Ameriprise Financial Inc. boosted its position in shares of Westlake Chemical Co. (NYSE:WLK) by 6.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 708,449 shares of the specialty chemicals company’s stock after buying an additional 43,282 shares during the quarter. Ameriprise Financial Inc. owned 0.55% of Westlake Chemical worth $58,874,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Private Advisor Group LLC lifted its holdings in shares of Westlake Chemical by 3.1% during the second quarter. Private Advisor Group LLC now owns 3,388 shares of the specialty chemicals company’s stock valued at $229,000 after purchasing an additional 103 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Westlake Chemical by 5.7% during the second quarter. The Manufacturers Life Insurance Company now owns 3,922 shares of the specialty chemicals company’s stock valued at $260,000 after purchasing an additional 211 shares during the last quarter. Voya Investment Management LLC lifted its holdings in shares of Westlake Chemical by 2.5% during the second quarter. Voya Investment Management LLC now owns 11,852 shares of the specialty chemicals company’s stock valued at $785,000 after purchasing an additional 286 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Westlake Chemical by 4.5% during the second quarter. SG Americas Securities LLC now owns 6,805 shares of the specialty chemicals company’s stock valued at $451,000 after purchasing an additional 296 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Westlake Chemical by 6.8% during the second quarter. Principal Financial Group Inc. now owns 6,805 shares of the specialty chemicals company’s stock valued at $451,000 after purchasing an additional 435 shares during the last quarter. 30.42% of the stock is owned by institutional investors and hedge funds.

In other news, EVP Lawrence E. Teel sold 12,712 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $93.99, for a total transaction of $1,194,800.88. Following the completion of the sale, the executive vice president now directly owns 2,290 shares of the company’s stock, valued at approximately $215,237.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert T. Blakely sold 4,367 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $92.33, for a total value of $403,205.11. Following the sale, the director now directly owns 11,700 shares of the company’s stock, valued at $1,080,261. The disclosure for this sale can be found here. Over the last three months, insiders sold 283,948 shares of company stock valued at $26,822,159. Company insiders own 72.50% of the company’s stock.

Shares of Westlake Chemical Co. (NYSE WLK) traded up $0.75 during trading on Thursday, reaching $96.09. The company had a trading volume of 904,700 shares, compared to its average volume of 855,472. The stock has a market cap of $12,309.10, a P/E ratio of 19.11, a P/E/G ratio of 1.73 and a beta of 1.67. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.59 and a current ratio of 2.31. Westlake Chemical Co. has a 1 year low of $54.11 and a 1 year high of $96.21.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Monday, November 27th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Friday, November 24th. Westlake Chemical’s dividend payout ratio is currently 18.26%.

WLK has been the subject of several analyst reports. UBS upped their target price on Westlake Chemical from $56.00 to $61.00 and gave the company a “sell” rating in a report on Friday, October 13th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Westlake Chemical in a report on Wednesday, September 6th. SunTrust Banks reaffirmed a “buy” rating and set a $86.00 target price on shares of Westlake Chemical in a report on Wednesday, September 6th. Citigroup initiated coverage on Westlake Chemical in a report on Tuesday, October 24th. They set a “buy” rating and a $97.00 target price for the company. Finally, Zacks Investment Research raised Westlake Chemical from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a report on Friday, October 13th. One 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 stock. Westlake Chemical currently has a consensus rating of “Buy” and a consensus price target of $96.45.

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Westlake Chemical 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 (NYSE:WLK)

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