A significant insider buy by Andrew Kenner, SVP at Westlake Chemical (NYSE:WLKP), was executed on April 1, and reported in the recent SEC filing.
What Happened: Kenner's recent move, as outlined in a Form 4 filing with the U.S. Securities and Exchange Commission on Monday, involves purchasing 5,000 shares of Westlake Chemical. The total transaction value is $111,150.
The latest market snapshot at Monday morning reveals Westlake Chemical shares up by 1.35%, trading at $22.5.
Unveiling the Story Behind Westlake Chemical
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.
Unraveling the Financial Story of Westlake Chemical
Decline in Revenue: Over the 3 months period, Westlake Chemical faced challenges, resulting in a decline of approximately -18.96% in revenue growth as of 31 December, 2023. This signifies a reduction in the company's top-line earnings. As compared to ...