A significant insider buy by Andrew Kenner, SVP at Westlake Chemical (NYSE:WLKP), was executed on March 25, and reported in the recent SEC filing.
What Happened: In a significant move reported in a Form 4 filing with the U.S. Securities and Exchange Commission on Monday, Kenner purchased 4,230 shares of Westlake Chemical, demonstrating confidence in the company's growth potential. The total value of the transaction stands at $93,736.
Monitoring the market, Westlake Chemical's shares down by 2.42% at $21.75 during Monday's morning.
Delving into Westlake Chemical's Background
Westlake Chemical Partners LP is a part of the chemical industry in the United States. Its operations are conducted through OpCo, it acquires and develop ethyelene production facilities, which convert ethane into ethylene. OpCo sells ethylene and its co-products such as propylene, crude butadiene, pyrolysis gasoline, and hydrogen to Westlake and other customers located in the United States. Its assets include three ethylene production facilities in Calvert City, Kentucky, and Lake Charles, Louisiana.
Understanding the Numbers: Westlake Chemical's Finances
Revenue Challenges: Westlake Chemical's revenue growth over 3 months faced difficulties. As of 31 December, 2023, the company experienced a decline of approximately -18.96%. This indicates a decrease in top-line earnings. ...