Westlake Chemical Partners LP (NYSE:WLKP) CEO Albert Chao acquired 14,944 shares of the business’s stock in a transaction dated Friday, November 16th. The shares were acquired at an average cost of $23.26 per share, with a total value of $347,597.44. Following the transaction, the chief executive officer now owns 73,597 shares in the company, valued at $1,711,866.22. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Albert Chao also recently made the following trade(s):

  • On Monday, November 19th, Albert Chao acquired 10,386 shares of Westlake Chemical Partners stock. The shares were acquired at an average cost of $23.24 per share, with a total value of $241,370.64.
  • On Wednesday, November 14th, Albert Chao acquired 17,605 shares of Westlake Chemical Partners stock. The shares were acquired at an average cost of $23.32 per share, with a total value of $410,548.60.

Shares of Westlake Chemical Partners stock opened at $22.60 on Wednesday. The firm has a market capitalization of $741.68 million, a P/E ratio of 13.14, a PEG ratio of 5.10 and a beta of 1.05. The company has a quick ratio of 3.87, a current ratio of 3.94 and a debt-to-equity ratio of 0.50. Westlake Chemical Partners LP has a fifty-two week low of $21.35 and a fifty-two week high of $27.75.

Westlake Chemical Partners (NYSE:WLKP) last issued its earnings results on Tuesday, November 6th. The basic materials company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.03). The firm had revenue of $363.70 million during the quarter, compared to the consensus estimate of $309.70 million. Westlake Chemical Partners had a return on equity of 5.45% and a net margin of 4.21%. The company’s quarterly revenue was up 22.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.47 EPS. On average, sell-side analysts forecast that Westlake Chemical Partners LP will post 1.62 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 26th. Investors of record on Friday, November 9th will be issued a $0.4207 dividend. The ex-dividend date is Thursday, November 8th. This represents a $1.68 annualized dividend and a yield of 7.45%. This is an increase from Westlake Chemical Partners’s previous quarterly dividend of $0.41. Westlake Chemical Partners’s dividend payout ratio is currently 97.67%.

A number of brokerages have recently issued reports on WLKP. Zacks Investment Research downgraded shares of Westlake Chemical Partners from a “hold” rating to a “sell” rating in a research report on Friday, November 9th. Citigroup set a $27.00 price objective on shares of Westlake Chemical Partners and gave the company a “buy” rating in a research report on Thursday, November 8th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $26.60.

A number of institutional investors have recently modified their holdings of the stock. OppenheimerFunds Inc. boosted its holdings in Westlake Chemical Partners by 30.5% in the 2nd quarter. OppenheimerFunds Inc. now owns 5,412,950 shares of the basic materials company’s stock worth $132,618,000 after buying an additional 1,264,490 shares during the period. Janus Henderson Group PLC boosted its holdings in Westlake Chemical Partners by 4.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,632,748 shares of the basic materials company’s stock worth $40,655,000 after buying an additional 64,388 shares during the period. Duff & Phelps Investment Management Co. boosted its holdings in Westlake Chemical Partners by 3.5% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 674,020 shares of the basic materials company’s stock worth $16,783,000 after buying an additional 22,560 shares during the period. Tiedemann Advisors LLC boosted its holdings in Westlake Chemical Partners by 6.8% in the 2nd quarter. Tiedemann Advisors LLC now owns 345,465 shares of the basic materials company’s stock worth $8,464,000 after buying an additional 21,900 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Westlake Chemical Partners in the 2nd quarter worth $5,633,000. 46.91% of the stock is owned by institutional investors.

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About Westlake Chemical Partners

Westlake Chemical Partners LP operates, acquires, and develops ethylene production facilities and related assets in the United States. The company operates ethylene production facilities, which primarily convert ethane into ethylene. It also sells ethylene co-products, including propylene, crude butadiene, pyrolysis gasoline, and hydrogen directly to third parties on a spot or contract basis.

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