Westlake Co. (NYSE:WLK) Receives $159.83 Average PT from Analysts

Shares of Westlake Co. (NYSE:WLK - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the twelve research firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $159.83.

A number of equities analysts recently weighed in on WLK shares. Citigroup raised Westlake from a "neutral" rating to a "buy" rating and dropped their price target for the stock from $152.00 to $140.00 in a research note on Wednesday, December 18th. Piper Sandler cut their price target on shares of Westlake from $180.00 to $170.00 and set an "overweight" rating on the stock in a report on Thursday, September 5th. Barclays raised shares of Westlake from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $162.00 to $180.00 in a research note on Monday, September 30th. Bank of America raised shares of Westlake from an "underperform" rating to a "neutral" rating and boosted their target price for the company from $151.00 to $159.00 in a research note on Wednesday, October 16th. Finally, BMO Capital Markets decreased their target price on Westlake from $171.00 to $165.00 and set a "market perform" rating for the company in a research report on Wednesday, November 13th.

Westlake Stock Performance

WLK stock traded down $2.52 during trading on Thursday, reaching $112.13. 446,664 shares of the company's stock were exchanged, compared to its average volume of 462,556. The firm has a market cap of $14.43 billion, a PE ratio of 157.93, a P/E/G ratio of 2.31 and a beta of 1.16. The company has a quick ratio of 2.04, a current ratio of 2.79 and a debt-to-equity ratio of 0.41. Westlake has a 1-year low of $111.71 and a 1-year high of $162.64. The company's fifty day moving average price is $125.17 and its 200-day moving average price is $137.54.

Westlake (NYSE:WLK - Get Free Report) last released its quarterly earnings results 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 company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same quarter last year, the firm posted $2.20 earnings per share. The firm's quarterly revenue was up .1% compared to the same quarter last year. On average, research analysts expect that Westlake will post 6.47 EPS for the current fiscal year.

Westlake Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 26th were given a dividend of $0.525 per share. The ex-dividend date was Tuesday, November 26th. This represents a $2.10 annualized dividend and a dividend yield of 1.87%. Westlake's dividend payout ratio is presently 295.77%.

Insider Activity at Westlake

In related news, Director David Tsung-Hung Chao sold 1,750 shares of the firm's stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $130.00, for a total transaction of $227,500.00. Following the completion of the sale, the director now directly owns 9,534 shares of the company's stock, valued at $1,239,420. This trade represents a 15.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 74.10% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WLK. Retirement Systems of Alabama boosted its stake in shares of Westlake by 2.4% in the 3rd quarter. Retirement Systems of Alabama now owns 40,613 shares of the specialty chemicals company's stock valued at $6,104,000 after purchasing an additional 940 shares during the last quarter. Toronto Dominion Bank boosted its position in shares of Westlake by 31.7% in the 3rd quarter. Toronto Dominion Bank now owns 4,855 shares of the specialty chemicals company's stock worth $730,000 after purchasing an additional 1,169 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Westlake by 4.5% during the third quarter. Geode Capital Management LLC now owns 552,646 shares of the specialty chemicals company's stock worth $82,837,000 after purchasing an additional 23,558 shares during the period. Continuum Advisory LLC increased its holdings in Westlake by 43.2% in the third quarter. Continuum Advisory LLC now owns 318 shares of the specialty chemicals company's stock valued at $48,000 after purchasing an additional 96 shares during the last quarter. Finally, Wahed Invest LLC boosted its holdings in Westlake by 26.5% during the third quarter. Wahed Invest LLC now owns 812 shares of the specialty chemicals company's stock worth $122,000 after buying an additional 170 shares during the last quarter. Institutional investors and hedge funds own 28.40% of the company's stock.

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.