Teacher Retirement System of Texas raised its stake in shares of Westlake Chemical Corporation (NYSE:WLK) by 35.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 489,100 shares of the specialty chemicals company’s stock after buying an additional 127,700 shares during the period. Teacher Retirement System of Texas owned approximately 0.38% of Westlake Chemical Corporation worth $32,383,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. Amalgamated Bank boosted its stake in shares of Westlake Chemical Corporation by 3.4% in the first quarter. Amalgamated Bank now owns 5,445 shares of the specialty chemicals company’s stock valued at $360,000 after buying an additional 177 shares in the last quarter. ARGI Investment Services LLC boosted its stake in shares of Westlake Chemical Corporation by 1.7% in the first quarter. ARGI Investment Services LLC now owns 19,971 shares of the specialty chemicals company’s stock valued at $1,320,000 after buying an additional 335 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Westlake Chemical Corporation by 0.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 52,727 shares of the specialty chemicals company’s stock valued at $3,483,000 after buying an additional 358 shares in the last quarter. Polaris Greystone Financial Group LLC boosted its stake in shares of Westlake Chemical Corporation by 3.5% in the first quarter. Polaris Greystone Financial Group LLC now owns 15,718 shares of the specialty chemicals company’s stock valued at $1,038,000 after buying an additional 537 shares in the last quarter. Finally, Miller Howard Investments Inc. NY boosted its stake in shares of Westlake Chemical Corporation by 0.4% in the first quarter. Miller Howard Investments Inc. NY now owns 141,240 shares of the specialty chemicals company’s stock valued at $9,329,000 after buying an additional 581 shares in the last quarter. Hedge funds and other institutional investors own 29.86% of the company’s stock.

Shares of Westlake Chemical Corporation (WLK) opened at 69.34 on Friday. The company has a 50-day moving average of $68.53 and a 200-day moving average of $65.05. The stock has a market capitalization of $8.95 billion, a price-to-earnings ratio of 19.82 and a beta of 1.67. Westlake Chemical Corporation has a 52-week low of $47.55 and a 52-week high of $72.00.

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

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A number of analysts recently weighed in on WLK shares. J P Morgan Chase & Co increased their price objective on shares of Westlake Chemical Corporation from $70.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 31st. BidaskClub raised shares of Westlake Chemical Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. Zacks Investment Research lowered shares of Westlake Chemical Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday. Cowen and Company increased their price objective on shares of Westlake Chemical Corporation from $66.00 to $70.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 23rd. Finally, Bank of America Corporation reissued a “neutral” rating and issued a $68.00 price objective on shares of Westlake Chemical Corporation in a research 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. The company presently has a consensus rating of “Buy” and a consensus price target of $64.67.

In other Westlake Chemical Corporation news, VP George J. Mangieri sold 6,578 shares of Westlake Chemical Corporation stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $62.21, for a total transaction of $409,217.38. Following the transaction, the vice president now directly owns 6,577 shares of the company’s stock, valued at $409,155.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 71.70% of the stock is owned by insiders.

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.

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

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