Pathway Financial Advisers LLC Acquires 2,132,523 Shares of Westlake Chemical Partners LP (NYSE:WLKP)

Pathway Financial Advisers LLC grew its holdings in Westlake Chemical Partners LP (NYSE:WLKP) by 2,178.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,230,436 shares of the basic materials company’s stock after buying an additional 2,132,523 shares during the quarter. Pathway Financial Advisers LLC owned 0.06% of Westlake Chemical Partners worth $49,984,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WLKP. GSA Capital Partners LLP boosted its stake in Westlake Chemical Partners by 10.7% in the 1st quarter. GSA Capital Partners LLP now owns 38,427 shares of the basic materials company’s stock valued at $853,000 after buying an additional 3,713 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Westlake Chemical Partners by 2,141.0% during the third quarter. International Assets Investment Management LLC now owns 32,763 shares of the basic materials company’s stock valued at $734,000 after acquiring an additional 31,301 shares during the period. Rothschild Investment LLC bought a new stake in shares of Westlake Chemical Partners in the 2nd quarter worth about $181,000. Finally, Future Financial Wealth Managment LLC bought a new position in Westlake Chemical Partners during the 3rd quarter valued at about $78,000. 78.28% of the stock is owned by institutional investors.

Westlake Chemical Partners Price Performance

Westlake Chemical Partners stock traded down $0.02 on Friday, reaching $22.46. The company’s stock had a trading volume of 14,248 shares, compared to its average volume of 46,303. The business’s fifty day moving average price is $22.45 and its 200 day moving average price is $22.50. The company has a debt-to-equity ratio of 0.48, a quick ratio of 4.59 and a current ratio of 4.68. The company has a market cap of $791.22 million, a price-to-earnings ratio of 14.58 and a beta of 1.10. Westlake Chemical Partners LP has a twelve month low of $20.99 and a twelve month high of $23.68.

Westlake Chemical Partners (NYSE:WLKP) last issued its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.03). Westlake Chemical Partners had a return on equity of 6.68% and a net margin of 4.78%. The company had revenue of $284.17 million for the quarter, compared to the consensus estimate of $270.28 million. During the same period in the prior year, the company earned $0.34 EPS. Equities analysts expect that Westlake Chemical Partners LP will post 1.55 earnings per share for the current fiscal year.

Westlake Chemical Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Monday, August 12th were given a dividend of $0.4714 per share. The ex-dividend date was Monday, August 12th. This represents a $1.89 dividend on an annualized basis and a dividend yield of 8.40%. Westlake Chemical Partners’s payout ratio is currently 122.08%.

Insider Activity

In other Westlake Chemical Partners news, SVP Andrew Kenner purchased 12,000 shares of the stock in a transaction dated Friday, August 9th. The stock was bought at an average price of $22.99 per share, for a total transaction of $275,880.00. Following the transaction, the senior vice president now directly owns 182,308 shares in the company, valued at $4,191,260.92. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have bought 16,119 shares of company stock valued at $369,340 over the last 90 days. 1.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, Barclays raised shares of Westlake Chemical Partners to a “strong-buy” rating in a report on Monday, August 12th.

About Westlake Chemical Partners

Westlake Chemical Partners LP acquires, develops, and operates ethylene production facilities and related assets in the United States. The company’s ethylene production facilities primarily convert ethane into ethylene. It also sells ethylene co-products, such as propylene, crude butadiene, pyrolysis gasoline, and hydrogen directly to third parties on either a spot or contract basis.