Westlake (NYSE:WLK – Get Free Report) issued its quarterly earnings results on Wednesday. The specialty chemicals company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.25, Briefing.com reports. The firm had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.93 billion. Westlake had a return on equity of 9.70% and a net margin of 3.82%. The company’s revenue for the quarter was down 11.4% on a year-over-year basis. During the same quarter last year, the company posted $3.05 EPS.
Westlake Price Performance
Westlake stock traded up $0.30 during midday trading on Thursday, reaching $149.48. 186,697 shares of the stock traded hands, compared to its average volume of 396,050. The stock’s fifty day moving average is $147.98 and its 200-day moving average is $137.81. Westlake has a 12 month low of $103.28 and a 12 month high of $162.64. The stock has a market cap of $19.16 billion, a P/E ratio of 40.32, a PEG ratio of 1.47 and a beta of 1.30. The company has a quick ratio of 1.79, a current ratio of 2.37 and a debt-to-equity ratio of 0.43.
Westlake Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Wednesday, February 28th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend was Tuesday, February 27th. Westlake’s payout ratio is presently 54.05%.
Wall Street Analysts Forecast Growth
Read Our Latest Stock Report on WLK
Insider Activity at Westlake
In other news, CFO Mark Steven Bender sold 4,854 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $137.57, for a total transaction of $667,764.78. Following the transaction, the chief financial officer now owns 50,110 shares of the company’s stock, valued at approximately $6,893,632.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Mark Steven Bender sold 4,854 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $137.57, for a total transaction of $667,764.78. Following the completion of the transaction, the chief financial officer now owns 50,110 shares in the company, valued at approximately $6,893,632.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Robert F. Buesinger sold 3,878 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $144.50, for a total value of $560,371.00. Following the sale, the executive vice president now owns 21,144 shares of the company’s stock, valued at $3,055,308. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,658 shares of company stock valued at $1,923,225. Insiders own 74.10% of the company’s stock.
About Westlake
Westlake Corporation engages in the manufacture and marketing of performance and essential materials, and housing and infrastructure products in the United States, Canada, Germany, China, Mexico, Brazil, France, Italy, Taiwan, and internationally. The company operates through two segments: Performance and Essential Materials and Housing and Infrastructure Products.
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