Westlake Co. (NYSE:WLK) Position Boosted by Venturi Wealth Management LLC

Venturi Wealth Management LLC lifted its stake in Westlake Co. (NYSE:WLK) by 163.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 789 shares of the specialty chemicals company’s stock after purchasing an additional 490 shares during the quarter. Venturi Wealth Management LLC’s holdings in Westlake were worth $90,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in WLK. Raymond James & Associates raised its stake in shares of Westlake by 1.6% during the 3rd quarter. Raymond James & Associates now owns 19,420 shares of the specialty chemicals company’s stock worth $2,919,000 after purchasing an additional 304 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Westlake in the third quarter worth approximately $15,295,000. Louisiana State Employees Retirement System raised its position in Westlake by 2.2% during the third quarter. Louisiana State Employees Retirement System now owns 9,300 shares of the specialty chemicals company’s stock valued at $1,398,000 after acquiring an additional 200 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Westlake in the third quarter worth approximately $205,000. Finally, State of Alaska Department of Revenue increased its stake in shares of Westlake by 1.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 27,813 shares of the specialty chemicals company’s stock worth $4,179,000 after purchasing an additional 415 shares during the last quarter. 28.40% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director David Tsung-Hung Chao sold 1,750 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $129.08, for a total value of $225,890.00. Following the completion of the transaction, the director now directly owns 7,784 shares of the company’s stock, valued at approximately $1,004,758.72. This represents a 18.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 74.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on WLK shares. Morgan Stanley reduced their price objective on shares of Westlake from $155.00 to $130.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Wells Fargo & Company lowered their price objective on Westlake from $180.00 to $160.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. BMO Capital Markets cut their price objective on Westlake from $171.00 to $165.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 13th. Piper Sandler decreased their target price on Westlake from $155.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Finally, StockNews.com raised shares of Westlake from a “sell” rating to a “hold” rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $155.79.

Westlake Trading Down 1.5 %

Shares of WLK stock opened at $109.68 on Monday. The firm has a fifty day moving average of $114.25 and a 200-day moving average of $129.38. The stock has a market cap of $14.12 billion, a price-to-earnings ratio of 154.48, a P/E/G ratio of 2.36 and a beta of 1.17. Westlake Co. has a 52-week low of $108.56 and a 52-week high of $162.64. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.04 and a current ratio of 2.79.

Westlake Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Tuesday, March 4th will be paid 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 is 295.77%.

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.