Westlake Chemical Partners LP (NYSE:WLKP) Short Interest Update

Westlake Chemical Partners LP (NYSE:WLKP) was the target of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 140,100 shares, a growth of 20.8% from the January 15th total of 116,000 shares. Based on an average daily volume of 41,800 shares, the days-to-cover ratio is presently 3.4 days. Approximately 0.7% of the company’s stock are sold short.

Westlake Chemical Partners Stock Up 0.4 %

NYSE:WLKP traded up $0.09 on Monday, hitting $23.64. 99,281 shares of the company’s stock were exchanged, compared to its average volume of 29,747. The company has a market cap of $833.07 million, a P/E ratio of 13.51 and a beta of 1.09. The firm has a 50-day moving average price of $23.73 and a 200-day moving average price of $23.04. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.53 and a quick ratio of 4.46. Westlake Chemical Partners has a 52 week low of $21.19 and a 52 week high of $24.98.

Westlake Chemical Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th will be given a dividend of $0.4714 per share. This is a positive change from Westlake Chemical Partners’s previous quarterly dividend of $0.47. The ex-dividend date is Friday, February 7th. This represents a $1.89 annualized dividend and a dividend yield of 7.98%. Westlake Chemical Partners’s payout ratio is 108.00%.

Institutional Investors Weigh In On Westlake Chemical Partners

A number of institutional investors and hedge funds have recently made changes to their positions in WLKP. Wilmington Savings Fund Society FSB acquired a new stake in shares of Westlake Chemical Partners during the 3rd quarter worth about $36,000. Geneos Wealth Management Inc. lifted its position in Westlake Chemical Partners by 32.2% during the fourth quarter. Geneos Wealth Management Inc. now owns 3,337 shares of the basic materials company’s stock worth $77,000 after acquiring an additional 812 shares during the last quarter. GeoWealth Management LLC acquired a new position in shares of Westlake Chemical Partners in the fourth quarter valued at approximately $175,000. Allspring Global Investments Holdings LLC acquired a new stake in Westlake Chemical Partners during the 4th quarter worth approximately $211,000. Finally, Apollon Wealth Management LLC boosted its stake in Westlake Chemical Partners by 7.5% in the 3rd quarter. Apollon Wealth Management LLC now owns 14,909 shares of the basic materials company’s stock valued at $334,000 after purchasing an additional 1,041 shares during the period. Institutional investors own 78.28% of the company’s stock.

Westlake Chemical Partners Company Profile

Westlake Chemical Partners LP acquires, develops, and operates ethylene production facilities and related assets in the United States. The company’s ethylene production facilities primarily convert ethane into ethylene. It also sells ethylene co-products, such as propylene, crude butadiene, pyrolysis gasoline, and hydrogen directly to third parties on either a spot or contract basis.