Cerity Partners LLC Decreases Stake in Westlake Co. (NYSE:WLK)

Cerity Partners LLC lessened its holdings in Westlake Co. (NYSE:WLK - Free Report) by 41.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,613 shares of the specialty chemicals company's stock after selling 59,338 shares during the quarter. Cerity Partners LLC owned approximately 0.06% of Westlake worth $9,472,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Blue Trust Inc. lifted its holdings in shares of Westlake by 247.7% during the fourth quarter. Blue Trust Inc. now owns 226 shares of the specialty chemicals company's stock worth $26,000 after purchasing an additional 161 shares during the period. Allworth Financial LP raised 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 purchasing an additional 379 shares during the last quarter. Transamerica Financial Advisors Inc. lifted its holdings in Westlake by 1,668.2% during the 4th 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 during the period. Continuum Advisory LLC grew its position in shares of 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 during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Westlake by 72.0% during the fourth quarter. GAMMA Investing LLC now owns 523 shares of the specialty chemicals company's stock worth $60,000 after acquiring an additional 219 shares during the last quarter. 28.40% of the stock is currently owned by institutional investors and hedge funds.

Westlake Stock Up 0.9 %

Shares of WLK stock traded up $0.84 on Wednesday, hitting $90.89. The stock had a trading volume of 102,537 shares, compared to its average volume of 732,744. Westlake Co. has a 12-month low of $81.40 and a 12-month high of $161.31. The stock has a market cap of $11.68 billion, a price-to-earnings ratio of 128.01, a price-to-earnings-growth ratio of 2.36 and a beta of 1.02. The business has a 50 day moving average of $103.84 and a 200 day moving average of $118.10. 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 (NYSE:WLK - Get Free Report) last posted its quarterly earnings data on Monday, February 24th. The specialty chemicals company reported $0.06 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.98). Westlake had a net margin of 0.81% and a return on equity of 6.93%. The firm had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $3.01 billion. During the same quarter last year, the business posted $0.72 EPS. The company's quarterly revenue was up .6% on a year-over-year basis. As a group, analysts expect that Westlake Co. will post 6.48 EPS for the current year.

Westlake Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Tuesday, March 4th were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date was Tuesday, March 4th. Westlake's dividend payout ratio (DPR) is currently 45.36%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WLK. Barclays decreased their price objective on shares of Westlake from $175.00 to $135.00 and set an "overweight" rating for the company in a research report on Tuesday, February 25th. Morgan Stanley lowered their target price on Westlake from $130.00 to $122.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. JPMorgan Chase & Co. upgraded Westlake from an "underweight" rating to a "neutral" rating and cut their price target for the stock from $135.00 to $110.00 in a report on Thursday, February 27th. Piper Sandler reiterated a "neutral" rating and issued a $105.00 price objective (down previously from $120.00) on shares of Westlake in a research note on Monday, April 7th. Finally, BMO Capital Markets cut their target price on shares of Westlake from $157.00 to $132.00 and set a "market perform" rating on the stock in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Westlake has an average rating of "Moderate Buy" and a consensus price target of $126.23.

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.