Whittier Trust Co. boosted its stake in shares of West Pharmaceutical Services Inc. (NYSE:WST) by 1.2% during the second quarter, Holdings Channel reports. The fund owned 21,649 shares of the company’s stock after buying an additional 262 shares during the period. Whittier Trust Co.’s holdings in West Pharmaceutical Services were worth $1,643,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in West Pharmaceutical Services during the fourth quarter valued at approximately $35,278,000. Goldman Sachs Group Inc. raised its stake in West Pharmaceutical Services by 120.7% in the first quarter. Goldman Sachs Group Inc. now owns 626,014 shares of the company’s stock valued at $43,395,000 after buying an additional 342,331 shares during the period. Hermes Investment Management Ltd. raised its stake in West Pharmaceutical Services by 16.2% in the second quarter. Hermes Investment Management Ltd. now owns 1,078,867 shares of the company’s stock valued at $81,864,000 after buying an additional 150,064 shares during the period. Prudential Financial Inc. raised its stake in West Pharmaceutical Services by 69.3% in the first quarter. Prudential Financial Inc. now owns 242,874 shares of the company’s stock valued at $16,836,000 after buying an additional 99,400 shares during the period. Finally, Robeco Institutional Asset Management B.V. bought a new stake in West Pharmaceutical Services during the second quarter valued at approximately $5,358,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.
Shares of West Pharmaceutical Services Inc. (NYSE:WST) traded up 0.71% on Friday, hitting $75.44. The stock had a trading volume of 675,234 shares. The firm has a market cap of $5.52 billion, a P/E ratio of 54.95 and a beta of 0.86. West Pharmaceutical Services Inc. has a 12 month low of $53.88 and a 12 month high of $84.33. The firm’s 50-day moving average price is $78.94 and its 200 day moving average price is $75.58.
West Pharmaceutical Services (NYSE:WST) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.03. West Pharmaceutical Services had a net margin of 6.99% and a return on equity of 14.40%. The business earned $388 million during the quarter, compared to analysts’ expectations of $384.58 million. During the same quarter in the prior year, the company posted $0.47 EPS. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. Analysts anticipate that West Pharmaceutical Services Inc. will post $2.22 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 2nd. Stockholders of record on Wednesday, October 19th will be paid a $0.13 dividend. This is a boost from West Pharmaceutical Services’s previous quarterly dividend of $0.12. The ex-dividend date is Monday, October 17th. This represents a $0.52 annualized dividend and a dividend yield of 0.69%. West Pharmaceutical Services’s dividend payout ratio is 35.04%.
A number of equities research analysts have issued reports on the company. Jefferies Group reiterated a “hold” rating on shares of West Pharmaceutical Services in a research note on Thursday, August 4th. Wells Fargo & Co. lowered West Pharmaceutical Services from an “outperform” rating to a “market perform” rating in a research note on Wednesday, September 21st. Zacks Investment Research upgraded West Pharmaceutical Services from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research note on Friday, August 5th. Finally, Janney Montgomery Scott reiterated a “fair value” rating and issued a $72.55 price target (down previously from $90.00) on shares of West Pharmaceutical Services in a research note on Monday, September 26th.
In other news, 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 transaction, the senior vice president now directly owns 13,513 shares in the company, valued at approximately $1,125,362.64. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $248,075.10. Following the completion of the transaction, the director now owns 38,450 shares in the company, valued at $3,135,597.50. The disclosure for this sale can be found here. 5.13% of the stock is currently owned by 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).
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