Westlake Chemical Partners LP (NYSE:WLKP) SVP Andrew Kenner Buys 4,230 Shares

Westlake Chemical Partners LP (NYSE:WLKP) SVP Andrew Kenner bought 4,230 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were purchased at an average price of $22.16 per share, for a total transaction of $93,736.80. Following the completion of the transaction, the senior vice president now owns 145,839 shares of the company’s stock, valued at approximately $3,231,792.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Andrew Kenner also recently made the following trade(s):

• On Wednesday, March 6th, Andrew Kenner bought 5,000 shares of Westlake Chemical Partners stock. The shares were purchased at an average price of $22.30 per share, for a total transaction of $111,500.00.
• On Thursday, February 22nd, Andrew Kenner acquired 10,000 shares of Westlake Chemical Partners stock. The stock was bought at an average price of $22.12 per share, for a total transaction of $221,200.00.

Westlake Chemical Partners Stock Up 0.2 %

Shares of NYSE:WLKP opened at $22.20 on Thursday. The company has a quick ratio of 3.94, a current ratio of 4.02 and a debt-to-equity ratio of 0.47. Westlake Chemical Partners LP has a 52-week low of $20.86 and a 52-week high of $23.68. The stock’s fifty day simple moving average is $22.52 and its 200-day simple moving average is $22.08. The company has a market capitalization of $782.11 million, a P/E ratio of 14.42 and a beta of 1.08.

Westlake Chemical Partners (NYSE:WLKP) last released its earnings results on Tuesday, February 20th. The basic materials company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.04). The business had revenue of $297.27 million during the quarter, compared to analyst estimates of $316.62 million. Westlake Chemical Partners had a net margin of 4.56% and a return on equity of 6.25%. During the same quarter in the previous year, the company posted $0.48 earnings per share. As a group, equities research analysts forecast that Westlake Chemical Partners LP will post 1.7 earnings per share for the current fiscal year.

Westlake Chemical Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Friday, February 2nd were paid a $0.4714 dividend. The ex-dividend date was Thursday, February 1st. This represents a $1.89 annualized dividend and a yield of 8.49%. Westlake Chemical Partners’s payout ratio is currently 122.73%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Westlake Chemical Partners from a “buy” rating to a “strong-buy” rating in a research report on Tuesday.

Hedge Funds Weigh In On Westlake Chemical Partners

Institutional investors have recently added to or reduced their stakes in the business. UBS Group AG increased its stake in Westlake Chemical Partners by 9.3% in the third quarter. UBS Group AG now owns 537,225 shares of the basic materials company’s stock valued at $11,685,000 after purchasing an additional 45,515 shares during the last quarter. Delphi Management Inc. MA acquired a new position in Westlake Chemical Partners in the second quarter valued at $910,000. BNP Paribas Arbitrage SNC increased its stake in Westlake Chemical Partners by 150.7% in the second quarter. BNP Paribas Arbitrage SNC now owns 89,098 shares of the basic materials company’s stock valued at $1,933,000 after purchasing an additional 53,553 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Westlake Chemical Partners by 4.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 595,137 shares of the basic materials company’s stock valued at $12,944,000 after purchasing an additional 25,123 shares during the last quarter. Finally, Eagle Global Advisors LLC increased its stake in Westlake Chemical Partners by 3.5% during the third quarter. Eagle Global Advisors LLC now owns 43,873 shares of the basic materials company’s stock worth $954,000 after acquiring an additional 1,500 shares during the last quarter. 78.28% of the stock is currently owned by institutional investors and hedge funds.

Westlake Chemical Partners Company Profile

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.