New York State Teachers Retirement System cut its position in shares of West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 9.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 67,105 shares of the medical instruments supplier's stock after selling 6,809 shares during the period. New York State Teachers Retirement System owned approximately 0.09% of West Pharmaceutical Services worth $20,142,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of West Pharmaceutical Services by 6.8% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 593,692 shares of the medical instruments supplier's stock worth $195,556,000 after purchasing an additional 37,702 shares during the last quarter. ProShare Advisors LLC boosted its position in West Pharmaceutical Services by 13.9% in the 1st quarter. ProShare Advisors LLC now owns 500,662 shares of the medical instruments supplier's stock valued at $198,117,000 after buying an additional 61,247 shares during the period. Sei Investments Co. grew its stake in West Pharmaceutical Services by 12.7% in the 2nd quarter. Sei Investments Co. now owns 401,026 shares of the medical instruments supplier's stock worth $132,095,000 after acquiring an additional 45,208 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of West Pharmaceutical Services by 9.8% during the second quarter. Envestnet Asset Management Inc. now owns 301,339 shares of the medical instruments supplier's stock worth $99,258,000 after acquiring an additional 26,947 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of West Pharmaceutical Services by 11.7% during the second quarter. Dimensional Fund Advisors LP now owns 288,639 shares of the medical instruments supplier's stock valued at $95,075,000 after acquiring an additional 30,253 shares in the last quarter. 93.90% of the stock is currently owned by institutional investors.
Insider Transactions at West Pharmaceutical Services
In related news, VP Charles Witherspoon sold 703 shares of the business's stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $310.40, for a total value of $218,211.20. Following the completion of the transaction, the vice president now owns 1,253 shares of the company's stock, valued at $388,931.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.53% of the company's stock.
West Pharmaceutical Services Trading Up 2.8 %
NYSE:WST traded up $8.57 during midday trading on Friday, hitting $316.50. The stock had a trading volume of 623,673 shares, compared to its average volume of 850,829. The stock has a 50-day moving average of $301.68 and a 200 day moving average of $319.76. The company has a market capitalization of $22.92 billion, a price-to-earnings ratio of 46.96, a PEG ratio of 23.20 and a beta of 1.00. West Pharmaceutical Services, Inc. has a one year low of $265.00 and a one year high of $413.70. The company has a quick ratio of 2.23, a current ratio of 3.00 and a debt-to-equity ratio of 0.07.
West Pharmaceutical Services (NYSE:WST - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The medical instruments supplier reported $1.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.50 by $0.35. West Pharmaceutical Services had a return on equity of 18.41% and a net margin of 17.37%. The business had revenue of $746.90 million for the quarter, compared to the consensus estimate of $709.62 million. During the same quarter in the prior year, the company earned $2.16 EPS. The business's revenue was down .1% compared to the same quarter last year. As a group, sell-side analysts forecast that West Pharmaceutical Services, Inc. will post 6.69 EPS for the current year.
West Pharmaceutical Services Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Wednesday, November 13th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.27%. The ex-dividend date is Wednesday, November 13th. This is a boost from West Pharmaceutical Services's previous quarterly dividend of $0.20. West Pharmaceutical Services's dividend payout ratio is presently 11.87%.
West Pharmaceutical Services Profile
(
Free Report)
West Pharmaceutical Services, Inc designs, manufactures, and sells containment and delivery systems for injectable drugs and healthcare products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in two segments, Proprietary Products and Contract-Manufactured Products.
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