In a recent transaction on March 15, Robert F. Buesinger, the Executive Vice President of HIP, IT & Digital at Westlake Corp (NYSE:WLK), sold 3,878 shares of the company's common stock, resulting in a total sale value of approximately $560,371. The shares were sold at a price of $144.50 each.
As a result of the transaction, Buesinger's direct ownership in Westlake Corp has decreased, but he still maintains a substantial stake of 21,144 shares following the sale. The transaction was disclosed in a filing with the Securities and Exchange Commission dated March 18.
Investors often monitor insider sales as they can provide insights into an executive's perspective on the company's current valuation or future prospects. However, such transactions can occur for a variety of reasons and may not necessarily be indicative of a negative outlook.
Westlake Corp, with its headquarters in Houston, Texas, operates in the industrial organic chemicals industry and is known for its range of products and services in the sector. The company's stock trades under the ticker symbol WLK on the New York Stock Exchange.
The details of the transaction are publicly available in the latest SEC filings, which can be accessed by investors for further analysis and context.
InvestingPro Insights
As Westlake Corp (NYSE:WLK) continues to navigate the industrial organic chemicals market, a deeper look at the company's financial health and stock performance through InvestingPro data can provide investors with additional context following the recent insider transaction. Westlake's market capitalization stands at a robust $18.62 billion, reflecting investor confidence in the company's scale and market presence.
The company's P/E ratio, a key indicator of investor expectations of future earnings, has adjusted to 22.91 based on the last twelve months as of Q4 2023. This suggests a more favorable valuation compared to the unadjusted P/E ratio of 39.09. Additionally, the Price to Book value is currently at 1.82, which may appeal to value investors looking for assets that could be undervalued.
InvestingPro Tips indicate that while Westlake's revenue growth has seen a decline of 20.55% over the last twelve months as of Q4 2023, the company has managed to maintain a Gross Profit Margin of 17.68% during the same period. This could signal effective cost management despite revenue headwinds. Moreover, with a dividend yield of 1.36% and a significant dividend growth of 40.06%, Westlake appears committed to returning value to shareholders.
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It's important to note that Westlake's stock has shown resilience with a 1 Year Price Total Return of 42.47%, closely approaching its 52-week high at 99.31% of the peak price. As investors look ahead, they may also want to mark the next earnings date on May 2, 2024, for updated company performance metrics.
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