Today it was reported that the President & CEO of Westlake Chemical (WLK), Albert Chao, exercised options to sell 55,148 WLK shares at $22.91 a share, for a total transaction value of $4.03M.
Following Albert Chao’s last WLK Sell transaction on February 27, 2020, the stock climbed by 22.6%. In addition to Albert Chao, 2 other WLK executives reported Sell trades in the last month.
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The company has a one-year high of $81.08 and a one-year low of $28.99. Currently, Westlake Chemical has an average volume of 712.03K. WLK’s market cap is $9.5 billion and the company has a P/E ratio of 31.90.
WLK is a controversial stock, with 3 analysts recommending Buy, while 3 recommends selling the stock. Based on 11 analyst ratings, the analyst consensus is Hold with an average price target of $69.30, reflecting a 8.3% upside. Three different firms, including Merrill Lynch and Scotiabank, currently also have a Sell rating on the stock.
The insider sentiment on Westlake Chemical has been negative according to 31 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.
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Westlake Chemical Corp. manufactures and markets petrochemicals, polymers and fabricated building products. It operates through the Olefins and Vinyls segments. The Olefins segment manufactures ethylene, polyethylene, styrene, and associated co-products at the manufacturing facility in Lake Charles and polyethylene at the Longview facility. The Vinyls segment manufactures and sells building products fabricated from polyvinyl chloride, including pipe, fittings, profiles, foundation, building products, fence and deck components, window, and door components, film, and sheet products. The company was founded by Ting Tsung Chao in 1986 and is headquartered in Houston, TX.
