Shares of Westlake Chemical Corporation (NYSE:WLK) Sees Large Outflow of Money

Westlake Chemical Corporation (NYSE:WLK) : Net money flow in Westlake Chemical Corporation (NYSE:WLK) was negative ($4.35 million) and the inflow of money on uptick was $7.7 million, whereas, the outflow of money on downticks amounted to $12.04 million on Wednesday. The traders used every opportunity of price strength in the stock to sell their positions, hence, the total uptick to downtick ratio was 0.64. The block trades show that the large investors, were aggressive sellers in the stock. The total value of block trades on upticks was only $0.48 million. On the other hand, the total value of block trades done on downticks was $4.79 million. The ratio of uptick to downtick block trades was 0.1. The money flow in block trades was negative ($4.31). Westlake Chemical Corporation (NYSE:WLK) gained $1.6 cent during the day and reached $42.11, a gain of 3.95% over the previous day.


In an insider trading activity, Mangieri George J, officer (VP & Chief Accounting Officer) of Westlake Chemical Corp, unloaded 2,785 shares at an average price of $60.2 on November 10, 2015. The total amount of the transaction was worth $167,657, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing. Currently the company Insiders own 71.7% of Westlake Chemical Corporation shares according to the proxy statements. Institutional Investors own 29.61% of Westlake Chemical Corporation shares.

The company shares have dropped -39.26% from its 1 Year high price. On Jul 1, 2015, the shares registered one year high at $69.17 and the one year low was seen on Jun 28, 2016. The 50-Day Moving Average price is $44.15 and the 200 Day Moving Average price is recorded at $46.43. Westlake Chemical Corporation (NYSE:WLK): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $41.35 and $40.59 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $42.20. The buying momentum continued till the end and the stock did not give up its gains. It closed at $42.09, notching a gain of 3.90% for the day. The total traded volume was 1,296,965 . The stock had closed at $40.51 on the previous day.

Westlake Chemical Corporation is a vertically integrated manufacturer and marketer of basic chemicals, vinyls, polymers and fabricated building products. The Companys products include a range of chemicals used in the world, which are fundamental to many diverse consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, residential and commercial construction, as well as other durable and non-durable goods. The Company operates in two principal operating segments, Olefins and Vinyls. The Company is an integrated producer of vinyls with substantial downstream integration into polyvinyl chloride (PVC) building products. The Olefins segment manufactures a range of petrochemical products. The Vinyls segment primarily offers PVC, vinyl chloride monomer (VCM), ethylene dichloride (EDC), chlorine, caustic soda and, through Westlake Chemical OpCo LP, ethylene.

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