NEW YORK ( TheStreet) -- Westlake Chemical Corporation (NYSE: WLK) hit a new 52-week high Wednesday as it traded at $44.21 compared with its previous 52-Week high of $44.16. Westlake Chemical is changing hands at $44.21 with 4,720 shares traded as of 9:37 a.m. ET. Average volume has been 218,100 shares over the past 30 days. Westlake Chemical has a market cap of $2.9 billion and is part of the basic materials sector and chemicals industry. Shares are up 0.4% year to date as of the close of trading on Tuesday. Westlake Chemical Corporation manufactures and markets basic chemicals, vinyls, polymers, and fabricated products. It operates in two segments, Olefins and Vinyls. The company has a P/E ratio of 19.5, equal to the average chemicals industry P/E ratio and below the S&P 500 P/E ratio of 23.4. TheStreet Ratings rates Westlake Chemical as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, robust revenue growth and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full Westlake Chemical Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center.