Westlake Chemical Corporation (NYSE:WLK)‘s stock had its “buy” rating reiterated by research analysts at Alembic Global Advisors in a report issued on Friday.

A number of other equities research analysts have also issued reports on WLK. Zacks Investment Research lowered Westlake Chemical from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Royal Bank Of Canada reissued a “buy” rating on shares of Westlake Chemical in a research report on Friday, August 4th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $93.00 target price on shares of Westlake Chemical in a research report on Thursday, September 28th. Nomura raised Westlake Chemical from a “neutral” rating to a “buy” rating and set a $98.00 target price on the stock in a research report on Tuesday, September 26th. Finally, ValuEngine lowered Westlake Chemical from a “buy” rating to a “hold” rating in a research report on Tuesday, November 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $96.45.

Shares of Westlake Chemical (NYSE:WLK) opened at $94.59 on Friday. Westlake Chemical has a 1 year low of $54.11 and a 1 year high of $96.14. The stock has a market capitalization of $12,210.00, a P/E ratio of 19.00, a P/E/G ratio of 1.79 and a beta of 1.67. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.31 and a quick ratio of 1.59.

In other Westlake Chemical news, SVP George J. Mangieri sold 13,381 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $94.44, for a total value of $1,263,701.64. Following the completion of the transaction, the senior vice president now directly owns 10,195 shares in the company, valued at $962,815.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Albert Chao sold 25,000 shares of the firm’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 transaction, the chief executive officer now owns 299,018 shares of the company’s stock, valued at $28,209,358.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 110,860 shares of company stock valued at $10,432,968. Corporate insiders own 71.70% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Private Advisor Group LLC boosted its stake in shares of Westlake Chemical by 3.1% during the 2nd quarter. Private Advisor Group LLC now owns 3,388 shares of the specialty chemicals company’s stock worth $229,000 after acquiring an additional 103 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Westlake Chemical by 5.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,922 shares of the specialty chemicals company’s stock worth $260,000 after acquiring an additional 211 shares during the period. Voya Investment Management LLC boosted its stake in shares of Westlake Chemical by 2.5% during the 2nd quarter. Voya Investment Management LLC now owns 11,852 shares of the specialty chemicals company’s stock worth $785,000 after acquiring an additional 286 shares during the period. SG Americas Securities LLC boosted its stake in shares of Westlake Chemical by 4.5% during the 2nd quarter. SG Americas Securities LLC now owns 6,805 shares of the specialty chemicals company’s stock worth $451,000 after acquiring an additional 296 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Westlake Chemical by 6.8% during the 2nd quarter. Principal Financial Group Inc. now owns 6,805 shares of the specialty chemicals company’s stock worth $451,000 after acquiring an additional 435 shares during the period. Hedge funds and other institutional investors own 29.45% of the company’s stock.

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About Westlake Chemical

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.

Analyst Recommendations for Westlake Chemical (NYSE:WLK)

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