First Mercantile Trust Co. Sells 23,306 Shares of West Pharmaceutical Services Inc. (WST)
First Mercantile Trust Co. lowered its position in West Pharmaceutical Services Inc. (NYSE:WST) by 68.0% during the second quarter, Holdings Channel reports. The firm owned 10,958 shares of the company’s stock after selling 23,306 shares during the period. First Mercantile Trust Co.’s holdings in West Pharmaceutical Services were worth $831,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. BlueMountain Capital Management LLC purchased a new stake in shares of West Pharmaceutical Services during the first quarter worth approximately $120,000. Cambridge Investment Research Advisors Inc. bought a new stake in West Pharmaceutical Services during the second quarter worth about $205,000. Checchi Capital Advisers LLC increased its stake 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 worth $221,000 after buying an additional 2,900 shares during the last quarter. National Investment Services Inc. WI bought a new stake in West Pharmaceutical Services during the second quarter worth about $265,000. Finally, World Asset Management Inc increased its stake in West Pharmaceutical Services by 0.3% in the second quarter. World Asset Management Inc now owns 3,549 shares of the company’s stock worth $269,000 after buying an additional 11 shares during the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.
West Pharmaceutical Services Inc. (NYSE:WST) opened at 81.32 on Tuesday. The firm’s 50-day moving average is $81.53 and its 200-day moving average is $74.73. The firm has a market capitalization of $5.95 billion, a PE ratio of 59.23 and a beta of 0.87. West Pharmaceutical Services Inc. has a 12 month low of $52.79 and a 12 month high of $84.33.
West Pharmaceutical Services (NYSE:WST) last issued its earnings results on Thursday, July 28th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. The company had revenue of $388 million for the quarter, compared to the consensus estimate of $384.58 million. West Pharmaceutical Services had a return on equity of 14.40% and a net margin of 6.99%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.47 EPS. On average, equities research analysts expect that West Pharmaceutical Services Inc. will post $2.23 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 2nd. Stockholders of record on Wednesday, October 19th will be issued a $0.13 dividend. This is an increase from West Pharmaceutical Services’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.64%. West Pharmaceutical Services’s dividend payout ratio is currently 35.04%.
A number of research firms recently issued reports on WST. Zacks Investment Research upgraded shares of 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. Jefferies Group restated a “hold” rating on shares of West Pharmaceutical Services in a report on Thursday, August 4th.
In related news, SVP Karen Flynn sold 14,581 shares of the stock in a transaction that occurred on Tuesday, September 6th. The stock was 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 owns 13,513 shares in the company, valued at $1,125,362.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Paula A. Johnson sold 3,042 shares of the 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 transaction, the director now owns 38,450 shares in the company, valued at approximately $3,135,597.50. The disclosure for this sale can be found here. 5.13% of the stock is owned by insiders.
West Pharmaceutical Services Company Profile
West Pharmaceutical Services, Inc 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 products include stoppers and seals for vials, prefillable syringe components and systems, components for intravenous and blood collection systems, safety and administration systems, advanced injection systems, and contract design and manufacturing services.
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