C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Takes $534,000 Position in Westlake Co. (NYSE:WLK)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Westlake Co. (NYSE:WLK) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 4,658 shares of the specialty chemicals company’s stock, valued at approximately $534,000.

Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in shares of Westlake by 247.7% during the fourth quarter. Blue Trust Inc. now owns 226 shares of the specialty chemicals company’s stock worth $26,000 after buying an additional 161 shares in the last quarter. Continuum Advisory LLC raised its position in Westlake by 43.2% in the third quarter. Continuum Advisory LLC now owns 318 shares of the specialty chemicals company’s stock valued at $48,000 after purchasing an additional 96 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of Westlake in the third quarter valued at approximately $62,000. nVerses Capital LLC bought a new position in Westlake in the 3rd quarter valued at approximately $75,000. Finally, GAMMA Investing LLC grew its holdings in Westlake by 72.0% during the 4th quarter. GAMMA Investing LLC now owns 523 shares of the specialty chemicals company’s stock worth $60,000 after acquiring an additional 219 shares during the last quarter. 28.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WLK has been the topic of several recent research reports. BMO Capital Markets cut their target price on Westlake from $171.00 to $165.00 and set a “market perform” rating on the stock in a report on Wednesday, November 13th. Wells Fargo & Company cut their price objective on Westlake from $180.00 to $160.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th. Morgan Stanley decreased their target price on shares of Westlake from $155.00 to $130.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Piper Sandler lowered their price target on shares of Westlake from $155.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Finally, UBS Group upgraded shares of Westlake from a “neutral” rating to a “buy” rating and set a $144.00 price objective for the company in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $155.79.

Insider Buying and Selling

In related news, Director David Tsung-Hung Chao sold 1,750 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $129.08, for a total value of $225,890.00. Following the transaction, the director now owns 7,784 shares of the company’s stock, valued at approximately $1,004,758.72. This trade represents a 18.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 74.10% of the stock is owned by company insiders.

Westlake Stock Up 1.4 %

WLK stock opened at $112.60 on Friday. The company has a market cap of $14.49 billion, a P/E ratio of 158.60, a price-to-earnings-growth ratio of 2.40 and a beta of 1.17. Westlake Co. has a fifty-two week low of $108.56 and a fifty-two week high of $162.64. The stock’s 50 day simple moving average is $115.49 and its 200 day simple moving average is $130.89. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.04 and a current ratio of 2.79.

About Westlake

Westlake Corporation engages in the manufacture and marketing of performance and essential materials, and housing and infrastructure products in the United States, Canada, Germany, China, Mexico, Brazil, France, Italy, Taiwan, and internationally. The company operates through two segments: Performance and Essential Materials and Housing and Infrastructure Products.