Fintel reports that on October 4, 2023, Citigroup maintained coverage of Westlake (NYSE:WLK) with a Neutral recommendation.
Analyst Price Forecast Suggests 13.90% Upside
As of August 31, 2023, the average one-year price target for Westlake is 140.19. The forecasts range from a low of 109.08 to a high of $183.75. The average price target represents an increase of 13.90% from its latest reported closing price of 123.08.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Westlake is 14,173MM, an increase of 2.24%. The projected annual non-GAAP EPS is 11.40.
Westlake Declares $0.50 Dividend
On August 14, 2023 the company declared a regular quarterly dividend of $0.50 per share ($2.00 annualized). Shareholders of record as of August 25, 2023 received the payment on September 12, 2023. Previously, the company paid $0.36 per share.
At the current share price of $123.08 / share, the stock's dividend yield is 1.62%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.44%, the lowest has been 0.89%, and the highest has been 3.52%. The standard deviation of yields is 0.38 (n=235).
The current dividend yield is 0.49 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.19. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.85%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 786 funds or institutions reporting positions in Westlake. This is a decrease of 13 owner(s) or 1.63% in the last quarter. Average portfolio weight of all funds dedicated to WLK is 0.24%, an increase of 1.39%. Total shares owned by institutions decreased in the last three months by 3.43% to 43,786K shares. 
The put/call ratio of WLK is 0.68, indicating a bullish outlook.
What are Other Shareholders Doing?
Victory Capital Management holds 3,406K shares representing 2.67% ownership of the company. In it's prior filing, the firm reported owning 3,321K shares, representing an increase of 2.49%. The firm increased its portfolio allocation in WLK by 2.99% over the last quarter.
Orbis Allan Gray holds 2,915K shares representing 2.28% ownership of the company. In it's prior filing, the firm reported owning 2,062K shares, representing an increase of 29.27%. The firm increased its portfolio allocation in WLK by 101.65% over the last quarter.
VETAX - Victory Sycamore Established Value Fund holds 2,200K shares representing 1.72% ownership of the company. In it's prior filing, the firm reported owning 2,150K shares, representing an increase of 2.27%. The firm increased its portfolio allocation in WLK by 2.51% over the last quarter.
Pacer Advisors holds 1,161K shares representing 0.91% ownership of the company. In it's prior filing, the firm reported owning 1,187K shares, representing a decrease of 2.26%. The firm decreased its portfolio allocation in WLK by 5.08% over the last quarter.
COWZ - Pacer US Cash Cows 100 ETF holds 1,159K shares representing 0.91% ownership of the company. In it's prior filing, the firm reported owning 1,216K shares, representing a decrease of 4.92%. The firm increased its portfolio allocation in WLK by 6.17% over the last quarter.
Westlake Background Information
(This description is provided by the company.)
Westlake is an international manufacturer and supplier of petrochemicals, polymers and building products that enhance the daily lives of people around the world. Whether it’s plastic wrap that keeps meats and produce fresh; the intravenous bags and tubing used in medical care, the pipes that are essential to ensuring clean water, or the chlorine that treats water and helps keep pools safe, Westlake plays a vital role in supplying the building blocks for these products and many more.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
