The stock of Westlake Corporation (NYSE:WLK) last traded at $113.72, down -4.02% from the previous session.
Data from the available sources indicates that Westlake Corporation (NYSE:WLK) is covered by 20 analysts. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $142.00 and a low of $100.00, we find $125.00. Given the previous closing price of $118.48, this indicates a potential upside of 5.5 percent. WLK stock price is now -2.09% away from the 50-day moving average and 8.10% away from the 200-day moving average. The market capitalization of the company currently stands at $14.25B.
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In total, 11 analysts have assigned it a hold rating, and 6 have given it a buy rating. Brokers who have rated the stock have averaged $122.21 as their price target over the next twelve months.
With the price target enhanced from $125 to $128, RBC Capital Mkts Downgraded its rating from Outperform to Sector Perform for Westlake Corporation (NYSE: WLK). On November 15, 2022, JP Morgan Downgraded its previous ‘Overweight’ rating to ‘Neutral’ on the stock reducing its target price from $135 to quote $109, while ‘Deutsche Bank’ rates the stock as ‘Hold’.
In other news, Buesinger Robert F., EVP, HIP, IT & Digital sold 1,000 shares of the company’s stock on Aug 31. The stock was sold for $98,940 at an average price of $98.94. Upon completion of the transaction, the EVP, HIP, IT & Digital now directly owns 10,208 shares in the company, valued at $1.16 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 26, VP & Chief Accounting Officer Zoeller Johnathan Stevan sold 542 shares of the business’s stock. A total of $58,037 was realized by selling the stock at an average price of $107.08. This leaves the insider owning 543 shares of the company worth $61749.96. Insiders disposed of 120,963 shares of company stock worth roughly $13.76 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in WLK stock. A new stake in Westlake Corporation shares was purchased by ORBIS ALLAN GRAY LTD during the first quarter worth $222,465,000. POINT72 ASSET MANAGEMENT, L.P. invested $17,365,000 in shares of WLK during the first quarter. In the first quarter, APPIAN WAY ASSET MANAGEMENT LP acquired a new stake in Westlake Corporation valued at approximately $16,910,000. LUMINUS MANAGEMENT LLC acquired a new stake in WLK for approximately $10,297,000. BROOKFIELD CORP /ON/ purchased a new stake in WLK valued at around $5,194,000 in the second quarter. In total, there are 490 active investors with 28.10% ownership of the company’s stock.
With an opening price of $118.82 on Thursday morning, Westlake Corporation (NYSE: WLK) set off the trading day. During the past 12 months, Westlake Corporation has had a low of $81.29 and a high of $141.19. As of last week, the company has a debt-to-equity ratio of 0.49, a current ratio of 2.60, and a quick ratio of 1.80. The fifty day moving average price for WLK is $116.15 and a two-hundred day moving average price translates $105.19 for the stock.
The latest earnings results from Westlake Corporation (NYSE: WLK) was released for Sep, 2022. According to the Specialty Chemicals Company, earnings per share came in at $3.1, missing analysts’ expectations of $4.3 by -1.2. This compares to $5.14 EPS in the same period last year. The net profit margin was 14.10% and return on equity was 23.70% for WLK. The company reported revenue of $3.3 billion for the quarter, compared to $3.51 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -5.93 percent. For the current quarter, analysts expect WLK to generate $3.39B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 03/16/2023. Investors who held shares on 03/01/2023 were paid a $0.357 dividend. On an annualized basis, this represents a $1.43 dividend and a 1.26% percent yield. There was an ex-dividend date of 02/28/2023 for this dividend. In terms of dividend payout ratio, WLK is presently at 7.50%.
Westlake Corporation(WLK) Company Profile
Westlake Corporation manufactures and supplies petrochemicals, polymers, and building products worldwide. It operates through two segments, Performance and Essential Materials; and Housing and Infrastructure Products. The Performance and Essential Materials segment manufactures and markets polyethylene, styrene monomer, ethylene co-products, PVC, VCM, ethylene dichloride chlor-alkali, and chlorinated derivative products. The Housing and Infrastructure Products segment manufactures and sells residential PVC siding; PVC trim and moldings; roofing applications; decorative stone; windows; PVC decking; PVC films for various inflatables, wallcovering, tape, and roofing applications; polymer composite roof tiles; PVC pipe and fittings; PVC compounds; and various consumer and commercial products such as landscape edging; industrial, home and office matting; marine dock edging; and masonry joint controls. The company offers its products to a range of customers, including chemical processors, plastics fabricators, small construction contractors, municipalities, and supply warehouses for use in various consumer and industrial markets, including residential construction, flexible and rigid packaging, automotive products, healthcare products, water treatment, and coatings, as well as other durable and non-durable goods. The company was formerly known as Westlake Chemical Corporation and changed its name to Westlake Corporation in February 2022. The company was founded in 1986 and is headquartered in Houston, Texas. Westlake Corporation is a subsidiary of TTWF LP.
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