Noteworthy Short Interest Filing: Westlake Chemical Corporation (NYSE:WLK) Has Decline in Shorts

November 21, 2016 - By Vivian Park   ·   0 Comments

Noteworthy Short Interest Filing: Westlake Chemical Corporation (NYSE:WLK) Has Decline in Shorts

The stock of Westlake Chemical Corporation (NYSE:WLK) registered a decrease of 11.77% in short interest. WLK’s total short interest was 3.41M shares in November as published by FINRA. Its down 11.77% from 3.87 million shares, reported previously. With 1.06M shares average volume, it will take short sellers 3 days to cover their WLK’s short positions. The short interest to Westlake Chemical Corporation’s float is 9.42%. About 949,337 shares traded hands or 5.51% up from the average. Westlake Chemical Corporation (NYSE:WLK) has risen 7.10% since April 19, 2016 and is uptrending. It has outperformed by 3.23% the S&P500.

Westlake Chemical Corporation is a vertically integrated global maker and marketer of basic chemicals, vinyls, polymers and building products. The company has a market cap of $7.14 billion. The Company’s products include a range of chemicals, which are fundamental to various diverse consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, residential and commercial construction, as well as other durable and non-durable goods. It has a 17.85 P/E ratio. The Firm operates in two divisions: Olefins and Vinyls.

Insitutional Activity: The institutional sentiment increased to 0.75 in 2016 Q2. Its up 0.10, from 0.65 in 2016Q1. The ratio improved, as 59 funds sold all Westlake Chemical Corporation shares owned while 89 reduced positions. 36 funds bought stakes while 60 increased positions. They now own 35.76 million shares or 12.15% less from 40.71 million shares in 2016Q1.
Great West Life Assurance Communication Can owns 22,869 shares or 0% of their US portfolio. Geode Cap Management Limited Liability Corporation accumulated 0.01% or 587,329 shares. Victory holds 0% or 18,978 shares in its portfolio. The Pennsylvania-based Susquehanna Gru Llp has invested 0% in Westlake Chemical Corporation (NYSE:WLK). Stevens Capital Mgmt Limited Partnership last reported 0.04% of its portfolio in the stock. Cue Gru holds 0.58% of its portfolio in Westlake Chemical Corporation (NYSE:WLK) for 15,825 shares. Guggenheim Capital Ltd Liability Company last reported 0% of its portfolio in the stock. Timber Hill Ltd owns 5,686 shares or 0% of their US portfolio. Bronson Point Mgmt Ltd Liability Co, a Connecticut-based fund reported 136,000 shares. Lsv Asset Mgmt has invested 0% of its portfolio in Westlake Chemical Corporation (NYSE:WLK). Usa Finance Portformulas last reported 0.33% of its portfolio in the stock. Moreover, Royal Commercial Bank Of Canada has 0% invested in Westlake Chemical Corporation (NYSE:WLK) for 27,224 shares. Smith Graham & Ltd Partnership holds 0.42% or 70,296 shares in its portfolio. Perkins Inv Mngmt Limited Liability Corporation holds 0.73% of its portfolio in Westlake Chemical Corporation (NYSE:WLK) for 1.13 million shares. Cantab Cap Partners Ltd Liability Partnership has 0% invested in the company for 5,501 shares.

Insider Transactions: Since August 23, 2016, the stock had 0 buys, and 8 selling transactions for $7.32 million net activity. $982,776 worth of shares were sold by Mattina Michael J. on Tuesday, November 15. Shares for $156,737 were sold by Buesinger Robert F.. On Tuesday, August 23 Mangieri George J sold $1.60M worth of the stock or 30,714 shares. Chao Albert sold $1.08 million worth of stock or 20,000 shares. On Monday, November 14 the insider Chao James sold $1.06 million.

Westlake Chemical Corporation (NYSE:WLK) Ratings Coverage

Out of 9 analysts covering Westlake Chemical (NYSE:WLK), 6 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 67% are positive. Westlake Chemical has been the topic of 19 analyst reports since July 24, 2015 according to StockzIntelligence Inc. Cowen & Co maintained the stock with “Outperform” rating in Monday, June 13 report. On Wednesday, August 5 the stock rating was maintained by RBC Capital Markets with “Outperform”. Cowen & Co maintained Westlake Chemical Corporation (NYSE:WLK) rating on Thursday, September 1. Cowen & Co has “Outperform” rating and $65.0 price target. The stock has “Outperform” rating given by RBC Capital Markets on Tuesday, August 23. The firm has “Sector Perform” rating given on Monday, June 13 by RBC Capital Markets. Nomura initiated Westlake Chemical Corporation (NYSE:WLK) on Friday, July 24 with “Neutral” rating. The stock has “Sector Perform” rating given by RBC Capital Markets on Thursday, November 5. Cowen & Co maintained the stock with “Outperform” rating in Friday, January 8 report. The stock has “Buy” rating given by SunTrust on Wednesday, June 15. Suntrust Robinson upgraded Westlake Chemical Corporation (NYSE:WLK) rating on Wednesday, June 15. Suntrust Robinson has “Buy” rating and $52 price target.

WLK Company Profile

Westlake Chemical Corporation, incorporated on September 3, 1991, is a vertically integrated global maker and marketer of basic chemicals, vinyls, polymers and building products. The Company’s products include a range of chemicals, which are fundamental to various diverse consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, residential and commercial construction, as well as other durable and non-durable goods. The Firm operates in two divisions: Olefins and Vinyls. The Firm is also an integrated producer of vinyls with substantial downstream integration into polyvinyl chloride (PVC) building products.

More notable recent Westlake Chemical Corporation (NYSE:WLK) news were published by: Businesswire.com which released: “Westlake Chemical Corporation Announces Quarterly Dividend” on November 21, 2016, also Bloomberg.com with their article: “Westlake Agrees to Buy Vinyl Maker Axiall for $2.4 Billion” published on June 10, 2016, Businesswire.com published: “Westlake Chemical Completes Acquisition of Axiall Corporation” on August 31, 2016. More interesting news about Westlake Chemical Corporation (NYSE:WLK) were released by: Businesswire.com and their article: “Westlake Chemical Corporation Announces Third Quarter 2016 Earnings” published on November 08, 2016 as well as Prnewswire.com‘s news article titled: “Westlake Chemical Issues Open Letter to Axiall Corporation Shareholders” with publication date: March 07, 2016.

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By Vivian Park


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