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New Big Money Means Westlake Chemical Partners LP (WLKP) Investors Could Reap Benefit

Westlake Chemical Partners LP (NYSE: WLKP) is 2.08% higher on its value in year-to-date trading and has touched a low of $20.86 and a high of $23.68 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The WLKP stock was last observed hovering at around $22.00 in the last trading session, with the day’s gains setting it 0.1%.

Currently trading at $22.10, the stock is 0.62% and -0.34% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.06 million and changing 0.45% at the moment leaves the stock -0.24% off its SMA200. WLKP registered 2.46% gain for a year compared to 6-month gain of 1.80%.

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The stock witnessed a 0.41% loss in the last 1 month and extending the period to 3 months gives it a 0.73%, and is -1.60% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.03% over the week and 1.42% over the month.

Westlake Chemical Partners LP (WLKP) has around 152 employees, a market worth around $778.58M and $1.17B in sales. Current P/E ratio is 14.36 and Fwd P/E is 10.86. Profit margin for the company is 4.64%. Distance from 52-week low is 5.94% and -6.67% from its 52-week high. The company has generated returns on investments over the last 12 months (5.89%).

The EPS is expected to grow by 8.69% this year

The shares outstanding are 35.23M, and float is at 20.54M with Short Float at 0.50%.

Westlake Chemical Partners LP (WLKP) Insider Activity

The most recent transaction is an insider purchase by Kenner Andrew, the company’s SVP, Olefin Material & Corp Pr. SEC filings show that Kenner Andrew bought 5,000 shares of the company’s common stock on Mar 28 ’24 at a price of $22.23 per share for a total of $0.11 million. Following the purchase, the insider now owns 0.15 million shares.

Westlake Chemical Partners LP disclosed in a document filed with the SEC on Mar 21 ’24 that Kenner Andrew (SVP, Olefin Material & Corp Pr) bought a total of 4,230 shares of the company’s common stock. The trade occurred on Mar 21 ’24 and was made at $22.16 per share for $93737.0. Following the transaction, the insider now directly holds 0.15 million shares of the WLKP stock.

Still, SEC filings show that on Mar 06 ’24, Kenner Andrew (SVP, Olefin Material & Corp Pr) acquired 5,000 shares at an average price of $22.30 for $0.11 million. The insider now directly holds 141,609 shares of Westlake Chemical Partners LP (WLKP).

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