Soroban Capital Partners LP Cut By $70.68 Million Its Westlake Chem (WLK) Stake; Numerex Has 0.53 Sentiment

January 14, 2018 - By Darrin Black

Soroban Capital Partners Lp decreased Westlake Chem Corp (WLK) stake by 37.85% reported in 2017Q3 SEC filing. Soroban Capital Partners Lp sold 851,569 shares as Westlake Chem Corp (WLK)’s stock rose 1.98%. The Soroban Capital Partners Lp holds 1.40M shares with $116.20M value, down from 2.25M last quarter. Westlake Chem Corp now has $14.71 billion valuation. The stock increased 0.61% or $0.69 during the last trading session, reaching $113.94. About 328,391 shares traded. Westlake Chemical Corporation (NYSE:WLK) has risen 45.05% since January 14, 2017 and is uptrending. It has outperformed by 28.35% the S&P500.

Numerex Corp. provides managed enterprise solutions enabling the Internet of Things primarily in the United States. The company has market cap of $75.37 million. The firm offers a portfolio of managed end-to-end IoT solutions, including smart devices, network connectivity, and service applications that address the needs of various vertical markets and industrial customers. It currently has negative earnings. It offers its technology and services through its integrated platforms, which are sold on a subscription basis.

Since August 15, 2017, it had 0 insider purchases, and 1 sale for $968,620 activity. Another trade for 13,794 shares valued at $968,620 was made by Bender Mark Steven on Tuesday, August 15.

Investors sentiment increased to 1.38 in 2017 Q3. Its up 0.23, from 1.15 in 2017Q2. It increased, as 21 investors sold WLK shares while 61 reduced holdings. 55 funds opened positions while 58 raised stakes. 37.12 million shares or 5.60% less from 39.33 million shares in 2017Q2 were reported. Principal Fincl Incorporated owns 0% invested in Westlake Chemical Corporation (NYSE:WLK) for 5,724 shares. New York-based Soroban Ptnrs Lp has invested 0.44% in Westlake Chemical Corporation (NYSE:WLK). Systematic Financial Management LP reported 0.03% stake. Ftb Advsr Inc holds 427 shares or 0% of its portfolio. Gsa Prtnrs Llp owns 3,920 shares or 0.02% of their US portfolio. Price Michael F invested 2.59% of its portfolio in Westlake Chemical Corporation (NYSE:WLK). Balyasny Asset Mgmt Ltd Liability Corporation reported 1.30 million shares. Arosa Cap Mgmt Limited Partnership owns 0.45% invested in Westlake Chemical Corporation (NYSE:WLK) for 38,100 shares. Walthausen Co Llc holds 91,360 shares or 0.71% of its portfolio. D E Shaw And owns 8,098 shares. The New York-based Bancorp Of Mellon has invested 0.02% in Westlake Chemical Corporation (NYSE:WLK). Symphony Asset Ltd Llc accumulated 36,474 shares. Kennedy Cap Management holds 110,518 shares or 0.17% of its portfolio. State Board Of Administration Of Florida Retirement Systems owns 53,147 shares for 0.01% of their portfolio. New York State Common Retirement Fund owns 0.02% invested in Westlake Chemical Corporation (NYSE:WLK) for 155,679 shares.

Among 18 analysts covering Westlake Chemical (NYSE:WLK), 11 have Buy rating, 1 Sell and 6 Hold. Therefore 61% are positive. Westlake Chemical had 49 analyst reports since July 24, 2015 according to SRatingsIntel. The firm earned “Sell” rating on Wednesday, November 8 by UBS. The firm has “Outperform” rating given on Thursday, September 1 by Cowen & Co. The rating was upgraded by SunTrust on Wednesday, June 15 to “Buy”. On Tuesday, October 24 the stock rating was maintained by Citigroup with “Buy”. RBC Capital Markets maintained Westlake Chemical Corporation (NYSE:WLK) on Wednesday, August 5 with “Outperform” rating. The stock of Westlake Chemical Corporation (NYSE:WLK) has “Neutral” rating given on Friday, July 24 by Nomura. The company was maintained on Thursday, August 3 by Alembic. As per Monday, September 18, the company rating was maintained by RBC Capital Markets. The stock of Westlake Chemical Corporation (NYSE:WLK) has “Neutral” rating given on Monday, August 10 by Goldman Sachs. The stock has “Sector Perform” rating by RBC Capital Markets on Monday, June 13.

Analysts await Westlake Chemical Corporation (NYSE:WLK) to report earnings on February, 20. They expect $1.64 earnings per share, up 88.51% or $0.77 from last year’s $0.87 per share. WLK’s profit will be $211.73M for 17.37 P/E if the $1.64 EPS becomes a reality. After $1.65 actual earnings per share reported by Westlake Chemical Corporation for the previous quarter, Wall Street now forecasts -0.61% negative EPS growth.

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