Kestra Investment Management LLC Acquires 682 Shares of Westlake Co. (NYSE:WLK)

Kestra Investment Management LLC increased its holdings in Westlake Co. (NYSE:WLK) by 18.1% during the 4th quarter, Holdings Channel reports. The firm owned 4,445 shares of the specialty chemicals company’s stock after buying an additional 682 shares during the period. Kestra Investment Management LLC’s holdings in Westlake were worth $510,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of WLK. Blue Trust Inc. grew its stake in shares of Westlake by 247.7% in the fourth quarter. Blue Trust Inc. now owns 226 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 161 shares during the last quarter. Allworth Financial LP boosted its position in Westlake by 6,316.7% during the 4th quarter. Allworth Financial LP now owns 385 shares of the specialty chemicals company’s stock valued at $45,000 after acquiring an additional 379 shares in the last quarter. Continuum Advisory LLC boosted its position in Westlake by 43.2% during the 3rd quarter. Continuum Advisory LLC now owns 318 shares of the specialty chemicals company’s stock valued at $48,000 after acquiring an additional 96 shares in the last quarter. GAMMA Investing LLC boosted its position in Westlake by 72.0% during the 4th quarter. GAMMA Investing LLC now owns 523 shares of the specialty chemicals company’s stock valued at $60,000 after acquiring an additional 219 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in Westlake by 84.4% during the 4th quarter. Versant Capital Management Inc now owns 531 shares of the specialty chemicals company’s stock valued at $61,000 after acquiring an additional 243 shares in the last quarter. 28.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

WLK has been the topic of several research reports. StockNews.com raised Westlake from a “sell” rating to a “hold” rating in a research report on Tuesday, November 26th. BMO Capital Markets cut their price objective on Westlake from $171.00 to $165.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 13th. Truist Financial initiated coverage on Westlake in a research report on Tuesday, January 28th. They set a “buy” rating and a $168.00 price objective on the stock. Citigroup raised Westlake from a “neutral” rating to a “buy” rating and cut their price objective for the company from $152.00 to $140.00 in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada lowered their target price on shares of Westlake from $170.00 to $167.00 and set an “outperform” rating for the company in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $155.79.

Westlake Price Performance

Shares of NYSE WLK opened at $116.51 on Wednesday. Westlake Co. has a twelve month low of $108.56 and a twelve month high of $162.64. The firm has a market cap of $15.00 billion, a P/E ratio of 164.09, a PEG ratio of 2.45 and a beta of 1.17. The company has a 50 day moving average of $114.88 and a 200 day moving average of $130.13. The company has a quick ratio of 2.04, a current ratio of 2.79 and a debt-to-equity ratio of 0.41.

Insider Buying and Selling

In related news, Director David Tsung-Hung Chao sold 1,750 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $129.08, for a total value of $225,890.00. Following the completion of the transaction, the director now directly owns 7,784 shares in the company, valued at $1,004,758.72. The trade was a 18.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is owned by company insiders.

Westlake Profile

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.