Westlake Chemical Corporation (WLK): Insiders Aren’t Crazy About It

Page 1 of 2

Westlake Chemical Corporation (NYSE:WLK) has experienced an increase in enthusiasm from smart money lately.

Westlake Chemical Corporation

In the 21st century investor’s toolkit, there are many methods market participants can use to track their holdings. A couple of the best are hedge fund and insider trading movement. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the best money managers can beat the broader indices by a solid amount (see just how much).

Equally as integral, bullish insider trading activity is another way to break down the investments you’re interested in. Obviously, there are lots of motivations for a corporate insider to drop shares of his or her company, but just one, very clear reason why they would initiate a purchase. Many empirical studies have demonstrated the useful potential of this strategy if piggybackers know where to look (learn more here).

With all of this in mind, it’s important to take a glance at the key action surrounding Westlake Chemical Corporation (NYSE:WLK).

Hedge fund activity in Westlake Chemical Corporation (NYSE:WLK)

In preparation for this quarter, a total of 29 of the hedge funds we track were long in this stock, a change of 21% from the previous quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists a select group of notable hedge fund managers who were upping their stakes meaningfully.

According to our comprehensive database, Royce & Associates, managed by Chuck Royce, holds the largest position in Westlake Chemical Corporation (NYSE:WLK). Royce & Associates has a $309.8 million position in the stock, comprising 0.9% of its 13F portfolio. Coming in second is Israel Englander of Millennium Management, with a $63 million position; 0.3% of its 13F portfolio is allocated to the stock. Other peers that hold long positions include John Burbank’s Passport Capital, Jeffrey Vinik’s Vinik Asset Management and Sean Cullinan’s Point State Capital.

With a general bullishness amongst the heavyweights, key hedge funds have been driving this bullishness. Adage Capital Management, managed by Phill Gross and Robert Atchinson, initiated the biggest position in Westlake Chemical Corporation (NYSE:WLK). Adage Capital Management had 31.2 million invested in the company at the end of the quarter. Anand Parekh’s Alyeska Investment Group also initiated a $4.7 million position during the quarter. The following funds were also among the new WLK investors: Wayne Cooperman’s Cobalt Capital Management, Paul Marshall and Ian Wace’s Marshall Wace LLP, and Colin Hall and James Davidson’s Long Oar Global Investors.

Insider trading activity in Westlake Chemical Corporation (NYSE:WLK)

Insider purchases made by high-level executives is at its handiest when the primary stock in question has experienced transactions within the past six months. Over the last 180-day time period, Westlake Chemical Corporation (NYSE:WLK) has experienced zero unique insiders buying, and 13 insider sales (see the details of insider trades here).

Let’s also take a look at hedge fund and insider activity in other stocks similar to Westlake Chemical Corporation (NYSE:WLK). These stocks are Rockwood Holdings, Inc. (NYSE:ROC), The Valspar Corporation (NYSE:VAL), Albemarle Corporation (NYSE:ALB), W.R. Grace & Co. (NYSE:GRA), and International Flavors & Fragrances Inc (NYSE:IFF). This group of stocks are the members of the specialty chemicals industry and their market caps are similar to WLK’s market cap.

Page 1 of 2
blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

12 Most Expensive Countries for Foreign Students

Top 30 Most Influential Women in the World

Top 20 Most Expensive New Year Eve Shows

Top 5 Best Vocational Careers

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!