Westlake Chemical Partners LP (NYSE:WLKP) SVP Andrew Kenner Purchases 2,692 Shares

Westlake Chemical Partners LP (NYSE:WLKP) SVP Andrew Kenner purchased 2,692 shares of Westlake Chemical Partners stock in a transaction on Monday, August 12th. The shares were acquired at an average price of $22.63 per share, with a total value of $60,919.96. Following the transaction, the senior vice president now directly owns 185,000 shares in the company, valued at approximately $4,186,550. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Andrew Kenner also recently made the following trade(s):

• On Friday, August 9th, Andrew Kenner acquired 12,000 shares of Westlake Chemical Partners stock. The stock was bought 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 bought at an average cost of $22.23 per share, for a total transaction of $50,928.93.

Westlake Chemical Partners Price Performance

NYSE WLKP traded up $0.01 on Wednesday, reaching $22.47. 5,907 shares of the stock traded hands, compared to its average volume of 54,601. Westlake Chemical Partners LP has a 12 month low of $20.91 and a 12 month high of $23.68. The company has a market cap of $791.62 million, a price-to-earnings ratio of 14.62 and a beta of 1.12. The firm’s fifty day simple moving average is $22.79 and its 200 day simple moving average is $22.48. The company has a quick ratio of 5.09, a current ratio of 5.21 and a debt-to-equity ratio of 0.47.

Westlake Chemical Partners (NYSE:WLKP) last announced its 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 net margin of 4.78% and a return on equity of 6.64%. The firm had revenue of $284.17 million for the quarter, compared to the consensus estimate of $270.28 million. During the same period in the prior year, the business earned $0.34 EPS. As a group, research 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 announced a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Monday, August 12th will be issued a dividend of $0.4714 per share. This represents a $1.89 dividend on an annualized basis and a yield of 8.39%. The ex-dividend date of this dividend is Monday, August 12th. Westlake Chemical Partners’s payout ratio is 122.73%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Westlake Chemical Partners

A number of institutional investors and hedge funds have recently modified their holdings of WLKP. Rothschild Investment LLC acquired a new position in shares of Westlake Chemical Partners in the 2nd quarter valued at $181,000. International Assets Investment Management LLC purchased a new stake in shares of Westlake Chemical Partners in the 2nd quarter valued at approximately $33,000. Pathway Financial Advisers LLC acquired a new stake in Westlake Chemical Partners during the 1st quarter valued at $2,169,000. GSA Capital Partners LLP lifted its holdings in shares of Westlake Chemical Partners by 10.7% in the first quarter. GSA Capital Partners LLP now owns 38,427 shares of the basic materials company’s stock valued at $853,000 after purchasing an additional 3,713 shares in the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Westlake Chemical Partners in the first quarter valued at $78,000. Institutional investors and hedge funds own 78.28% of the company’s stock.

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.