Westlake Chemical Partners (NYSE:WLKP – Get Rating) had its price objective lowered by Deutsche Bank Aktiengesellschaft from $28.00 to $27.00 in a research note issued to investors on Monday morning, The Fly reports.
Other analysts have also recently issued research reports about the stock. Barclays lowered their price objective on shares of Westlake Chemical Partners from $32.00 to $26.00 in a research report on Sunday, May 14th. StockNews.com cut shares of Westlake Chemical Partners from a strong-buy rating to a buy rating in a research report on Thursday, May 11th.
Westlake Chemical Partners Stock Performance
NYSE WLKP opened at $21.40 on Monday. The company’s 50 day simple moving average is $21.90 and its two-hundred day simple moving average is $22.78. The company has a debt-to-equity ratio of 0.45, a current ratio of 4.51 and a quick ratio of 4.41. The stock has a market capitalization of $753.71 million, a PE ratio of 11.96 and a beta of 1.00. Westlake Chemical Partners has a 1 year low of $18.58 and a 1 year high of $28.37.
Westlake Chemical Partners Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 26th. Investors of record on Friday, May 12th will be given a $0.471 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 8.80%. The ex-dividend date is Thursday, May 11th. Westlake Chemical Partners’s payout ratio is presently 105.59%.
Insider Buying and Selling
In other news, SVP Andrew Kenner purchased 5,000 shares of the business’s stock in a transaction on Monday, March 13th. The shares were acquired at an average price of $21.44 per share, with a total value of $107,200.00. Following the acquisition, the senior vice president now directly owns 65,000 shares in the company, valued at $1,393,600. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Institutional Investors Weigh In On Westlake Chemical Partners
A number of large investors have recently added to or reduced their stakes in the company. AE Wealth Management LLC bought a new stake in shares of Westlake Chemical Partners during the 4th quarter valued at about $344,000. UBS Group AG boosted its stake in shares of Westlake Chemical Partners by 49.6% during the 3rd quarter. UBS Group AG now owns 442,517 shares of the basic materials company’s stock valued at $9,515,000 after purchasing an additional 146,705 shares in the last quarter. Pinnacle Holdings LLC boosted its stake in shares of Westlake Chemical Partners by 1.5% during the 1st quarter. Pinnacle Holdings LLC now owns 35,836 shares of the basic materials company’s stock valued at $789,000 after purchasing an additional 537 shares in the last quarter. Verdad Advisers LP bought a new stake in shares of Westlake Chemical Partners during the 1st quarter valued at about $971,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Westlake Chemical Partners by 3.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 569,693 shares of the basic materials company’s stock valued at $12,539,000 after purchasing an additional 19,644 shares in the last quarter. Institutional investors own 31.10% of the company’s stock.
Westlake Chemical Partners Company Profile
Westlake Chemical Partners LP engages in the operation, acquisition and development of ethylene production facilities and related assets. It is also involved in the manufacture and marketing of basic chemicals, polymers, and fabricated building products. The company was founded on March 14, 2014 and is headquartered in Houston, TX.
- Get a free copy of the StockNews.com research report on Westlake Chemical Partners (WLKP)
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