Westlake (WLK) Partners Resinex to Supply PVC Compounds
Westlake Corporation's WLK business unit, Westlake Global Compounds, and Resinex recently announced that they will expand the sales presence of Westlake's PVC compounds. WLK’s expertise in PVC compounds will be combined with Resinex's competence in selling polymer solutions to expand Westlake product access throughout the Resinex organization.
Resinex is a well-known company with a solid track record of customer cooperation. Together, Westlake and Resinex will be able to provide customers with a broader selection of high-quality PVC compounds that are tailored to their unique requirements.
The collaboration will concentrate on the European and Turkish markets. The companies anticipate the shipping of products to begin in the fourth quarter of 2023.
Shares of WLK have gained 40.7% over the past year compared with a 32.2% rise of its industry.
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WLK, on its second-quarter call, noted that it will focus on improving controllable costs and commercializing innovation in the Performance and Essential Materials unit in the remainder of 2023. For the Housing and Infrastructure Products segment, the company believes that its diverse portfolio of products with varied price points will allow it to help its customers address homebuyer affordability concerns through the substitution of materials.
Westlake Corp. Price and Consensus
Westlake Corp. price-consensus-chart | Westlake Corp. Quote
Zacks Rank & Key Picks
Westlake currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the basic materials space include Koppers Holdings Inc. KOP, Carpenter Technology Corporation CRS and The Andersons Inc. ANDE.
Koppers has a projected earnings growth rate of 7.5% for the current year. It currently carries a Zacks Rank #2 (Buy). Koppers has a trailing four-quarter earnings surprise of roughly 21.7%, on average. The stock has gained around 70.3% in a year. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Carpenter Technology currently carries a Zacks Rank #2. The stock has rallied roughly 96.7% in the past year. CRS beat the Zacks Consensus Estimate in three of the last four quarters while meeting in one. It delivered a trailing four-quarter earnings surprise of 9.8%, on average.
Andersons currently carries a Zacks Rank #2. The stock has gained roughly 57.8% in the past year. ANDE beat the Zacks Consensus Estimate in each of the last four quarters. It delivered a trailing four-quarter earnings surprise of 64.4%, on average.
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