Westlake Co. (NYSE:WLK) Receives Average Rating of "Moderate Buy" from Brokerages

Westlake Co. (NYSE:WLK - Get Free Report) has earned an average recommendation of "Moderate Buy" from the fourteen research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $155.79.

Several research firms recently weighed in on WLK. BMO Capital Markets lowered their target price on Westlake from $171.00 to $165.00 and set a "market perform" rating on the stock in a research report on Wednesday, November 13th. Citigroup upgraded shares of Westlake from a "neutral" rating to a "buy" rating and reduced their price target for the company from $152.00 to $140.00 in a report on Wednesday, December 18th. StockNews.com raised Westlake from a "sell" rating to a "hold" rating in a report on Tuesday, November 26th. Royal Bank of Canada lowered their price target on shares of Westlake from $170.00 to $167.00 and set an "outperform" rating for the company in a report on Monday, November 11th. Finally, Wells Fargo & Company dropped their price objective on shares of Westlake from $180.00 to $160.00 and set an "overweight" rating for the company in a research note on Wednesday, November 6th.

Insider Buying and Selling

In other Westlake news, Director David Tsung-Hung Chao sold 1,750 shares of the firm's stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $129.08, for a total value of $225,890.00. Following the completion of the sale, the director now directly owns 7,784 shares in the company, valued at $1,004,758.72. This trade represents a 18.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 74.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Westlake

A number of large investors have recently modified their holdings of the business. Thrivent Financial for Lutherans lifted its position in Westlake by 1.1% during the third quarter. Thrivent Financial for Lutherans now owns 7,855 shares of the specialty chemicals company's stock valued at $1,181,000 after purchasing an additional 89 shares during the period. Treasurer of the State of North Carolina lifted its stake in shares of Westlake by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 14,742 shares of the specialty chemicals company's stock worth $1,690,000 after buying an additional 90 shares in the last quarter. Continuum Advisory LLC increased its holdings in shares of 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. Oppenheimer & Co. Inc. boosted its stake in Westlake by 3.8% during the third quarter. Oppenheimer & Co. Inc. now owns 2,624 shares of the specialty chemicals company's stock worth $394,000 after buying an additional 97 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV increased its stake in shares of Westlake by 2.2% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 4,877 shares of the specialty chemicals company's stock worth $557,000 after acquiring an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 28.40% of the company's stock.

Westlake Stock Performance

Shares of WLK traded down $1.72 on Friday, reaching $109.68. The company's stock had a trading volume of 802,581 shares, compared to its average volume of 575,526. The stock's 50 day simple moving average is $114.44 and its two-hundred day simple moving average is $129.74. The stock has a market capitalization of $14.12 billion, a P/E ratio of 154.48, a PEG ratio of 2.41 and a beta of 1.17. Westlake has a 12-month low of $108.56 and a 12-month high of $162.64. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.79 and a quick ratio of 2.04.

Westlake Announces Dividend

The firm also recently announced 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 1.91%. Westlake's dividend payout ratio (DPR) is 295.77%.

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.