Economy

Hot Stock of the Day - Westlake Chemical Partners LP (NYSE:WLKP)

In addition to ROA, there are a number of additional ratios and Quant signals available to investors in order to decipher if the shares are a good fit for their portfolio.

A number of hedge funds have recently added to or reduced their stakes in the stock. Ruggie Capital Group purchased a new position in shares of Westlake Chemical Corporation in the 1st quarter worth $117,000.

Westlake Chemical Partners is a limited partnership formed by Westlake Chemical Corporation to operate, acquire and develop ethylene production facilities and other qualified assets. Westlake Chemical Partners LP disclosed in a document filed with the US Securities and Exchange Commission (SEC) that Director Lumpkins David has acquired 2,500 shares of Westlake Chemical Partners LP (WLKP) in trading session dated March 09, 2017. Toronto Dominion Bank purchased a new stake in Westlake Chemical during the third quarter worth about $107,000. TIAA CREF Investment Management LLC now owns 1,570,608 shares of the specialty chemicals company's stock worth $103,990,000 after purchasing an additional 202,453 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its holdings in Westlake Chemical Corporation by 192.3% in the second quarter. The ratio is a comparison of the firm's net asset value per share to it's current price.

Westlake Chemical Corp (WLK) shares are moving today on volatility 0.51% or 0.42 from the open. Park West Asset Management Ltd Limited Liability Company accumulated 3.86M shares.

It is now trading at $21.98 which is a tad under $24.03, the stock's 50 day moving average and which is much lower than the 200 day moving average of $24.56. Moving averages are considered to be lagging indicators that simply take the average price of a stock over a specific period of time. The rating was maintained by RBC Capital Markets with "Buy" on Monday, July 10.

On Tuesday August 22, 2017, Cowen released a statement on Westlake Chemical (NYSE:WLK) upped the target price from $70.00 to $78.00 that suggested an upside of 0.10%.

Now, the FactSet Research estimate calls for Q3 2017 earnings of US$1.39. The firm earned $1.74 billion during the quarter, compared to analyst estimates of $1.78 billion.

Westlake Chemical Corporation is a global manufacturer and marketer of basic chemicals, vinyls, polymers and building products. The firm's revenue for the quarter was up 82.2% compared to the same quarter past year.

Analysts expect Covanta Holding Corp (NYSE:CVA) to report $0.08 EPS on October, 24.They anticipate $0.10 EPS change or 55.56% from last quarter's $0.18 EPS. BlackRock Inc. grew its stake in shares of Westlake Chemical Corporation by 14,246.4% during the first quarter. As per Monday, September 18, the company rating was maintained by RBC Capital Markets. Stockholders of record on Friday, September 1st were given a dividend of $0.21 per share. Bank & Trust Of Mellon has invested 0.01% of its portfolio in Westlake Chemical Partners LP (NYSE:WLKP). This represents a $0.76 dividend on an annualized basis and a yield of 1.13%. The stock has "Buy" rating by Canaccord Genuity on Wednesday, August 12. Presently, Westlake Chemical Corp (WLK) has a 14-day Commodity Channel Index (CCI) of 118.24.

In other news, VP Mark Steven Bender sold 13,794 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $70.22, for a total value of $968,614.68. Insiders own 72.50% of the company's stock. BancorpSouth Inc now owns 5,695 shares of the company's stock worth $305,000 after buying an additional 60 shares in the last quarter. Westlake Chemical had 33 analyst reports since July 24, 2015 according to SRatingsIntel. Also, there are 0 buy, 0 sell and 0 strong sell ratings, collectively assigning a 1 average brokerage recommendation. Nomura upgraded Westlake Chemical Corporation (NYSE:WLK) rating on Tuesday, September 26.

A total of 9 analysts have released a report on Westlake Chemical. zero analysts rating the company a strong buy, zero analysts rating the company a buy, zero analysts rating the company a hold, zero analysts rating the company a underperform, and finally zero analysts rating the company a sell with a 12-month price target of $54.22. The legal version of this piece can be viewed at https://www.dispatchtribunal.com/2017/09/27/westlake-chemical-corporation-wlk-upgraded-by-instinet-to-buy.html.



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