Schroder Investment Management Group Grows Position in Westlake Corporation $WLK

Schroder Investment Management Group raised its position in Westlake Corporation (NYSE:WLK) by 5.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 261,562 shares of the specialty chemicals company’s stock after buying an additional 12,581 shares during the quarter. Schroder Investment Management Group owned approximately 0.20% of Westlake worth $20,146,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Royal Bank of Canada increased its holdings in shares of Westlake by 90.0% in the 1st quarter. Royal Bank of Canada now owns 38,687 shares of the specialty chemicals company’s stock valued at $3,869,000 after acquiring an additional 18,321 shares during the period. AQR Capital Management LLC boosted its stake in Westlake by 9.6% during the 1st quarter. AQR Capital Management LLC now owns 19,094 shares of the specialty chemicals company’s stock worth $1,881,000 after purchasing an additional 1,668 shares during the period. United Services Automobile Association purchased a new position in Westlake during the 1st quarter worth $211,000. Atria Investments Inc purchased a new position in Westlake during the 2nd quarter worth $228,000. Finally, Allworth Financial LP increased its stake in Westlake by 52.8% in the second quarter. Allworth Financial LP now owns 1,409 shares of the specialty chemicals company’s stock valued at $107,000 after purchasing an additional 487 shares during the period. 28.40% of the stock is owned by institutional investors and hedge funds.

Westlake Stock Up 6.8%

Shares of NYSE:WLK opened at $114.32 on Friday. Westlake Corporation has a fifty-two week low of $56.33 and a fifty-two week high of $114.65. The company has a quick ratio of 1.65, a current ratio of 2.24 and a debt-to-equity ratio of 0.55. The firm’s 50-day simple moving average is $92.84 and its 200-day simple moving average is $81.20. The company has a market cap of $14.62 billion, a price-to-earnings ratio of -9.77 and a beta of 0.83.

Westlake (NYSE:WLK) last announced its quarterly earnings data on Tuesday, February 24th. The specialty chemicals company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($1.47) by $1.22. Westlake had a negative net margin of 13.50% and a negative return on equity of 1.22%. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter last year, the firm earned $0.06 earnings per share. The firm’s revenue was down 10.9% compared to the same quarter last year. As a group, equities research analysts predict that Westlake Corporation will post 6.48 earnings per share for the current year.

Westlake Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Tuesday, March 3rd will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, March 3rd. Westlake’s dividend payout ratio is -18.12%.

Analyst Ratings Changes

WLK has been the subject of a number of research reports. KeyCorp reaffirmed a “sector weight” rating on shares of Westlake in a report on Tuesday, December 16th. Wells Fargo & Company boosted their price target on Westlake from $70.00 to $100.00 and gave the company an “equal weight” rating in a research report on Thursday, February 26th. Morgan Stanley set a $80.00 price objective on Westlake in a research note on Monday, December 15th. Mizuho increased their price objective on Westlake from $88.00 to $97.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 25th. Finally, Bank of America reiterated a “buy” rating on shares of Westlake in a research note on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $98.13.

Insider Activity at Westlake

In other Westlake news, CFO Mark Steven Bender sold 17,409 shares of the stock in a transaction on Friday, February 27th. The stock was sold at an average price of $100.92, for a total value of $1,756,916.28. Following the completion of the transaction, the chief financial officer owned 44,433 shares in the company, valued at approximately $4,484,178.36. This represents a 28.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Albert Chao sold 40,836 shares of the firm’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $73.57, for a total value of $3,004,304.52. Following the completion of the sale, the chairman directly owned 627,722 shares of the company’s stock, valued at approximately $46,181,507.54. This trade represents a 6.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.30% of the stock is owned by company insiders.

About Westlake

Westlake Corp. is a global manufacturer of petrochemicals, polymers and building products, serving customers across industrial and residential markets. The company’s core operations encompass the production of vinyls—primarily polyvinyl chloride (PVC) and its key feedstock vinyl chloride monomer (VCM)—as well as chlor-alkali products including caustic soda and chlorine. In addition, Westlake produces ethylene, propylene and specialty elastomers, along with construction-related materials such as vinyl siding, trim, windows and roofing systems.

Operating a network of vertically integrated plants and distribution centers, Westlake serves markets in North America, Europe and Asia.