If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Vetr’s target price suggests a potential upside of 4.87% from the stock’s current price. The short interest to Westlake Chemical Corporation’s float is 11.39%. Viking Fund Management Llc owns 195,000 shares or 1.73% of their U.S. portfolio. 40 funds bought stakes while 102 increased positions. M&T Bank Corp now owns 6,178 shares of the company’s stock valued at $286,000 after buying an additional 576 shares in the last quarter. Finally, Allianz Asset Management AG raised its stake in Westlake Chemical Corp.by 14.4% in the fourth quarter. Pacad Investment Ltd. now owns 10,500 shares of the company’s stock valued at $486,000 after buying an additional 600 shares in the last quarter. During the same quarter a year ago, the company posted $1.41 earnings per share. The company had revenue of $1086.06 million for the quarter, compared to analysts expectations of $1060.36 million. WLK Sr VP, Polyethylene Taylor Jeffrey L also sold 8,143 shares, at a stock price of $70.57.
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On 6/13/2016, Cowen reported on Westlake Chemical Corporation (NYSE:WLK) upped the target price from $53.00 to $60.00.
Analyst Arun Viswanathan raised his price target on shares of the Houston-based chemicals manufacturer to US$59 from US$47, telling clients that Westlake’s management should be able to take full advantage of synergies the deal presents. Zacks Investment Research raised shares of Westlake Chemical Corp. from a “sell” rating to a “hold” rating in a report on Saturday, June 4th. According to a research note published on Aug 10, 2015, analysts at Goldman have lowered their rating on the company stock from Neutral to Sell. Westlake Chemical Corp. has an average rating of “Buy” and an average price target of $58.25. The ratio turned negative, as 39 funds sold all Westlake Chemical Corporation shares owned while 69 reduced positions. About 1.59 million shares traded hands or 66.32% up from the average. The firm has a market capitalization of $6.52 billion and a P/E ratio of 12.63.
Westlake Chemical Corporation (NYSE:WLK) has a 50 day moving average of 46.14 and a 200 day moving average of 45.58.
The stock of Westlake Chemical Corporation (NYSE:WLK) registered a decrease of 17.35% in short interest.
A total of 9 brokerages have released a report on the company. During the same quarter in the prior year, the company earned $1.41 EPS. Looking forward, analysts on average predict that earnings for the current quarter would come in between $0.80 and $1.25. The business’s revenue for the quarter was down 8.3% compared to the same quarter past year. CHAO ALBERT is one of the largest insider shareholders in Westlake Chemical Corporation (NYSE:WLK), according to U.S. Securities and Exchange Commission (SEC) filings.
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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 20th. Investors of record on Friday, September 2nd will be given a dividend of $0.1906 per share.
