3,500 Shares in Westlake Chemical Partners LP (NYSE:WLKP) Acquired by Future Financial Wealth Managment LLC

Future Financial Wealth Managment LLC bought a new stake in shares of Westlake Chemical Partners LP (NYSE:WLKP) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 3,500 shares of the basic materials company’s stock, valued at approximately $78,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC raised its position in shares of Westlake Chemical Partners by 2,065.0% during the 4th quarter. International Assets Investment Management LLC now owns 31,652 shares of the basic materials company’s stock valued at $685,000 after buying an additional 30,190 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc increased its stake in Westlake Chemical Partners by 25.0% in the fourth quarter. Texas Capital Bank Wealth Management Services Inc now owns 25,000 shares of the basic materials company’s stock valued at $541,000 after acquiring an additional 5,000 shares during the last quarter. Apollon Wealth Management LLC increased its stake in Westlake Chemical Partners by 14.0% in the fourth quarter. Apollon Wealth Management LLC now owns 12,294 shares of the basic materials company’s stock valued at $266,000 after acquiring an additional 1,513 shares during the last quarter. Raymond James & Associates raised its position in Westlake Chemical Partners by 43.2% during the fourth quarter. Raymond James & Associates now owns 20,043 shares of the basic materials company’s stock valued at $434,000 after purchasing an additional 6,043 shares in the last quarter. Finally, Kovack Advisors Inc. bought a new stake in Westlake Chemical Partners during the fourth quarter worth about $261,000. Hedge funds and other institutional investors own 78.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Westlake Chemical Partners from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 26th.

Westlake Chemical Partners Stock Up 0.9 %

Shares of NYSE WLKP opened at $22.48 on Thursday. The stock has a market capitalization of $791.97 million, a P/E ratio of 14.60 and a beta of 1.13. Westlake Chemical Partners LP has a one year low of $20.91 and a one year high of $23.68. The firm’s 50 day simple moving average is $22.31 and its two-hundred day simple moving average is $22.33. The company has a debt-to-equity ratio of 0.47, a current ratio of 5.21 and a quick ratio of 5.09.

Westlake Chemical Partners (NYSE:WLKP) last announced its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The business had revenue of $284.67 million during the quarter, compared to analysts’ expectations of $280.76 million. Westlake Chemical Partners had a net margin of 4.64% and a return on equity of 6.32%. During the same period last year, the company posted $0.42 EPS. As a group, analysts expect that Westlake Chemical Partners LP will post 1.75 EPS for the current fiscal year.

Westlake Chemical Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Monday, May 13th were issued a $0.4714 dividend. The ex-dividend date was Friday, May 10th. This represents a $1.89 annualized dividend and a dividend yield of 8.39%. Westlake Chemical Partners’s dividend payout ratio is currently 122.73%.

Insider Activity

In related news, SVP Andrew Kenner purchased 2,291 shares of Westlake Chemical Partners stock in a transaction that occurred on Thursday, May 30th. The shares were acquired at an average cost of $22.23 per share, for a total transaction of $50,928.93. Following the transaction, the senior vice president now directly owns 170,308 shares in the company, valued at $3,785,946.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders purchased 19,469 shares of company stock valued at $430,347. Insiders own 1.10% of the company’s stock.

Westlake Chemical Partners Profile

Westlake Chemical Partners LP acquires, develops, and operates ethylene production facilities and related assets in the United States. The company's ethylene production facilities primarily convert ethane into ethylene. It also sells ethylene co-products, such as propylene, crude butadiene, pyrolysis gasoline, and hydrogen directly to third parties on either a spot or contract basis.