Westlake Chemical Corporation (NYSE:WLK) Can’t Be Less Risky. Short Interest Decreased

July 16, 2018 - By Matthew Richard

Westlake Chemical Corporation (NYSE:WLK) Logo

Investors sentiment decreased to 1.02 in 2018 Q1. Its down 0.31, from 1.33 in 2017Q4. It worsened, as 28 investors sold Westlake Chemical Corporation shares while 101 reduced holdings. 69 funds opened positions while 62 raised stakes. 36.22 million shares or 0.10% less from 36.26 million shares in 2017Q4 were reported.
Invesco Ltd reported 0.01% stake. Moreover, Glenmede Co Na has 0% invested in Westlake Chemical Corporation (NYSE:WLK) for 4,370 shares. Rhumbline Advisers has invested 0.01% in Westlake Chemical Corporation (NYSE:WLK). Zweig holds 2,300 shares or 0.02% of its portfolio. D E Shaw & stated it has 14,141 shares. Natixis reported 0.01% in Westlake Chemical Corporation (NYSE:WLK). Bradley Foster Sargent Ct owns 10,745 shares. Colony Grp Lc invested in 0.01% or 2,015 shares. First Personal Fincl holds 278 shares. Paradigm Capital Incorporated holds 22,400 shares or 0.21% of its portfolio. 646 are held by Stratos Wealth Prtnrs. Citigroup Inc has 0.02% invested in Westlake Chemical Corporation (NYSE:WLK) for 184,680 shares. 11,136 are owned by Jaffetilchin Investment Limited Liability Company. Piedmont Invest Ltd Limited Liability Company invested in 0.06% or 21,419 shares. Engineers Gate Manager Lp stated it has 0.09% of its portfolio in Westlake Chemical Corporation (NYSE:WLK).

Since February 22, 2018, it had 0 insider purchases, and 17 sales for $20.20 million activity. Shares for $221,270 were sold by Bender Mark Steven on Friday, February 23. On Thursday, May 24 Chao James sold $4.02M worth of Westlake Chemical Corporation (NYSE:WLK) or 33,305 shares. Shares for $482,139 were sold by Mangieri George J. Ederington L. Benjamin sold $773,665 worth of stock or 6,942 shares. The insider LUKENS MAX L sold $1.95 million. BLAKELY ROBERT T also sold $448,218 worth of Westlake Chemical Corporation (NYSE:WLK) shares.

The stock of Westlake Chemical Corporation (NYSE:WLK) registered a decrease of 9.73% in short interest. WLK’s total short interest was 3.82 million shares in July as published by FINRA. Its down 9.73% from 4.23M shares, reported previously. With 766,800 shares average volume, it will take short sellers 5 days to cover their WLK’s short positions. The short interest to Westlake Chemical Corporation’s float is 10.45%.

The stock decreased 2.36% or $2.55 during the last trading session, reaching $105.33. About 300,941 shares traded. Westlake Chemical Corporation (NYSE:WLK) has risen 89.73% since July 16, 2017 and is uptrending. It has outperformed by 77.16% the S&P500.

Westlake Chemical Corporation manufactures and markets basic chemicals, vinyls, polymers, and building products. The company has market cap of $13.65 billion. It operates through two divisions, Olefins and Vinyls. It has a 9.46 P/E ratio. The Olefins segment offers ethylene, polyethylene, styrene monomer, and various ethylene co-products, as well as sells propylene, crude butadiene, pyrolysis gasoline, and hydrogen.

Westlake Chemical Corporation (NYSE:WLK) Ratings Coverage

Among 13 analysts covering Westlake Chemical Corp (NYSE:WLK), 6 have Buy rating, 1 Sell and 6 Hold. Therefore 46% are positive. Westlake Chemical Corp had 20 analyst reports since January 17, 2018 according to SRatingsIntel. BMO Capital Markets initiated Westlake Chemical Corporation (NYSE:WLK) rating on Tuesday, March 27. BMO Capital Markets has “Hold” rating and $12500 target. The stock of Westlake Chemical Corporation (NYSE:WLK) has “Buy” rating given on Monday, June 4 by Alembic. The stock of Westlake Chemical Corporation (NYSE:WLK) earned “Buy” rating by Alembic on Monday, May 14. The rating was maintained by Susquehanna on Sunday, February 25 with “Buy”. The rating was maintained by RBC Capital Markets with “Buy” on Thursday, January 25. JP Morgan maintained Westlake Chemical Corporation (NYSE:WLK) on Friday, June 1 with “Neutral” rating. The firm earned “Neutral” rating on Wednesday, July 11 by Nomura. J.P. Morgan downgraded Westlake Chemical Corporation (NYSE:WLK) on Monday, April 9 to “Hold” rating. The rating was downgraded by RBC Capital Markets to “Hold” on Monday, June 11. The stock of Westlake Chemical Corporation (NYSE:WLK) earned “Neutral” rating by JP Morgan on Monday, April 9.

Another recent and important Westlake Chemical Corporation (NYSE:WLK) news was published by Benzinga.com which published an article titled: “Bernstein: Westlake ‘One Of The Best’ Plays On Chinese Pollution Crackdown” on June 21, 2018.

Westlake Chemical Corporation (NYSE:WLK) Institutional Positions Chart

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