Westlake Chemical Corporation (NYSE:WLK) CEO Albert Chao sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $94.34, for a total value of $2,358,500.00. Following the completion of the sale, the chief executive officer now owns 299,018 shares in the company, valued at approximately $28,209,358.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Westlake Chemical Corporation (NYSE:WLK) traded up $0.38 during trading hours on Thursday, hitting $94.79. The company’s stock had a trading volume of 810,900 shares, compared to its average volume of 856,847. The firm has a market cap of $12,189.03, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 1.78 and a beta of 1.67. Westlake Chemical Corporation has a 52-week low of $54.11 and a 52-week high of $96.14. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.31 and a quick ratio of 1.59.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Monday, November 27th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Friday, November 24th. Westlake Chemical Corporation’s dividend payout ratio (DPR) is 18.26%.

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Several research analysts have weighed in on the company. UBS Group AG boosted their price target on Westlake Chemical Corporation from $56.00 to $61.00 and gave the stock a “sell” rating in a research report on Friday, October 13th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Westlake Chemical Corporation in a research report on Wednesday, September 6th. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $86.00 price target on shares of Westlake Chemical Corporation in a research report on Wednesday, September 6th. Zacks Investment Research raised Westlake Chemical Corporation from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a research report on Friday, October 13th. Finally, Citigroup Inc. assumed coverage on Westlake Chemical Corporation in a research report on Tuesday, October 24th. They set a “buy” rating and a $97.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Westlake Chemical Corporation currently has an average rating of “Buy” and an average target price of $93.55.

Large investors have recently bought and sold shares of the business. Tortoise Capital Advisors L.L.C. increased its holdings in shares of Westlake Chemical Corporation by 6,376.2% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 1,360 shares of the specialty chemicals company’s stock worth $113,000 after acquiring an additional 1,339 shares during the last quarter. Cornerstone Capital Management Holdings LLC. acquired a new position in shares of Westlake Chemical Corporation during the 3rd quarter worth approximately $137,000. Advisors Asset Management Inc. increased its holdings in shares of Westlake Chemical Corporation by 162.8% during the 2nd quarter. Advisors Asset Management Inc. now owns 2,276 shares of the specialty chemicals company’s stock worth $151,000 after acquiring an additional 1,410 shares during the last quarter. Verity Asset Management Inc. acquired a new position in shares of Westlake Chemical Corporation during the 2nd quarter worth approximately $204,000. Finally, Quantitative Systematic Strategies LLC acquired a new position in shares of Westlake Chemical Corporation during the 3rd quarter worth approximately $204,000. 29.45% of the stock is currently owned by hedge funds and other institutional investors.

Westlake Chemical Corporation Company Profile

Westlake Chemical Corporation is a global manufacturer and marketer of basic chemicals, vinyls, polymers and building products. The Company’s products include a range of chemicals, which are fundamental to various consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, water treatment, refrigerants, residential and commercial construction, as well as other durable and non-durable goods.

Insider Buying and Selling by Quarter for Westlake Chemical Corporation (NYSE:WLK)

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