Westlake Chemical Corporation (WLK) Earns Media Sentiment Score of 0.15

News headlines about Westlake Chemical Corporation (NYSE:WLK) have been trending somewhat positive recently, according to Accern Sentiment. The research group rates the sentiment of media coverage by reviewing more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Westlake Chemical Corporation earned a news sentiment score of 0.15 on Accern’s scale. Accern also assigned news stories about the specialty chemicals company an impact score of 46.9494896757178 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.

Here are some of the media headlines that may have impacted Accern’s rankings:

A number of equities research analysts have recently issued reports on WLK shares. Royal Bank Of Canada reissued a “buy” rating on shares of Westlake Chemical Corporation in a research note on Wednesday, September 6th. Zacks Investment Research downgraded shares of Westlake Chemical Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Cowen and Company reissued a “buy” rating and issued a $70.00 price target on shares of Westlake Chemical Corporation in a research note on Friday, July 14th. BidaskClub raised shares of Westlake Chemical Corporation from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 13th. Finally, SunTrust Banks, Inc. reissued a “buy” rating and issued a $86.00 price target on shares of Westlake Chemical Corporation in a research note on Wednesday, September 6th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Westlake Chemical Corporation has an average rating of “Buy” and a consensus target price of $68.56.

Westlake Chemical Corporation (NYSE WLK) traded up 2.54% during midday trading on Tuesday, hitting $79.42. 1,135,691 shares of the stock were exchanged. The stock has a market cap of $10.25 billion, a price-to-earnings ratio of 22.70 and a beta of 1.62. Westlake Chemical Corporation has a 12-month low of $48.13 and a 12-month high of $79.70. The firm has a 50 day moving average of $72.33 and a 200-day moving average of $66.59.

Westlake Chemical Corporation (NYSE:WLK) last released its earnings results on Thursday, August 3rd. The specialty chemicals company reported $1.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.02. Westlake Chemical Corporation had a net margin of 6.57% and a return on equity of 13.68%. The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $2 billion. During the same period last year, the company earned $0.85 earnings per share. The company’s quarterly revenue was up 82.2% on a year-over-year basis. On average, equities analysts expect that Westlake Chemical Corporation will post $4.68 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Investors of record on Friday, September 1st will be given a $0.21 dividend. The ex-dividend date is Wednesday, August 30th. This is a boost from Westlake Chemical Corporation’s previous quarterly dividend of $0.19. This represents a $0.84 annualized dividend and a dividend yield of 1.06%. Westlake Chemical Corporation’s dividend payout ratio (DPR) is currently 24.00%.

In related news, VP Mark Steven Bender sold 13,794 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $70.22, for a total value of $968,614.68. Following the transaction, the vice president now owns 44,449 shares in the company, valued at $3,121,208.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 72.50% of the company’s stock.

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About Westlake Chemical Corporation

Westlake Chemical Corporation is a global manufacturer and marketer of basic chemicals, vinyls, polymers and building products. The Company’s products include a range of chemicals, which are fundamental to various consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, water treatment, refrigerants, residential and commercial construction, as well as other durable and non-durable goods.

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