Retirement Systems of Alabama boosted its stake in shares of West Pharmaceutical Services Inc. (NYSE:WST) by 1.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 94,267 shares of the company’s stock after buying an additional 996 shares during the period. Retirement Systems of Alabama’s holdings in West Pharmaceutical Services were worth $7,153,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in WST. BlueMountain Capital Management LLC purchased a new position in West Pharmaceutical Services during the first quarter valued at $120,000. Checchi Capital Advisers LLC boosted its position in West Pharmaceutical Services by 41,428.6% in the second quarter. Checchi Capital Advisers LLC now owns 2,907 shares of the company’s stock valued at $221,000 after buying an additional 2,900 shares in the last quarter. National Investment Services Inc. WI purchased a new position in West Pharmaceutical Services during the second quarter valued at $265,000. Bank of Montreal Can purchased a new position in West Pharmaceutical Services during the second quarter valued at $308,000. Finally, Virginia Retirement System purchased a new position in West Pharmaceutical Services during the first quarter valued at $326,000. Institutional investors and hedge funds own 90.24% of the company’s stock.
Shares of West Pharmaceutical Services Inc. (NYSE:WST) traded up 0.71% during trading on Friday, hitting $75.44. The stock had a trading volume of 675,234 shares. The firm’s 50-day moving average is $78.94 and its 200 day moving average is $75.58. West Pharmaceutical Services Inc. has a 52-week low of $53.88 and a 52-week high of $84.33. The firm has a market cap of $5.52 billion, a price-to-earnings ratio of 54.95 and a beta of 0.86.
West Pharmaceutical Services (NYSE:WST) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. The company earned $388 million during the quarter, compared to analysts’ expectations of $384.58 million. West Pharmaceutical Services had a return on equity of 14.40% and a net margin of 6.99%. West Pharmaceutical Services’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.47 EPS. On average, analysts expect that West Pharmaceutical Services Inc. will post $2.22 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 2nd. Investors of record on Wednesday, October 19th will be issued a $0.13 dividend. This is a boost from West Pharmaceutical Services’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Monday, October 17th. This represents a $0.52 dividend on an annualized basis and a yield of 0.69%. West Pharmaceutical Services’s dividend payout ratio is presently 35.04%.
Several equities analysts have weighed in on the company. Jefferies Group restated a “hold” rating on shares of West Pharmaceutical Services in a report on Thursday, August 4th. Wells Fargo & Co. cut West Pharmaceutical Services from an “outperform” rating to a “market perform” rating in a report on Wednesday, September 21st. Zacks Investment Research upgraded West Pharmaceutical Services from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a report on Friday, August 5th. Finally, Janney Montgomery Scott reiterated a “fair value” rating and issued a $72.55 target price (down previously from $90.00) on shares of West Pharmaceutical Services in a report on Monday, September 26th.
In other news, Director Paula A. Johnson sold 3,042 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $81.55, for a total value of $248,075.10. Following the completion of the sale, the director now directly owns 38,450 shares in the company, valued at $3,135,597.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Karen Flynn sold 14,581 shares of the company’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $83.28, for a total value of $1,214,305.68. Following the completion of the sale, the senior vice president now owns 13,513 shares of the company’s stock, valued at $1,125,362.64. The disclosure for this sale can be found here. 5.13% of the stock is owned by corporate insiders.
West Pharmaceutical Services Company Profile
West Pharmaceutical Services, Inc (West) is a manufacturer of components and systems for the packaging and delivery of injectable drugs, as well as delivery system components for the pharmaceutical, healthcare and consumer products industries. The Company’s segments include Pharmaceutical Packaging Systems segment (Packaging Systems) and the Pharmaceutical Delivery Systems segment (Delivery Systems).
Want to see what other hedge funds are holding WST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for West Pharmaceutical Services Inc. (NYSE:WST).
Receive News & Ratings for West Pharmaceutical Services Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for West Pharmaceutical Services Inc. and related companies with MarketBeat.com's FREE daily email newsletter.