Westlake Chemical Co. (NYSE:WLK) EVP Robert F. Buesinger sold 2,674 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $98.50, for a total transaction of $263,389.00. Following the completion of the sale, the executive vice president now directly owns 6,635 shares in the company, valued at approximately $653,547.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Shares of Westlake Chemical Co. (WLK) opened at $98.41 on Wednesday. Westlake Chemical Co. has a fifty-two week low of $55.83 and a fifty-two week high of $99.71. The company has a current ratio of 2.31, a quick ratio of 1.59 and a debt-to-equity ratio of 0.74. The company has a market cap of $12,540.00, a PE ratio of 19.75, a price-to-earnings-growth ratio of 1.78 and a beta of 1.72.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Monday, November 27th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, November 24th. This represents a $0.84 dividend on an annualized basis and a yield of 0.85%. Westlake Chemical’s payout ratio is presently 18.22%.

A number of institutional investors have recently added to or reduced their stakes in WLK. Tortoise Capital Advisors L.L.C. lifted its position in Westlake Chemical by 6,376.2% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 1,360 shares of the specialty chemicals company’s stock valued at $113,000 after purchasing an additional 1,339 shares during the period. Cornerstone Capital Management Holdings LLC. acquired a new position in Westlake Chemical during the 3rd quarter valued at about $137,000. Advisors Asset Management Inc. lifted its position in Westlake Chemical by 162.8% during the 2nd quarter. Advisors Asset Management Inc. now owns 2,276 shares of the specialty chemicals company’s stock valued at $151,000 after purchasing an additional 1,410 shares during the period. Verity Asset Management Inc. acquired a new position in Westlake Chemical during the 2nd quarter valued at about $204,000. Finally, Quantitative Systematic Strategies LLC acquired a new position in Westlake Chemical during the 3rd quarter valued at about $204,000. Institutional investors own 30.42% of the company’s stock.

A number of brokerages have commented on WLK. UBS increased their price objective on shares of Westlake Chemical from $56.00 to $61.00 and gave the stock a “sell” rating in a report on Friday, October 13th. Royal Bank Of Canada reissued a “buy” rating on shares of Westlake Chemical in a report on Wednesday, September 6th. SunTrust Banks reissued a “buy” rating and set a $86.00 price objective on shares of Westlake Chemical in a report on Wednesday, September 6th. Citigroup began coverage on shares of Westlake Chemical in a report on Tuesday, October 24th. They set a “buy” rating and a $97.00 price objective on the stock. Finally, Zacks Investment Research raised shares of Westlake Chemical from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a report on Friday, October 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Westlake Chemical has a consensus rating of “Buy” and a consensus price target of $96.45.

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Westlake Chemical 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.

Insider Buying and Selling by Quarter for Westlake Chemical (NYSE:WLK)

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