Wed Sep 25 08:47:20 UTC 2024: ## Renaissance Technologies Invests in Westlake Co. Amidst Growing Institutional Interest

**New York, NY** – Renaissance Technologies LLC, the renowned quantitative investment firm, has acquired a new stake in Westlake Co. (NYSE: WLK), a leading specialty chemicals company, according to the firm’s recent SEC filing. The purchase, valued at $8,559,000, saw the firm acquire 59,100 shares of Westlake’s stock during the second quarter.

This move comes amidst a growing trend of institutional investors taking interest in Westlake. Norges Bank established a new position in the company during the fourth quarter, worth $50,961,000. UBS Group AG increased its holdings by 54.4%, now owning 48,169 shares valued at $6,742,000. Other notable investors include Treasurer of the State of North Carolina, TFO Wealth Partners LLC, and Capstone Investment Advisors LLC, all of whom significantly boosted their stakes in Westlake during the fourth quarter.

Overall, hedge funds and institutional investors currently own 28.40% of Westlake’s outstanding shares.

Westlake’s stock opened at $147.93 on Wednesday. The company recently announced a quarterly dividend of $0.525 per share, a bump from the previous $0.50, payable on Thursday, September 5th. This represents a dividend yield of 1.42%.

Analysts remain divided on the company’s outlook. StockNews.com downgraded Westlake to a “sell” rating, while UBS Group lowered their target price to $160.00. However, Royal Bank of Canada upgraded the stock to an “outperform” rating and raised their price objective to $174.00.

Despite the mixed opinions, Westlake continues to attract attention from institutional investors. With a market capitalization of $19.02 billion and a dividend yield of 1.42%, Westlake remains a company worth watching in the specialty chemicals sector.

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