SG Capital Management LLC bought a new stake in shares of Westlake Chemical Corporation (NYSE:WLK) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 40,737 shares of the specialty chemicals company’s stock, valued at approximately $2,697,000.

A number of other institutional investors have also added to or reduced their stakes in WLK. Vanguard Group Inc. raised its position in Westlake Chemical Corporation by 8.4% in the first quarter. Vanguard Group Inc. now owns 4,201,948 shares of the specialty chemicals company’s stock valued at $277,538,000 after buying an additional 326,298 shares during the last quarter. FMR LLC raised its position in Westlake Chemical Corporation by 7.5% in the first quarter. FMR LLC now owns 2,442,430 shares of the specialty chemicals company’s stock valued at $161,323,000 after buying an additional 171,342 shares during the last quarter. BlackRock Inc. raised its position in Westlake Chemical Corporation by 14,246.4% in the first quarter. BlackRock Inc. now owns 1,699,615 shares of the specialty chemicals company’s stock valued at $112,260,000 after buying an additional 1,687,768 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Westlake Chemical Corporation by 215.3% in the first quarter. TIAA CREF Investment Management LLC now owns 1,368,155 shares of the specialty chemicals company’s stock valued at $90,367,000 after buying an additional 934,281 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Westlake Chemical Corporation by 12.1% in the first quarter. Wellington Management Group LLP now owns 1,308,381 shares of the specialty chemicals company’s stock valued at $86,420,000 after buying an additional 141,114 shares in the last quarter. Hedge funds and other institutional investors own 29.86% of the company’s stock.

Westlake Chemical Corporation (NYSE:WLK) traded up 0.26% during mid-day trading on Friday, reaching $69.34. The company had a trading volume of 1,007,309 shares. Westlake Chemical Corporation has a 52-week low of $47.55 and a 52-week high of $72.00. The stock has a market capitalization of $8.95 billion, a price-to-earnings ratio of 19.82 and a beta of 1.67. The company’s 50 day moving average is $68.53 and its 200 day moving average is $65.05.

Westlake Chemical Corporation (NYSE:WLK) last announced its earnings results on Thursday, August 3rd. The specialty chemicals company reported $1.21 EPS for the quarter, topping the consensus estimate of $1.19 by $0.02. The business had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $2 billion. Westlake Chemical Corporation had a return on equity of 13.68% and a net margin of 6.57%. Westlake Chemical Corporation’s revenue was up 82.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.85 EPS. Equities analysts predict that Westlake Chemical Corporation will post $4.64 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: “40,737 Shares in Westlake Chemical Corporation (NYSE:WLK) Acquired by SG Capital Management LLC” was reported by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are reading this story on another website, it was illegally stolen and republished in violation of US and international trademark & copyright laws. The correct version of this story can be read at https://theolympiareport.com/2017/08/12/sg-capital-management-llc-purchases-shares-of-40737-westlake-chemical-corporation-nysewlk-updated.html.

Several equities research analysts have commented on WLK shares. Cowen and Company restated a “buy” rating and set a $70.00 price target on shares of Westlake Chemical Corporation in a research note on Friday, July 14th. J P Morgan Chase & Co increased their target price on Westlake Chemical Corporation from $70.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, May 31st. Zacks Investment Research lowered Westlake Chemical Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday. BidaskClub raised Westlake Chemical Corporation from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 13th. Finally, Bank of America Corporation reissued a “neutral” rating and issued a $68.00 price target on shares of Westlake Chemical Corporation in a report on Monday, May 8th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Westlake Chemical Corporation currently has a consensus rating of “Buy” and a consensus price target of $64.67.

In related news, VP George J. Mangieri sold 6,578 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $62.21, for a total value of $409,217.38. Following the completion of the transaction, the vice president now owns 6,577 shares in the company, valued at approximately $409,155.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 71.70% of the company’s stock.

About Westlake Chemical Corporation

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.

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

Receive News & Ratings for Westlake Chemical Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Westlake Chemical Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.