co. has a 1-year low of $118.64 and a 1-year high of $162.64.

Westlake (NYSE:WLK - Get Free Report) last announced 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). The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.31 billion. Westlake had a net margin of 0.81% and a return on equity of 6.93%. The firm's quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the company posted $2.20 EPS. Equities research analysts anticipate that Westlake Co. will post 7.16 earnings per share for the current fiscal year.

About Westlake

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.