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| Land This Bargain 8.0% Yielder Even Cheaper Than SVP, Olefin Material & Corp Pr Kenner DidBy Dividend Channel Staff, Tuesday, November 15, 4:42 PM ET
There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on November 10, Westlake Chemical Partners LP's SVP, Olefin Material & Corp Pr, Andrew Kenner, invested $129,550.53 into 5,638 shares of WLKP, for a cost per share of $22.98. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. In trading on Tuesday, bargain hunters could buy shares of Westlake Chemical Partners LP (NYSE:WLKP) and achieve a cost basis even cheaper than Kenner, with shares changing hands as low as $22.82 per share. Westlake Chemical Partners LP shares are currently trading off about 2.9% on the day. The chart below shows the one year performance of WLKP shares, versus its 200 day moving average:
Looking at the chart above, WLKP's low point in its 52 week range is $19.71 per share, with $29.40 as the 52 week high point — that compares with a last trade of $22.83. By comparison, below is a table showing the prices at which WLKP insider buying was recorded over the last six months:
The current annualized dividend paid by Westlake Chemical Partners LP is $1.8856/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 11/09/2022. Below is a long-term dividend history chart for WLKP, which can be of good help in judging whether the most recent dividend with approx. 8.0% annualized yield is likely to continue.
Free Report: Top 8%+ Dividends (paid monthly)
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