Westlake Chemical Partners LP (NYSE:WLKP) CEO Jean-Marc Gilson Purchases 500 Shares

Westlake Chemical Partners LP (NYSE:WLKP) CEO Jean-Marc Gilson acquired 500 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were purchased at an average cost of $22.94 per share, for a total transaction of $11,470.00. Following the completion of the transaction, the chief executive officer now owns 2,927 shares in the company, valued at approximately $67,145.38. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Jean-Marc Gilson also recently made the following trade(s):

• On Monday, August 26th, Jean-Marc Gilson purchased 500 shares of Westlake Chemical Partners stock. The shares were acquired at an average cost of $22.84 per share, for a total transaction of $11,420.00.
• On Thursday, August 22nd, Jean-Marc Gilson bought 427 shares of Westlake Chemical Partners stock. The stock was bought at an average price of $22.60 per share, for a total transaction of $9,650.20.

Westlake Chemical Partners Stock Performance

Westlake Chemical Partners stock traded up $0.08 during midday trading on Thursday, hitting $22.80. The stock had a trading volume of 600 shares, compared to its average volume of 52,578. The company has a current ratio of 4.68, a quick ratio of 4.59 and a debt-to-equity ratio of 0.48. Westlake Chemical Partners LP has a 52-week low of $20.91 and a 52-week high of $23.68. The firm’s fifty day moving average is $22.83 and its two-hundred day moving average is $22.48. The company has a market capitalization of $803.24 million, a PE ratio of 14.78 and a beta of 1.12.

Westlake Chemical Partners (NYSE:WLKP) last announced its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.03). Westlake Chemical Partners had a return on equity of 6.68% and a net margin of 4.78%. The business had revenue of $284.17 million during the quarter, compared to the consensus estimate of $270.28 million. During the same quarter in the prior year, the firm posted $0.34 EPS. On average, research analysts forecast that Westlake Chemical Partners LP will post 1.75 EPS for the current year.

Westlake Chemical Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 12th were paid a dividend of $0.4714 per share. This represents a $1.89 dividend on an annualized basis and a dividend yield of 8.27%. The ex-dividend date was Monday, August 12th. Westlake Chemical Partners’s dividend payout ratio is currently 122.73%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Westlake Chemical Partners

Several large investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC lifted its stake in shares of Westlake Chemical Partners by 2,065.0% during the 4th quarter. International Assets Investment Management LLC now owns 31,652 shares of the basic materials company’s stock worth $685,000 after purchasing an additional 30,190 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc lifted its position in Westlake Chemical Partners by 25.0% during the fourth quarter. Texas Capital Bank Wealth Management Services Inc now owns 25,000 shares of the basic materials company’s stock valued at $541,000 after acquiring an additional 5,000 shares during the last quarter. Apollon Wealth Management LLC boosted its stake in Westlake Chemical Partners by 14.0% in the fourth quarter. Apollon Wealth Management LLC now owns 12,294 shares of the basic materials company’s stock valued at $266,000 after acquiring an additional 1,513 shares in the last quarter. Kovack Advisors Inc. purchased a new position in Westlake Chemical Partners in the fourth quarter worth $261,000. Finally, GSA Capital Partners LLP increased its position in shares of Westlake Chemical Partners by 10.7% during the first quarter. GSA Capital Partners LLP now owns 38,427 shares of the basic materials company’s stock worth $853,000 after purchasing an additional 3,713 shares in the last quarter. 78.28% of the stock is owned by hedge funds and other institutional investors.

About Westlake Chemical Partners

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