2,531 Shares in Westlake Co. (NYSE:WLK) Bought by Sigma Planning Corp

Sigma Planning Corp purchased a new position in shares of Westlake Co. (NYSE:WLK) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,531 shares of the specialty chemicals company’s stock, valued at approximately $380,000.

Several other large investors have also modified their holdings of the business. Capital World Investors increased its stake in Westlake by 1.7% in the 1st quarter. Capital World Investors now owns 1,334,579 shares of the specialty chemicals company’s stock worth $203,924,000 after buying an additional 22,743 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Westlake by 90.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 386,480 shares of the specialty chemicals company’s stock worth $58,084,000 after acquiring an additional 183,666 shares during the period. Merewether Investment Management LP raised its stake in shares of Westlake by 17.4% during the second quarter. Merewether Investment Management LP now owns 223,366 shares of the specialty chemicals company’s stock valued at $32,348,000 after acquiring an additional 33,100 shares in the last quarter. 1832 Asset Management L.P. purchased a new stake in shares of Westlake in the second quarter valued at approximately $27,179,000. Finally, Appian Way Asset Management LP bought a new position in Westlake in the first quarter worth approximately $25,154,000. Hedge funds and other institutional investors own 28.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Barclays upgraded Westlake from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $162.00 to $180.00 in a report on Monday, September 30th. Bank of America upgraded shares of Westlake from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $151.00 to $159.00 in a report on Wednesday, October 16th. Piper Sandler reduced their price target on shares of Westlake from $180.00 to $170.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. Royal Bank of Canada dropped their price objective on shares of Westlake from $170.00 to $167.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Finally, UBS Group reduced their price objective on shares of Westlake from $160.00 to $144.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $162.17.

Westlake Trading Down 0.0 %

Shares of NYSE:WLK opened at $126.66 on Friday. The business has a 50-day moving average price of $139.18 and a 200-day moving average price of $145.36. The stock has a market cap of $16.30 billion, a price-to-earnings ratio of 178.39, a PEG ratio of 2.37 and a beta of 1.19. Westlake Co. has a 52-week low of $118.64 and a 52-week high of $162.64. The company has a quick ratio of 2.04, a current ratio of 2.79 and a debt-to-equity ratio of 0.41.

Westlake (NYSE:WLK) last released its quarterly earnings data on Tuesday, November 5th. The specialty chemicals company reported $1.41 EPS for the quarter, missing the consensus estimate of $2.21 by ($0.80). Westlake had a net margin of 0.81% and a return on equity of 6.93%. The business had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.31 billion. During the same period last year, the company earned $2.20 earnings per share. The firm’s revenue was up .1% on a year-over-year basis. Equities analysts predict that Westlake Co. will post 6.76 EPS for the current year.

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.