Westlake Corp (NYSE:WLK) executive Robert F. Buesinger, who serves as the company's Executive Vice President of HIP, IT & Digital, has sold 3,500 shares of the company’s common stock. The transaction, which took place on May 9, 2024, was executed at a price of $158.50 per share, resulting in a total sale value of $554,750.
This recent sale has adjusted Buesinger’s holdings in the company to 17,644 shares of common stock. The details of the transaction were made public through a Form 4 filing with the Securities and Exchange Commission.
Investors often monitor insider buying and selling as it can provide insights into how executives perceive the company's current valuation and future prospects. The sale by Buesinger represents a notable change in his position in Westlake Corp, a company known for its role in the industrial organic chemicals industry.
As of the latest reports, Westlake Corp continues to operate out of its headquarters in Houston, Texas, and remains a key player in its sector. Following this transaction, the market will be watching for any further insider activity and what it may signal about the company's direction and financial health.
InvestingPro Insights
In light of the recent insider transaction at Westlake Corp (NYSE:WLK), where Executive Vice President Robert F. Buesinger sold a substantial number of shares, investors may be keen to understand the company's current financial standing through various metrics. Westlake Corp, with an adjusted market capitalization of $20.42 billion, shows a Price/Earnings (P/E) ratio of 79.01, which adjusts to 35.57 when considering the last twelve months as of Q1 2024. This suggests a significant decrease in earnings valuation over the past year.
An InvestingPro Tip indicates that a PEG Ratio below 1 may point to the stock being undervalued relative to its earnings growth, and with Westlake's PEG Ratio sitting at -0.92 for the same period, this could be a sign for investors to consider. Additionally, the company's Price/Book ratio is 1.98, which coupled with a Revenue Growth of -19.39% in the last twelve months as of Q1 2024, might offer insights into the company's asset valuation in relation to its revenue performance.
For those looking to delve deeper into Westlake Corp's financials, InvestingPro offers a comprehensive array of additional metrics. Currently, there are 7 additional InvestingPro Tips available, which can be accessed with an exclusive 10% discount using coupon code PRONEWS24 on a yearly or biyearly Pro and Pro+ subscription. These tips could provide further context to the insider selling activity and help investors make more informed decisions.
It's worth noting that the company's Price is at 97.55% of its 52-week high, and it has experienced a 1-year price total return of 40.17%, reflecting strong recent performance in the market. As Westlake Corp approaches its next earnings date on July 30, 2024, the investment community will undoubtedly be watching closely for potential impacts on the stock's value and future insider transactions.
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