Pathway Financial Advisers LLC Sells 2,128,656 Shares of Westlake Chemical Partners LP (NYSE:WLKP)

Pathway Financial Advisers LLC decreased its holdings in Westlake Chemical Partners LP (NYSE:WLKP) by 95.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 101,780 shares of the basic materials company’s stock after selling 2,128,656 shares during the quarter. Pathway Financial Advisers LLC owned approximately 0.29% of Westlake Chemical Partners worth $2,355,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of WLKP. Wilmington Savings Fund Society FSB bought a new stake in shares of Westlake Chemical Partners during the third quarter valued at approximately $36,000. Geneos Wealth Management Inc. boosted its position in Westlake Chemical Partners by 32.2% in the 4th quarter. Geneos Wealth Management Inc. now owns 3,337 shares of the basic materials company’s stock valued at $77,000 after buying an additional 812 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Westlake Chemical Partners in the 4th quarter valued at $211,000. Apollon Wealth Management LLC raised its position in shares of Westlake Chemical Partners by 7.5% during the third quarter. Apollon Wealth Management LLC now owns 14,909 shares of the basic materials company’s stock worth $334,000 after acquiring an additional 1,041 shares during the last quarter. Finally, Hilltop Holdings Inc. lifted its stake in shares of Westlake Chemical Partners by 2.7% during the third quarter. Hilltop Holdings Inc. now owns 27,216 shares of the basic materials company’s stock valued at $610,000 after acquiring an additional 711 shares during the period. Institutional investors and hedge funds own 78.28% of the company’s stock.

Westlake Chemical Partners Price Performance

Westlake Chemical Partners stock opened at $23.49 on Thursday. The stock has a market cap of $827.79 million, a price-to-earnings ratio of 13.42 and a beta of 1.09. Westlake Chemical Partners LP has a 12-month low of $21.19 and a 12-month high of $24.98. The company has a quick ratio of 4.46, a current ratio of 4.53 and a debt-to-equity ratio of 0.48. The business’s 50-day simple moving average is $23.75 and its 200 day simple moving average is $23.03.

Westlake Chemical Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th will be paid a $0.4714 dividend. The ex-dividend date of this dividend is Friday, February 7th. This is a boost from Westlake Chemical Partners’s previous quarterly dividend of $0.47. This represents a $1.89 dividend on an annualized basis and a yield of 8.03%. Westlake Chemical Partners’s dividend payout ratio (DPR) is presently 108.00%.

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.