Insider Buys: Westlake Chemical Partners LP (NYSE:WLKP) SVP Buys $60,919.96 in Stock

VaselineAugust 17, 2024

0 3 minutes read

Westlake Chemical Partners LP (NYSE:WLKP – Get Your Free Report ) SVP Andrew Kenner bought 2,692 shares of the stock in a transaction on Monday, August 12th. The stock was bought at an average price of $22.63 per share, for a total transaction of $60,919.96. Following the completion of the transaction, the senior vice president now directly owns 185,000 shares of the company’s stock, valued at approximately $4,186,550. The acquisition was disclosed in a filing with the SEC, which can be accessed via this link.

Andrew Kenner also recently made the following trades:

On Friday, August 9th, Andrew Kenner acquired 12,000 shares of Westlake Chemical Partners stock. The shares were purchased at an average cost of $22.99 per share, with a total value of $275,880.00.
On Thursday, May 30th, Andrew Kenner bought 2,291 shares of Westlake Chemical Partners stock. The shares were acquired at an average cost of $22.23 per share, for a total transaction of $50,928.93.

Westlake Chemical Partners trading rose 0.8%

Shares of WLKP opened at $22.67 on Friday. Westlake Chemical Partners LP has a 1 year low of $20.91 and a 1 year high of $23.68. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.68, and a quick ratio of 5.09. The firm has a 50-day simple moving average of $22.78 and a 200-day simple moving average of $22.47. The stock has a market cap of $798.62 million, a price-to-earnings ratio of 14.72 and a beta of 1.12.

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Westlake Chemical Partners (NYSE:WLKP – Get Your Free Report ) last issued its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.03). The company had revenue of $284.17 million for the quarter, compared to analyst estimates of $270.28 million. Westlake Chemical Partners had a net margin of 4.78% and a return on equity of 6.68%. During the same period in the previous year, the business earned $0.34 EPS. equities analysts predict that Westlake Chemical Partners LP will post 1.75 EPS for the current fiscal year.

Westlake Chemical Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Monday, August 12th will be paid a dividend of $0.4714 per share. This represents a dividend of $1.89 on an annualized basis and a dividend yield of 8.32%. The ex-dividend date of this dividend is Monday, August 12. Westlake Chemical Partners’ dividend payout ratio is currently 122.08%.

Institutional investors weigh in on Westlake Chemical Partners

Several hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC acquired a new stake in shares of Westlake Chemical Partners in the fourth quarter valued at about $27,000. International Assets Investment Management LLC purchased a new position in shares of Westlake Chemical Partners in the second quarter valued at $33,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Westlake Chemical Partners in the first quarter valued at $78,000. Rothschild Investment LLC purchased a new stake in shares of Westlake Chemical Partners in the second quarter worth $181,000. Finally, Kovack Advisors Inc. purchased a new position in shares of Westlake Chemical Partners in the 4th quarter valued at $261,000. Institutional investors and hedge funds own 78.28% of the company’s shares.

The Wall Street analyst weighs in

Separately, Barclays upgraded shares of Westlake Chemical Partners to a “strong-buy” rating in a research report on Monday, August 12th.

Get the latest stock analysis on WLKP

Westlake Chemical Partners Company Profile

(Get a free report)

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 to ethylene. It also sells ethylene coproducts such as propylene, crude butadiene, pyrolysis gasoline and hydrogen directly to third parties, either on-site or on a contract basis.