Schroder Investment Management Group Buys 283,100 Shares of Westlake Co. (NYSE:WLK)

Schroder Investment Management Group boosted its stake in Westlake Co. (NYSE:WLK - Free Report) by 348.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 364,274 shares of the specialty chemicals company's stock after buying an additional 283,100 shares during the period. Schroder Investment Management Group owned approximately 0.28% of Westlake worth $41,327,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Blue Trust Inc. grew its position in shares of Westlake by 247.7% in the fourth quarter. Blue Trust Inc. now owns 226 shares of the specialty chemicals company's stock valued at $26,000 after purchasing an additional 161 shares during the last quarter. Continuum Advisory LLC grew its holdings in Westlake by 43.2% in the 3rd quarter. Continuum Advisory LLC now owns 318 shares of the specialty chemicals company's stock valued at $48,000 after buying an additional 96 shares in the last quarter. Allworth Financial LP increased its position in Westlake by 6,316.7% during the 4th quarter. Allworth Financial LP now owns 385 shares of the specialty chemicals company's stock worth $45,000 after buying an additional 379 shares during the period. Transamerica Financial Advisors Inc. lifted its holdings in shares of Westlake by 1,668.2% during the fourth quarter. Transamerica Financial Advisors Inc. now owns 389 shares of the specialty chemicals company's stock worth $45,000 after buying an additional 367 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Westlake by 72.0% in the fourth quarter. GAMMA Investing LLC now owns 523 shares of the specialty chemicals company's stock valued at $60,000 after acquiring an additional 219 shares during the period. 28.40% of the stock is owned by institutional investors.

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Westlake Trading Down 7.6 %

WLK stock traded down $7.71 during midday trading on Thursday, hitting $94.30. The stock had a trading volume of 1,118,222 shares, compared to its average volume of 546,571. The firm has a market cap of $12.09 billion, a P/E ratio of 132.82, a price-to-earnings-growth ratio of 2.36 and a beta of 1.18. The company has a current ratio of 2.79, a quick ratio of 2.04 and a debt-to-equity ratio of 0.41. The business has a fifty day moving average price of $109.02 and a two-hundred day moving average price of $122.07. Westlake Co. has a 1-year low of $93.68 and a 1-year high of $162.64.

Westlake (NYSE:WLK - Get Free Report) last issued its earnings results on Monday, February 24th. The specialty chemicals company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.98). The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $3.01 billion. Westlake had a return on equity of 6.93% and a net margin of 0.81%. The firm's revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.72 earnings per share. On average, sell-side analysts predict that Westlake Co. will post 6.48 earnings per share for the current fiscal year.

Westlake Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Tuesday, March 4th were given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 2.23%. The ex-dividend date was Tuesday, March 4th. Westlake's payout ratio is currently 45.36%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. UBS Group raised shares of Westlake from a "neutral" rating to a "buy" rating and set a $144.00 price objective for the company in a report on Friday, January 10th. BMO Capital Markets reduced their price target on Westlake from $157.00 to $132.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 26th. Piper Sandler cut Westlake from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $135.00 to $120.00 in a report on Wednesday, March 26th. JPMorgan Chase & Co. raised shares of Westlake from an "underweight" rating to a "neutral" rating and cut their price objective for the stock from $135.00 to $110.00 in a research report on Thursday, February 27th. Finally, Royal Bank of Canada reduced their target price on Westlake from $147.00 to $133.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $138.21.

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.