Westlake (NYSE:WLK) Sets New 52-Week Low – Time to Sell?

Shares of Westlake Co. (NYSE:WLK) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $118.50 and last traded at $118.95, with a volume of 9466 shares traded. The stock had previously closed at $120.11.

Analyst Ratings Changes

WLK has been the topic of several research analyst reports. UBS Group dropped their price target on Westlake from $160.00 to $144.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. StockNews.com upgraded Westlake from a “sell” rating to a “hold” rating in a research report on Tuesday, November 26th. Royal Bank of Canada reduced their price target on shares of Westlake from $170.00 to $167.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. Piper Sandler dropped their price objective on shares of Westlake from $180.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, September 5th. Finally, Wells Fargo & Company reduced their target price on shares of Westlake from $180.00 to $160.00 and set an “overweight” rating for the company in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $162.17.

Westlake Price Performance

The stock has a market capitalization of $15.38 billion, a price-to-earnings ratio of 168.25, a PEG ratio of 2.31 and a beta of 1.16. The company has a current ratio of 2.79, a quick ratio of 2.04 and a debt-to-equity ratio of 0.41. The stock has a 50-day moving average price of $132.03 and a 200 day moving average price of $141.15.

Westlake (NYSE:WLK) last issued its quarterly earnings data on Tuesday, November 5th. The specialty chemicals company reported $1.41 EPS for the quarter, missing the consensus estimate of $2.21 by ($0.80). Westlake had a net margin of 0.81% and a return on equity of 6.93%. The business had revenue of $3.12 billion during the quarter, compared to analyst estimates of $3.31 billion. During the same period in the previous year, the business posted $2.20 earnings per share. The firm’s revenue for the quarter was up .1% on a year-over-year basis. As a group, equities research analysts expect that Westlake Co. will post 6.47 earnings per share for the current year.

Westlake Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 26th were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 1.76%. The ex-dividend date was Tuesday, November 26th. Westlake’s payout ratio is 295.77%.

Insider Activity

In related news, Director David Tsung-Hung Chao sold 1,750 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $130.00, for a total value of $227,500.00. Following the completion of the transaction, the director now directly owns 9,534 shares of the company’s stock, valued at approximately $1,239,420. This represents a 15.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 74.10% of the company’s stock.

Institutional Investors Weigh In On Westlake

A number of large investors have recently modified their holdings of WLK. Continuum Advisory LLC lifted its stake in shares of Westlake by 43.2% in the third quarter. Continuum Advisory LLC now owns 318 shares of the specialty chemicals company’s stock worth $48,000 after buying an additional 96 shares in the last quarter. Quest Partners LLC raised its holdings in Westlake by 8,400.0% in the 2nd quarter. Quest Partners LLC now owns 340 shares of the specialty chemicals company’s stock valued at $49,000 after acquiring an additional 336 shares during the last quarter. Brooklyn Investment Group purchased a new position in Westlake in the 3rd quarter worth approximately $62,000. Itau Unibanco Holding S.A. acquired a new position in shares of Westlake during the 2nd quarter worth approximately $66,000. Finally, nVerses Capital LLC purchased a new stake in shares of Westlake in the third quarter valued at approximately $75,000. Hedge funds and other institutional investors own 28.40% of the company’s stock.

Westlake Company Profile

Westlake Corporation engages in the manufacture and marketing of performance and essential materials, and housing and infrastructure products in the United States, Canada, Germany, China, Mexico, Brazil, France, Italy, Taiwan, and internationally. The company operates through two segments: Performance and Essential Materials and Housing and Infrastructure Products.