ING Groep NV Grows Stock Position in Westlake Chemical Partners LP $WLKP

ING Groep NV increased its stake in shares of Westlake Chemical Partners LP (NYSE:WLKP) by 152.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,000 shares of the basic materials company’s stock after purchasing an additional 32,000 shares during the quarter. ING Groep NV owned 0.15% of Westlake Chemical Partners worth $1,112,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of WLKP. Envestnet Asset Management Inc. increased its stake in shares of Westlake Chemical Partners by 4.4% during the second quarter. Envestnet Asset Management Inc. now owns 17,629 shares of the basic materials company’s stock worth $389,000 after acquiring an additional 751 shares during the period. Apollon Wealth Management LLC lifted its position in Westlake Chemical Partners by 5.9% in the third quarter. Apollon Wealth Management LLC now owns 19,737 shares of the basic materials company’s stock valued at $414,000 after purchasing an additional 1,106 shares during the period. U.S. Capital Wealth Advisors LLC boosted its holdings in Westlake Chemical Partners by 25.0% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 12,500 shares of the basic materials company’s stock valued at $262,000 after purchasing an additional 2,500 shares in the last quarter. Pathway Financial Advisers LLC increased its position in Westlake Chemical Partners by 2.4% during the 2nd quarter. Pathway Financial Advisers LLC now owns 105,907 shares of the basic materials company’s stock worth $2,339,000 after purchasing an additional 2,517 shares during the period. Finally, Osaic Holdings Inc. increased its position in Westlake Chemical Partners by 45.8% during the 2nd quarter. Osaic Holdings Inc. now owns 10,153 shares of the basic materials company’s stock worth $224,000 after purchasing an additional 3,187 shares during the period. 78.28% of the stock is owned by institutional investors and hedge funds.

Westlake Chemical Partners Price Performance

Shares of NYSE:WLKP opened at $21.32 on Friday. The firm has a market capitalization of $751.53 million, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 2.27 and a beta of 0.59. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.37 and a quick ratio of 2.32. The business’s 50 day simple moving average is $20.21 and its 200-day simple moving average is $20.45. Westlake Chemical Partners LP has a 12 month low of $17.75 and a 12 month high of $25.04.

Westlake Chemical Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 23rd. Stockholders of record on Friday, February 6th will be paid a dividend of $0.4714 per share. This represents a $1.89 annualized dividend and a dividend yield of 8.8%. The ex-dividend date of this dividend is Friday, February 6th. Westlake Chemical Partners’s payout ratio is 135.00%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Wall Street Zen raised Westlake Chemical Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Westlake Chemical Partners in a research report on Monday, December 29th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Westlake Chemical Partners currently has an average rating of “Hold”.

About Westlake Chemical Partners

Westlake Chemical Partners LP (NYSE: WLKP) is a publicly traded master limited partnership sponsored by Westlake Chemical Corporation. The partnership owns, operates and acquires a portfolio of ethylene and vinyl manufacturing assets throughout the United States and the United Kingdom. As a downstream producer of basic chemicals and intermediates, WLKP supplies key industrial feedstocks to customers in a variety of end markets.

WLKP’s operations are organized into two primary segments: olefins and vinyls.