Tower Research Capital LLC TRC purchased a new position in West Pharmaceutical Services Inc. (NYSE:WST) during the second quarter, Holdings Channel reports. The firm purchased 3,492 shares of the company’s stock, valued at approximately $265,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in WST. Geode Capital Management LLC raised its position in shares of West Pharmaceutical Services by 5.0% in the first quarter. Geode Capital Management LLC now owns 479,841 shares of the company’s stock worth $33,262,000 after buying an additional 23,029 shares during the period. Goldman Sachs Group Inc. raised its position in shares of West Pharmaceutical Services by 120.7% in the first quarter. Goldman Sachs Group Inc. now owns 626,014 shares of the company’s stock worth $43,395,000 after buying an additional 342,331 shares during the period. State Farm Mutual Automobile Insurance Co. raised its position in shares of West Pharmaceutical Services by 44.1% in the first quarter. State Farm Mutual Automobile Insurance Co. now owns 87,431 shares of the company’s stock worth $6,061,000 after buying an additional 26,763 shares during the period. JPMorgan Chase & Co. raised its position in shares of West Pharmaceutical Services by 4.2% in the first quarter. JPMorgan Chase & Co. now owns 1,161,702 shares of the company’s stock worth $80,529,000 after buying an additional 47,312 shares during the period. Finally, BlackRock Institutional Trust Company N.A. raised its position in shares of West Pharmaceutical Services by 0.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,045,108 shares of the company’s stock worth $141,767,000 after buying an additional 18,518 shares during the period. Institutional investors own 90.24% of the company’s stock.

Shares of West Pharmaceutical Services Inc. (NYSE:WST) opened at 74.62 on Friday. The stock has a 50 day moving average price of $81.20 and a 200-day moving average price of $74.85. The company has a market cap of $5.46 billion, a P/E ratio of 54.35 and a beta of 0.87. West Pharmaceutical Services Inc. has a 1-year low of $52.79 and a 1-year 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 (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.03. West Pharmaceutical Services had a return on equity of 14.40% and a net margin of 6.99%. The business earned $388 million during the quarter, compared to analysts’ expectations of $384.58 million. During the same period in the prior year, the firm posted $0.47 EPS. West Pharmaceutical Services’s quarterly revenue was up 7.9% compared to the same quarter last year. Analysts predict that West Pharmaceutical Services Inc. will post $2.22 earnings per share for the current fiscal year.

The business 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 a boost 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 0.70%. West Pharmaceutical Services’s dividend payout ratio is presently 35.04%.

A number of brokerages have issued reports on WST. 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 report on Friday, August 5th. Wells Fargo & Co. lowered West Pharmaceutical Services from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Finally, Jefferies Group reissued a “hold” rating on shares of West Pharmaceutical Services in a research note on Thursday, August 4th.

In other 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 completion of the transaction, the senior vice president now directly owns 13,513 shares of the company’s stock, valued at approximately $1,125,362.64. The sale was disclosed in a legal filing with the SEC, 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 directly owns 38,450 shares of the company’s stock, valued at $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 (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).

5 Day Chart for NYSE:WST

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