Shares of Westlake Chemical Corp. (NYSE:WLK) saw an uptick in trading volume on Thursday . 1,242,438 shares changed hands during mid-day trading, an increase of 32% from the previous session’s volume of 941,383 shares.The stock last traded at $48.44 and had previously closed at $47.53.

A number of brokerages have recently commented on WLK. Vetr downgraded shares of Westlake Chemical Corp. from a “buy” rating to a “hold” rating and set a $48.76 price objective for the company. in a research report on Monday, August 8th. Nomura set a $53.00 price objective on shares of Westlake Chemical Corp. and gave the company a “hold” rating in a research report on Monday, August 1st. SunTrust Banks Inc. raised shares of Westlake Chemical Corp. from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $44.00 to $52.00 in a research report on Wednesday, June 15th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $52.00 price objective (up previously from $50.00) on shares of Westlake Chemical Corp. in a research report on Monday, June 13th. Finally, Cowen and Company reissued an “outperform” rating and issued a $60.00 price objective (up previously from $53.00) on shares of Westlake Chemical Corp. in a research report on Monday, June 13th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $56.64.

The firm has a 50 day moving average of $44.81 and a 200 day moving average of $45.40. The firm has a market capitalization of $6.24 billion and a price-to-earnings ratio of 12.08.

Westlake Chemical Corp. (NYSE:WLK) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.85 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by $0.11. During the same quarter last year, the firm posted $1.41 EPS. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.06 billion. The company’s revenue was down 8.3% on a year-over-year basis. On average, equities analysts expect that Westlake Chemical Corp. will post $3.77 earnings per share for the current fiscal year.

A number of hedge funds and institutional investors have added to or reduced their stakes in the company. Rhumbline Advisers increased its position in Westlake Chemical Corp. by 3.9% in the fourth quarter. Rhumbline Advisers now owns 26,277 shares of the company’s stock valued at $1,427,000 after buying an additional 985 shares during the last quarter. Mizuho Trust & Banking Co. Ltd. increased its stake in shares of Westlake Chemical Corp. by 0.4% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 65,040 shares of the company’s stock valued at $3,565,000 after buying an additional 286 shares in the last quarter. Cornerstone Capital Management Holdings LLC. increased its stake in shares of Westlake Chemical Corp. by 47.2% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 68,240 shares of the company’s stock valued at $3,707,000 after buying an additional 21,872 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Westlake Chemical Corp. by 103.5% in the fourth quarter. Wells Fargo & Company MN now owns 219,425 shares of the company’s stock valued at $11,919,000 after buying an additional 111,589 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Westlake Chemical Corp. by 32.6% in the fourth quarter. Principal Financial Group Inc. now owns 226,815 shares of the company’s stock valued at $12,320,000 after buying an additional 55,794 shares in the last quarter.

Westlake Chemical Corporation is a vertically integrated 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 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.

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