Effectively hedging the stocks in today's share market: Westlake Chemical Corporation (WLK)

Mae Love
November 12, 2017

It increased, as 25 investors sold WLK shares while 57 reduced holdings.

Institutional investors and hedge funds have recently modified their holdings of the company. Quantitative Systematic Strategies LLC bought a new position in Westlake Chemical Corporation during the third quarter worth $204,000. Institutional ownership in the company is 33.80% while the short ratio is 4.69. The Connecticut-based Tide Point Capital Management Lp has invested 2.25% in the stock. Finally, HL Financial Services LLC bought a new position in Westlake Chemical Corporation during the third quarter worth $210,000. Morse Asset Management Inc bought a new position in shares of Westlake Chemical Corporation during the third quarter worth about $256,000. Accern also gave news coverage about the basic materials company an impact score of 47.4331531881159 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company's share price in the next few days. Finally, Verity Asset Management Inc. bought a new stake in Westlake Chemical Corporation in the second quarter valued at about $204,000. M&T Bank Corp now owns 7,808 shares of the company's stock worth $336,000 after buying an additional 1,630 shares during the period.

Westlake Chemical Corporation (NYSE:WLK) was down -0.59% (-$0.55) to $93.4 and showed a volume of 1.2 mln shares. The stock's average target of $30 is 36.05% above today's ($22.05) share price.

Westlake Chemical Corporation has a market capital of 12.03B at the moment and a profit to earnings ratio of 26.71.

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In addition to Vetr Inc. reporting its stock price target, a total of 25 brokerages have issued a ratings update on the company. Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock.

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Latest trading price was 32.96% upbeat to its 50-day moving average and above 56.52% to its 200-day moving average. The stock exchanged hands with 624,201 numbers of shares compared to its average daily volume of 680.40K shares.

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It dived, as 35 investors sold PHM shares while 170 reduced holdings. 56 funds opened positions while 130 raised stakes. Breton Hill Capital Ltd. lessened its position in PulteGroup, Inc. (NYSE:PHM) shares were sold by ANDERSON BRIAN P.

Westlake Chemical Corp. had a return on equity of 13.56% and a net margin of 9.50%. PTC Inc. (NASDAQ:PTC) earnings have declined with a quarterly rate of -1.5% over the last 5 years. The company reported $0.51 EPS for the quarter, missing the Thomson Reuters' consensus estimate of $0.90 by $0.39.

Walthausen & Company, which manages about $1.45 billion and $1.02 billion US Long portfolio, upped its stake in Heritage Crystal Clean Inc (NASDAQ:HCCI) by 202,230 shares to 660,650 shares, valued at $10.50 million in 2017Q2, according to the filing. The analyst recommendations from a month ago are 0 Buy, 5 Strong Buy, 0 Sell, 0 Hold and 3. Moreover, Anchor Bolt Capital Lp has 3.27% invested in the company for 1.26 million shares. Westlake Chemical Corporation has a 1 year low of $52.45 and a 1 year high of $96.14. The business had revenue of $296.78 million for the quarter. Stockholders of record on Thursday, December 1st were given a $0.1906 dividend. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.50 and a current ratio of 2.31.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 29th. Westlake Chemical Partners's payout ratio is presently 100.69%. If you are reading this story on another site, it was copied illegally and reposted in violation of U.S. and global copyright & trademark legislation. The original version of this report can be read at https://stocknewstimes.com/2017/11/12/citigroup-inc-begins-coverage-on-westlake-chemical-corporation-wlk.html. Goldman Sachs Group Inc. reiterated a "neutral" rating and issued a $51.00 price objective on shares of Westlake Chemical Corp.in a research note on Friday, September 30th. The other 13, though not evenly; between analysts who think you should buy Westlake Chemical Corporation versus those who think you should sell it. SunTrust Banks, Inc. reissued a "buy" rating and set a $86.00 price target on shares of Westlake Chemical Corporation in a research report on Wednesday, September 6th. TheStreet upgraded Westlake Chemical Corp. from a "hold" rating to a "buy" rating in a research note on Tuesday, August 23rd. They are one of the leading companies in the Specialty Chemicals in USA. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The stock now has an average rating of "Buy" and a consensus price target of $57.40. The stock was sold at an average price of $54.42, for a total value of $156,729.60. Insiders own 71.70% of the company's stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. It also manufactures and sells building products fabricated from PVC.

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