Westlake Chemical Partners LP (NYSE:WLKP - Get Free Report) saw strong trading volume on Friday . 87,520 shares were traded during mid-day trading, an increase of 142% from the previous session's volume of 36,212 shares.The stock last traded at $23.58 and had previously closed at $23.55.
Westlake Chemical Partners Trading Up 0.8 %
The company has a market cap of $836.60 million, a P/E ratio of 13.53 and a beta of 1.09. 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 stock's 50 day moving average is $23.72 and its 200-day moving average is $23.05.
Westlake Chemical Partners Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 25th. Investors of record on Friday, February 7th will be given a dividend of $0.4714 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.89 annualized dividend and a dividend yield of 7.94%. This is an increase from Westlake Chemical Partners's previous quarterly dividend of $0.47. Westlake Chemical Partners's dividend payout ratio (DPR) is 108.00%.
Hedge Funds Weigh In On Westlake Chemical Partners
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB purchased a new position in shares of Westlake Chemical Partners in the third quarter worth $36,000. Geneos Wealth Management Inc. increased its holdings in Westlake Chemical Partners by 32.2% in the 4th quarter. Geneos Wealth Management Inc. now owns 3,337 shares of the basic materials company's stock worth $77,000 after buying an additional 812 shares in the last quarter. GeoWealth Management LLC purchased a new position in Westlake Chemical Partners in the 4th quarter worth about $175,000. Allspring Global Investments Holdings LLC bought a new position in Westlake Chemical Partners during the 4th quarter valued at about $211,000. Finally, Apollon Wealth Management LLC boosted its holdings in shares of Westlake Chemical Partners by 7.5% during the 3rd quarter. Apollon Wealth Management LLC now owns 14,909 shares of the basic materials company's stock valued at $334,000 after acquiring an additional 1,041 shares during the last quarter. 78.28% of the stock is owned by institutional investors.
About Westlake Chemical Partners
(
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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.
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