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HOUSTON—James Chao, Senior Chairman of Westlake Chemical Partners LP (NYSE:WLKP), a $782 million market cap company known for its stable 8.5% dividend yield, recently sold a significant portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Chao sold a total of 10,208 common units over two days. InvestingPro analysis indicates the stock is currently trading near its 52-week low, with a GOOD financial health rating.
On May 27, Chao sold 5,608 shares at a weighted average price of $22.17 per share. The following day, he sold an additional 4,600 shares at a weighted average price of $22.10 per share. The sales were executed at prices ranging from $22.03 to $22.27 on the first day and from $22.05 to $22.25 on the second day. These transactions totaled approximately $225,989.
Following these sales, Chao retains ownership of 3,700 common units in the company.
In other recent news, Westlake Chemical (NYSE:WLK) Partners reported its first-quarter 2025 earnings, which fell short of expectations. The company announced an earnings per share (EPS) of $0.14, significantly below the forecasted $0.37. This shortfall was primarily due to a planned turnaround of a petrochemical unit, impacting production and financial results. Revenue for the quarter was $238 million, with net income totaling $5 million, marking a $10 million decrease compared to the previous year. Despite the earnings miss, the company highlighted its stable fee-based cash flow model, which it believes will help navigate market volatility. Westlake Chemical Partners also emphasized that no further turnarounds are planned for 2025 or 2026. Additionally, the company identified growth strategies, including increasing OpCo ownership and pursuing organic growth opportunities. Analyst feedback was not prominently featured, but the company’s focus on stability and predictable cash flow was underscored by its management team.
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