ClariVest Asset Management LLC lowered its position in shares of Westlake Chemical Co. (NYSE:WLK) by 2.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 140,998 shares of the specialty chemicals company’s stock after selling 3,820 shares during the period. ClariVest Asset Management LLC’s holdings in Westlake Chemical were worth $15,672,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Tyers Asset Management LLC boosted its position in Westlake Chemical by 89.9% during the 1st quarter. Tyers Asset Management LLC now owns 43,824 shares of the specialty chemicals company’s stock valued at $4,871,000 after buying an additional 20,746 shares during the period. Riverhead Capital Management LLC lifted its position in shares of Westlake Chemical by 90.0% in the 1st quarter. Riverhead Capital Management LLC now owns 35,190 shares of the specialty chemicals company’s stock worth $3,911,000 after purchasing an additional 16,670 shares during the period. Neuburgh Advisers LLC lifted its position in shares of Westlake Chemical by 89.9% in the 1st quarter. Neuburgh Advisers LLC now owns 67,728 shares of the specialty chemicals company’s stock worth $7,528,000 after purchasing an additional 32,062 shares during the period. O Shaughnessy Asset Management LLC lifted its position in shares of Westlake Chemical by 379.7% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 7,191 shares of the specialty chemicals company’s stock worth $799,000 after purchasing an additional 5,692 shares during the period. Finally, Focused Wealth Management Inc purchased a new stake in shares of Westlake Chemical in the 1st quarter worth about $195,000. 30.75% of the stock is owned by institutional investors and hedge funds.

Shares of Westlake Chemical stock opened at $120.73 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.79 and a quick ratio of 1.22. The stock has a market capitalization of $15.25 billion, a P/E ratio of 22.07, a price-to-earnings-growth ratio of 1.11 and a beta of 1.56. Westlake Chemical Co. has a 1 year low of $118.77 and a 1 year high of $121.82.

Westlake Chemical (NYSE:WLK) last issued its quarterly earnings results on Thursday, May 3rd. The specialty chemicals company reported $2.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.09 by $0.11. The company had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.14 billion. Westlake Chemical had a net margin of 17.61% and a return on equity of 17.77%. Westlake Chemical’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period last year, the business earned $1.06 EPS. equities research analysts expect that Westlake Chemical Co. will post 8.71 earnings per share for the current fiscal year.

Several equities research analysts have recently commented on the stock. ValuEngine raised shares of Westlake Chemical from a “hold” rating to a “buy” rating in a research report on Saturday, May 12th. Zacks Investment Research cut shares of Westlake Chemical from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 14th. Cowen raised their target price on shares of Westlake Chemical from $122.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, May 11th. BMO Capital Markets assumed coverage on shares of Westlake Chemical in a research report on Tuesday, March 27th. They issued a “market perform” rating and a $125.00 target price for the company. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $121.00 target price on shares of Westlake Chemical in a research report on Friday, February 23rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $115.93.

In related news, SVP Andrew Kenner sold 24,318 shares of the stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $110.61, for a total value of $2,689,813.98. Following the completion of the transaction, the senior vice president now directly owns 20,005 shares in the company, valued at approximately $2,212,753.05. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO L. Benjamin Ederington sold 6,942 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $111.45, for a total transaction of $773,685.90. Following the completion of the transaction, the chief accounting officer now owns 13,111 shares of the company’s stock, valued at $1,461,220.95. The disclosure for this sale can be found here. Over the last quarter, insiders sold 128,085 shares of company stock valued at $14,481,611. 72.00% of the stock is owned by company insiders.

About Westlake Chemical

Westlake Chemical Corporation manufactures and markets basic chemicals, vinyls, polymers, and building products primarily in North America and Europe. It operates through two segments, Olefins and Vinyls. The Olefins segment offers polyethylene, styrene monomers, and various ethylene co-products, as well as sells propylene, crude butadiene, pyrolysis gasoline, and hydrogen products.

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Institutional Ownership by Quarter for Westlake Chemical (NYSE:WLK)

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