We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Westlake's (WLK) Unit Acquires LASCO Fittings to Expand Footprint
Read MoreHide Full Article
Westlake Chemical Corporation’s (WLK - Free Report) subsidiary, North American Pipe Corporation (“NAPCO”), has announced the buyout of LASCO Fittings, Inc., a Brownsville, TN-based injected-molded PVC fittings manufacturer from Aalberts, NV.
The proposed transaction, expected to close during the second half of 2021, is subject to customary closing conditions and also the expiration of the waiting period under the 1976 U.S. Hart-Scott-Rodino Antitrust Improvements Act.
NAPCO noted that it is enthusiastic to include LASCO’s workforce in the parent group of companies. It is also hopeful that LASCO Fittings will enable it to expand its market outreach, especially since the latter has expertise in a range of markets in the United States like plumbing, pool and spa, industrial, irrigation and retail. LASCO’s portfolio is compatible with NAPCO’s existing range of products, thus widening the latter’s product offerings.
Shares of Westlake have soared around 64% in a year, underperforming the industry’s growth of 70%. Its earnings growth rate for the current year is pegged at around 383.4%.
Image Source: Zacks Investment Research
In its last-quarter earnings call, the company said that it sees continued strong global demand in polyethylene, PVC and downstream building products in strong markets for the downstream uses of its products, including residential construction, packaging and healthcare. The company remains focused on operating its facilities safely and efficiently. It is also making disciplined investments and new product launches, lowering costs and leveraging its current products and footprint, globally.
Avient has a projected earnings growth rate of 64.2% for the current year. The company’s shares have jumped nearly 78.9% in a year.
Univar has a projected earnings growth rate of 35.2% for the current year. The company’s shares have gained 38.2% in a year.
Cabot has a projected earnings growth rate of 137.5% for the current year. The company’s shares have soared around 53.7% in a year.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Image: Bigstock
Westlake's (WLK) Unit Acquires LASCO Fittings to Expand Footprint
Westlake Chemical Corporation’s (WLK - Free Report) subsidiary, North American Pipe Corporation (“NAPCO”), has announced the buyout of LASCO Fittings, Inc., a Brownsville, TN-based injected-molded PVC fittings manufacturer from Aalberts, NV.
The proposed transaction, expected to close during the second half of 2021, is subject to customary closing conditions and also the expiration of the waiting period under the 1976 U.S. Hart-Scott-Rodino Antitrust Improvements Act.
NAPCO noted that it is enthusiastic to include LASCO’s workforce in the parent group of companies. It is also hopeful that LASCO Fittings will enable it to expand its market outreach, especially since the latter has expertise in a range of markets in the United States like plumbing, pool and spa, industrial, irrigation and retail. LASCO’s portfolio is compatible with NAPCO’s existing range of products, thus widening the latter’s product offerings.
Shares of Westlake have soared around 64% in a year, underperforming the industry’s growth of 70%. Its earnings growth rate for the current year is pegged at around 383.4%.
In its last-quarter earnings call, the company said that it sees continued strong global demand in polyethylene, PVC and downstream building products in strong markets for the downstream uses of its products, including residential construction, packaging and healthcare. The company remains focused on operating its facilities safely and efficiently. It is also making disciplined investments and new product launches, lowering costs and leveraging its current products and footprint, globally.
Westlake Chemical Corporation Price and Consensus
Westlake Chemical Corporation price-consensus-chart | Westlake Chemical Corporation Quote
Zacks Rank & Other Stocks to Consider
Currently, Westlake carries a Zacks Rank #1 (Strong Buy).
Other top-ranked stocks in the basic materials space are Avient Corporation (AVNT - Free Report) , Univar Solutions Inc. and Cabot Corporation (CBT - Free Report) . While Avient and Univar sport a Zacks Rank #1, Cabot holds a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Avient has a projected earnings growth rate of 64.2% for the current year. The company’s shares have jumped nearly 78.9% in a year.
Univar has a projected earnings growth rate of 35.2% for the current year. The company’s shares have gained 38.2% in a year.
Cabot has a projected earnings growth rate of 137.5% for the current year. The company’s shares have soared around 53.7% in a year.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How to Profit from Trillions on Spending for Infrastructure >>