Westlake Chemical Partners LP (NYSE:WLKP) SVP Andrew Kenner Acquires 5,000 Shares of Stock

Posted by on Mar 15th, 2023

Westlake Chemical Partners LP (NYSE:WLKP – Get Rating) SVP Andrew Kenner bought 5,000 shares of the firm’s stock in a transaction on Monday, March 13th. The stock was acquired at an average cost of $21.44 per share, with a total value of $107,200.00. Following the transaction, the senior vice president now owns 65,000 shares in the company, valued at approximately $1,393,600. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

  • On Friday, March 10th, Andrew Kenner bought 10,000 shares of Westlake Chemical Partners stock. The stock was acquired at an average cost of $22.02 per share, with a total value of $220,200.00.

Westlake Chemical Partners Price Performance

NYSE WLKP opened at $21.61 on Wednesday. Westlake Chemical Partners LP has a 52 week low of $18.58 and a 52 week high of $29.40. The firm has a market capitalization of $761.10 million, a P/E ratio of 11.81, a PEG ratio of 1.49 and a beta of 1.01. The company has a quick ratio of 3.60, a current ratio of 3.67 and a debt-to-equity ratio of 0.44. The company has a 50-day moving average price of $23.92 and a 200-day moving average price of $23.15.

Westlake Chemical Partners (NYSE:WLKP – Get Rating) last released its quarterly earnings results on Tuesday, February 21st. The basic materials company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.44 by $0.04. Westlake Chemical Partners had a net margin of 4.03% and a return on equity of 6.75%. The firm had revenue of $366.84 million during the quarter. During the same period in the previous year, the company earned $0.84 EPS. Equities research analysts anticipate that Westlake Chemical Partners LP will post 1.83 earnings per share for the current year.

Westlake Chemical Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 16th. Investors of record on Thursday, February 2nd were issued a $0.471 dividend. This represents a $1.88 annualized dividend and a yield of 8.72%. The ex-dividend date was Wednesday, February 1st. Westlake Chemical Partners’s dividend payout ratio is 103.28%.

Institutional Investors Weigh In On Westlake Chemical Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WLKP. Raymond James & Associates increased its holdings in Westlake Chemical Partners by 219.1% in the 1st quarter. Raymond James & Associates now owns 38,435 shares of the basic materials company’s stock worth $1,041,000 after acquiring an additional 26,389 shares in the last quarter. Private Advisor Group LLC purchased a new stake in Westlake Chemical Partners during the 1st quarter valued at approximately $252,000. Mariner LLC purchased a new stake in Westlake Chemical Partners during the 1st quarter valued at approximately $438,000. UBS Group AG grew its holdings in Westlake Chemical Partners by 0.3% during the 1st quarter. UBS Group AG now owns 263,019 shares of the basic materials company’s stock valued at $7,123,000 after buying an additional 773 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in Westlake Chemical Partners by 14.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 9,965 shares of the basic materials company’s stock valued at $269,000 after buying an additional 1,257 shares in the last quarter. 31.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft decreased their target price on Westlake Chemical Partners from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Friday, November 18th.

Westlake Chemical Partners Company Profile

(Get Rating)

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.

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