The Chairman of Westlake Chemical Corp. (NYSE: WLK) is Selling Shares

By Carrie Williams

Today, the Chairman of Westlake Chemical Corp. (NYSE: WLK), James Chao, sold shares of WLK for $1.06M.

Following James Chao’s last WLK Sell transaction on February 18, 2016, the stock climbed by 10.8%. In addition to James Chao, 3 other WLK executives reported Sell trades in the last month.

The company has a one year high of $61.21 and a one year low of $39.48. WLK’s market cap is $7.04B and the company has a P/E ratio of 13.60. Currently, Westlake Chemical Corp. has an average volume of 898.6K.

Based on 6 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $57.60, reflecting a -5.6% downside.

The insider sentiment on Westlake Chemical Corp. has been negative according to 24 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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.