Westlake Chemical Corporation (WLK) : Robotti Robert scooped up 196,175 additional shares in Westlake Chemical Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 271,880 shares of Westlake Chemical Corporation which is valued at $13,164,430.Westlake Chemical Corporation makes up approximately 4.47% of Robotti Robert’s portfolio.
Other Hedge Funds, Including , Alliancebernstein reduced its stake in WLK by selling 1,343,955 shares or 96.96% in the most recent quarter. The Hedge Fund company now holds 42,107 shares of WLK which is valued at $2,038,821.Credit Agricole S A reduced its stake in WLK by selling 10,584 shares or 95.3% in the most recent quarter. The Hedge Fund company now holds 522 shares of WLK which is valued at $25,275.Dimensional Fund Advisors Lp boosted its stake in WLK in the latest quarter, The investment management firm added 51,107 additional shares and now holds a total of 1,267,872 shares of Westlake Chemical Corporation which is valued at $60,832,499. Westlake Chemical Corporation makes up approx 0.03% of Dimensional Fund Advisors Lp’s portfolio.State Board Of Administration Of Florida Retirement System reduced its stake in WLK by selling 59 shares or 0.11% in the most recent quarter. The Hedge Fund company now holds 52,689 shares of WLK which is valued at $2,439,501. Westlake Chemical Corporation makes up approx 0.01% of State Board Of Administration Of Florida Retirement System’s portfolio.Acadian Asset Management reduced its stake in WLK by selling 4,432 shares or 97.43% in the most recent quarter. The Hedge Fund company now holds 117 shares of WLK which is valued at $5,441.
Westlake Chemical Corporation opened for trading at $51.77 and hit $53.63 on the upside on Tuesday, eventually ending the session at $51.98, with a gain of 2.65% or 1.34 points. The heightened volatility saw the trading volume jump to 15,86,140 shares. Company has a market cap of $6,694 M.
On the company’s financial health, Westlake Chemical Corporation reported $0.85 EPS for the quarter, missing the analyst consensus estimate by $ -0.11 based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus of $0.96. The company had revenue of $1086.06 million for the quarter, compared to analysts expectations of $1060.36 million. The company’s revenue was down -8.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.41 EPS.
Many Wall Street Analysts have commented on Westlake Chemical Corporation. Company shares were Upgraded by RBC Capital Mkts on Aug 23, 2016 to ” Outperform”, Firm has raised the Price Target to $ 59 from a previous price target of $47 .Company shares were Upgraded by SunTrust on Jun 15, 2016 to ” Buy”, Firm has raised the Price Target to $ 52 from a previous price target of $44 .Company shares were Reiterated by Cowen on Jun 13, 2016 to “Outperform”, Firm has raised the Price Target to $ 60 from a previous price target of $53 .
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.