Westlake Chemical Corporation (NYSE:WLK) SVP George J. Mangieri sold 13,381 shares of the stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $94.44, for a total value of $1,263,701.64. Following the transaction, the senior vice president now directly owns 10,195 shares in the company, valued at approximately $962,815.80. The transaction was disclosed in a filing with the SEC, which is available at this link.
Westlake Chemical Corporation (WLK) traded down $1.20 during mid-day trading on Wednesday, reaching $92.75. The company’s stock had a trading volume of 1,110,900 shares, compared to its average volume of 853,551. The company has a quick ratio of 1.59, a current ratio of 2.31 and a debt-to-equity ratio of 0.74. The firm has a market cap of $12,129.64, a price-to-earnings ratio of 18.83, a P/E/G ratio of 2.31 and a beta of 1.67. Westlake Chemical Corporation has a 52 week low of $52.57 and a 52 week high of $96.14.
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Hedge funds have recently bought and sold shares of the business. Cornerstone Capital Management Holdings LLC. acquired a new stake in Westlake Chemical Corporation in the 3rd quarter valued at about $137,000. Advisors Asset Management Inc. raised its position in Westlake Chemical Corporation by 162.8% in the 2nd quarter. Advisors Asset Management Inc. now owns 2,276 shares of the specialty chemicals company’s stock valued at $151,000 after purchasing an additional 1,410 shares in the last quarter. Quantitative Systematic Strategies LLC purchased a new position in shares of Westlake Chemical Corporation in the 3rd quarter valued at about $204,000. HL Financial Services LLC purchased a new position in shares of Westlake Chemical Corporation in the 3rd quarter valued at about $210,000. Finally, Boothbay Fund Management LLC purchased a new position in shares of Westlake Chemical Corporation in the 3rd quarter valued at about $254,000. 32.01% of the stock is currently owned by institutional investors.
Several equities analysts recently issued reports on WLK shares. Royal Bank Of Canada reissued a “buy” rating on shares of Westlake Chemical Corporation in a research note on Wednesday, September 6th. SunTrust Banks, Inc. reissued a “buy” rating and set a $86.00 target price on shares of Westlake Chemical Corporation in a research note on Wednesday, September 6th. UBS AG increased their target price on Westlake Chemical Corporation from $56.00 to $61.00 and gave the stock a “sell” rating in a research note on Friday, October 13th. Zacks Investment Research raised Westlake Chemical Corporation from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a research note on Friday, October 13th. Finally, Citigroup Inc. started coverage on Westlake Chemical Corporation in a research note on Tuesday, October 24th. They set a “buy” rating and a $97.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $92.73.
About Westlake Chemical Corporation
Westlake Chemical Corporation is a global manufacturer and marketer of basic chemicals, vinyls, polymers and building products. The Company’s products include a range of chemicals, which are fundamental to various consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, water treatment, refrigerants, residential and commercial construction, as well as other durable and non-durable goods.
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