Westlake Co. (NYSE:WLK - Get Free Report)'s share price hit a new 52-week low on Wednesday . The stock traded as low as $104.12 and last traded at $103.00, with a volume of 55094 shares. The stock had previously closed at $105.86.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on WLK shares. Royal Bank of Canada reduced their price target on Westlake from $147.00 to $133.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Barclays cut 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. Bank of America cut their price target on Westlake from $134.00 to $116.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 25th. UBS Group raised Westlake from a "neutral" rating to a "buy" rating and set a $144.00 target price for the company in a research report on Friday, January 10th. Finally, Truist Financial dropped their price target on shares of Westlake from $168.00 to $166.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $140.07.
Check Out Our Latest Report on Westlake
Westlake Stock Down 0.5 %
The company has a debt-to-equity ratio of 0.41, a current ratio of 2.79 and a quick ratio of 2.04. The company has a market capitalization of $12.92 billion, a PE ratio of 141.87, a P/E/G ratio of 2.36 and a beta of 1.18. The company has a 50-day moving average of $112.03 and a two-hundred day moving average of $124.16.
Westlake (NYSE:WLK - Get Free Report) last announced its quarterly earnings results 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). The company had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $3.01 billion. Westlake had a return on equity of 6.93% and a net margin of 0.81%. The firm's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 EPS. Sell-side analysts anticipate that Westlake Co. will post 6.48 earnings per share for the current fiscal year.
Westlake Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Tuesday, March 4th were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 2.08%. The ex-dividend date was Tuesday, March 4th. Westlake's payout ratio is currently 45.36%.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of WLK. Thrivent Financial for Lutherans grew its holdings in Westlake by 1.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 7,855 shares of the specialty chemicals company's stock worth $1,181,000 after acquiring an additional 89 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Westlake in the third quarter worth approximately $1,353,000. Advisors Asset Management Inc. lifted its holdings in Westlake by 14.0% during the third quarter. Advisors Asset Management Inc. now owns 7,550 shares of the specialty chemicals company's stock worth $1,135,000 after buying an additional 930 shares during the period. Cerity Partners LLC boosted its position in Westlake by 128.5% during the 3rd quarter. Cerity Partners LLC now owns 141,951 shares of the specialty chemicals company's stock valued at $21,334,000 after acquiring an additional 79,815 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Westlake by 11.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 3,024 shares of the specialty chemicals company's stock valued at $454,000 after acquiring an additional 300 shares during the period. Institutional investors own 28.40% of the company's stock.
About Westlake
(
Get Free Report)
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.
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