Dimensional Fund Advisors LP Lowers Stake in West Pharmaceutical Services Inc. (WST)
Dimensional Fund Advisors LP cut its holdings in shares of West Pharmaceutical Services Inc. (NYSE:WST) by 1.7% during the third quarter, Holdings Channel reports. The fund owned 336,027 shares of the medical instruments supplier’s stock after selling 5,770 shares during the quarter. Dimensional Fund Advisors LP’s holdings in West Pharmaceutical Services were worth $32,346,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Acrospire Investment Management LLC purchased a new position in shares of West Pharmaceutical Services during the second quarter worth approximately $113,000. Citigroup Inc. grew its position in shares of West Pharmaceutical Services by 95.1% during the second quarter. Citigroup Inc. now owns 1,569 shares of the medical instruments supplier’s stock worth $148,000 after acquiring an additional 765 shares during the last quarter. Wolverine Trading LLC purchased a new position in shares of West Pharmaceutical Services during the second quarter worth approximately $200,000. Nomura Holdings Inc. purchased a new position in shares of West Pharmaceutical Services during the second quarter worth approximately $201,000. Finally, Grandfield & Dodd LLC purchased a new position in shares of West Pharmaceutical Services during the third quarter worth approximately $201,000. Institutional investors and hedge funds own 93.25% of the company’s stock.
Shares of West Pharmaceutical Services Inc. (NYSE:WST) opened at $97.74 on Tuesday. The company has a current ratio of 2.59, a quick ratio of 1.87 and a debt-to-equity ratio of 0.15. West Pharmaceutical Services Inc. has a fifty-two week low of $77.97 and a fifty-two week high of $103.36. The firm has a market capitalization of $7,260.00, a price-to-earnings ratio of 38.94, a P/E/G ratio of 2.00 and a beta of 1.12.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Thursday, January 18th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Wednesday, January 17th. West Pharmaceutical Services’s dividend payout ratio is presently 22.31%.
In related news, CFO William J. Federici sold 21,000 shares of the stock in a transaction on Friday, December 8th. The stock was sold at an average price of $99.01, for a total transaction of $2,079,210.00. Following the completion of the sale, the chief financial officer now directly owns 190,493 shares of the company’s stock, valued at $18,860,711.93. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.90% of the stock is owned by company insiders.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of West Pharmaceutical Services from a “hold” rating to a “sell” rating in a research report on Saturday, January 6th. Stephens initiated coverage on West Pharmaceutical Services in a report on Tuesday, October 3rd. They set an “equal weight” rating and a $99.00 price target for the company. Wells Fargo & Co increased their price target on West Pharmaceutical Services from $105.00 to $112.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. Finally, Bank of America downgraded West Pharmaceutical Services from a “buy” rating to a “neutral” rating and set a $98.00 price target for the company. in a report on Tuesday, October 17th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $106.00.
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About West Pharmaceutical Services
West Pharmaceutical Services, Inc is a manufacturer of packaging components and delivery systems for injectable drugs and healthcare products. The Company’s products include vial containment solutions, prefillable systems, self-injection platforms, cartridge systems and components, reconstitution and transfer systems, intradermal delivery solutions, specialty components, and contract manufacturing and analytical services.
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