Westlake Co. (NYSE:WLK) Given Consensus Rating of “Hold” by Brokerages

Westlake Co. (NYSE:WLK) has received an average rating of “Hold” from the fourteen brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $166.00.

Several analysts have recently weighed in on WLK shares. UBS Group reduced their target price on Westlake from $172.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. BMO Capital Markets increased their price objective on Westlake from $167.00 to $171.00 and gave the company a “market perform” rating in a report on Tuesday, August 13th. Barclays lifted their target price on shares of Westlake from $160.00 to $162.00 and gave the company an “equal weight” rating in a report on Monday, June 17th. StockNews.com upgraded shares of Westlake from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. Finally, Mizuho assumed coverage on shares of Westlake in a research note on Thursday, August 8th. They issued an “outperform” rating and a $170.00 price objective on the stock.

Hedge Funds Weigh In On Westlake

A number of large investors have recently modified their holdings of the business. Wealthcare Advisory Partners LLC acquired a new position in Westlake during the first quarter worth $1,273,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Westlake in the 1st quarter valued at about $3,254,000. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Westlake by 48.0% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 15,309 shares of the specialty chemicals company’s stock valued at $2,143,000 after purchasing an additional 4,966 shares during the period. Comerica Bank boosted its holdings in Westlake by 17.9% during the first quarter. Comerica Bank now owns 24,490 shares of the specialty chemicals company’s stock worth $3,742,000 after buying an additional 3,710 shares in the last quarter. Finally, Avantax Advisory Services Inc. acquired a new position in Westlake during the first quarter worth about $207,000. 28.40% of the stock is owned by hedge funds and other institutional investors.

Westlake Stock Down 0.8 %

WLK stock opened at $136.40 on Friday. The stock has a market cap of $17.54 billion, a P/E ratio of 68.54, a PEG ratio of 1.83 and a beta of 1.18. The company has a current ratio of 2.61, a quick ratio of 1.94 and a debt-to-equity ratio of 0.41. Westlake has a twelve month low of $112.77 and a twelve month high of $162.64. The company’s 50 day moving average is $144.31 and its two-hundred day moving average is $148.28.

Westlake (NYSE:WLK) last announced its quarterly earnings results on Tuesday, August 6th. The specialty chemicals company reported $2.40 EPS for the quarter, topping the consensus estimate of $1.99 by $0.41. Westlake had a net margin of 2.27% and a return on equity of 7.84%. The firm had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.22 billion. During the same period last year, the business earned $2.31 EPS. Westlake’s revenue for the quarter was down 1.4% compared to the same quarter last year. Research analysts expect that Westlake will post 6.95 earnings per share for the current fiscal year.

Westlake Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Tuesday, August 20th were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend was Tuesday, August 20th. This is a positive change from Westlake’s previous quarterly dividend of $0.50. Westlake’s payout ratio is currently 105.53%.

Westlake Company 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.