November 30, 2016 - By Pete Kolinski · 0 Comments
Westlake Chemical Corp (NYSE:WLK) institutional sentiment increased to 0.75 in 2016 Q2. Its up 0.10, from 0.65 in 2016Q1. The ratio is more positive, as 96 hedge funds increased or started new holdings, while 148 sold and trimmed stock positions in Westlake Chemical Corp. The hedge funds in our partner’s database now have: 35.76 million shares, down from 40.71 million shares in 2016Q1. Also, the number of hedge funds holding Westlake Chemical Corp in their top 10 holdings increased from 1 to 2 for an increase of 1. Sold All: 59 Reduced: 89 Increased: 60 New Position: 36.
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 $7.51 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 18.91 P/E ratio. The Firm operates in two divisions: Olefins and Vinyls.
About 780,762 shares traded hands. Westlake Chemical Corporation (NYSE:WLK) has risen 4.19% since April 27, 2016 and is uptrending. It has underperformed by 1.03% the S&P500.
Analysts await Westlake Chemical Corporation (NYSE:WLK) to report earnings on February, 28. They expect $0.78 EPS, down 7.14% or $0.06 from last year’s $0.84 per share. WLK’s profit will be $99.10 million for 18.95 P/E if the $0.78 EPS becomes a reality. After $0.86 actual EPS reported by Westlake Chemical Corporation for the previous quarter, Wall Street now forecasts -9.30% negative EPS growth.
According to Zacks Investment Research, “Westlake Chemical Corporation is a vertically integrated international manufacturer and supplier of petrochemicals, polymers and fabricated products. The company’s range of products includes ethylene, polyethylene, styrene, vinyl intermediates, PVC, PVC Pipe, PVC windows, fence and decking components.”
Robotti Robert holds 4.2% of its portfolio in Westlake Chemical Corporation for 271,880 shares. Denali Advisors Llc owns 341,900 shares or 2.53% of their US portfolio. Moreover, Bronson Point Management Llc has 1.96% invested in the company for 136,000 shares. The New York-based Price Michael F has invested 1.32% in the stock. Viking Fund Management Llc, a North Dakota-based fund reported 175,000 shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 0 insider purchases, and 8 selling transactions for $7.32 million net activity.
Ratings analysis reveals 67% of Westlake Chemical’s analysts are positive. Out of 9 Wall Street analysts rating Westlake Chemical, 6 give it “Buy”, 0 “Sell” rating, while 3 recommend “Hold”. The lowest target is $52 while the high is $78. The stock’s average target of $59.22 is 0.19% above today’s ($59.11) share price. WLK was included in 19 notes of analysts from July 24, 2015. Deutsche Bank maintained the stock with “Hold” rating in Thursday, September 17 report. Goldman Sachs downgraded Westlake Chemical Corporation (NYSE:WLK) rating on Monday, August 10. Goldman Sachs has “Neutral” rating and $60 price target. The firm has “Overweight” rating given on Tuesday, August 16 by JP Morgan. The rating was initiated by Nomura on Friday, July 24 with “Neutral”. The stock has “Hold” rating given by Tudor Pickering on Friday, October 14. Cowen & Co maintained it with “Outperform” rating and $57.0 target price in Friday, January 8 report. The firm earned “Outperform” rating on Thursday, September 1 by Cowen & Co. RBC Capital Markets upgraded Westlake Chemical Corporation (NYSE:WLK) on Tuesday, August 23 to “Outperform” rating. Cowen & Co maintained Westlake Chemical Corporation (NYSE:WLK) rating on Monday, June 13. Cowen & Co has “Outperform” rating and $60 price target. The firm earned “Buy” rating on Wednesday, June 15 by Suntrust Robinson.
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: Prnewswire.com which released: “Westlake Chemical to Acquire Axiall Corporation for $33.00 Per Share in All …” on June 10, 2016, also Bizjournals.com with their article: “Westlake Chemical sets closing date for Axiall acquisition” published on August 18, 2016, Prnewswire.com published: “Westlake Chemical Issues Open Letter to Axiall Corporation Shareholders” on March 07, 2016. More interesting news about Westlake Chemical Corporation (NYSE:WLK) were released by: Businesswire.com and their article: “Westlake Chemical Corporation Announces Second Quarter 2016 Earnings” published on July 28, 2016 as well as Businesswire.com‘s news article titled: “Westlake Chemical Corporation Announces Quarterly Dividend” with publication date: November 21, 2016.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.
By Pete Kolinski