Westlake Chemical Reaches New 52-Week High (WLK)

NEW YORK ( TheStreet) -- Westlake Chemical Corporation (NYSE: WLK) hit a new 52-week high Monday as it is currently trading at $67.18, above its previous 52-week high of $66.92 with 84,783 shares traded as of 10:05 a.m. ET. Average volume has been 570,200 shares over the past 30 days.

Westlake Chemical has a market cap of $4.27 billion and is part of the basic materials sector and chemicals industry. Shares are up 47.7% year to date as of the close of trading on Friday.

Westlake Chemical Corporation manufactures and markets basic chemicals, vinyls, polymers, and fabricated building products. It operates in two segments, Olefins and Vinyls. The company has a P/E ratio of 14.5, below the average chemicals industry P/E ratio of 16.4 and below the S&P 500 P/E ratio of 17.7.

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, growth in earnings per share, increase in net income, largely solid financial position with reasonable debt levels by most measures and attractive valuation levels. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Westlake Chemical Ratings Report.

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