Westlake Corp EVP & CFO Mark Bender Sells Company Shares
Westlake Corp (NYSE:WLK), a global manufacturer and marketer of basic chemicals, vinyls, polymers, and building products, has reported an insider sale according to a recent SEC filing. The company's Executive Vice President and Chief Financial Officer, Mark Bender, sold 4,804 shares of the company on March 6, 2024.The transaction was executed at an average price of $141.02 per share, resulting in a total sale amount of $677,204.08. Following this transaction, the insider's stake in Westlake Corp has decreased, reflecting a change in the insider's holdings.Over the past year, Mark Bender has sold a total of 9,658 shares of Westlake Corp and has not made any purchases of the stock. The insider's recent sale continues a trend observed over the past year, where there have been no insider buys but four insider sells within the company.
The market capitalization of Westlake Corp stands at $18.35 billion, with the stock trading at $141.02 on the day of the insider's sale. The company's price-earnings ratio is currently 38.68, which is above both the industry median of 21.705 and the historical median for the company. This valuation suggests that the stock is trading at a premium compared to its peers and its own historical levels.
According to the GuruFocus Value, which is calculated based on historical trading multiples, an adjustment factor for past returns and growth, and future business performance estimates, the intrinsic value of Westlake Corp is estimated at $117.42 per share. With the current price of $141.02, the price-to-GF-Value ratio is 1.2, indicating that the stock is modestly overvalued in the market.The insider's decision to sell shares of Westlake Corp adds to the data points that investors may consider when evaluating the stock's current valuation and the insider's perspective on the company's future prospects.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
