Southeast Asset Advisors Inc. Buys 2,990 Shares of West Pharmaceutical Services, Inc. (WST)
Southeast Asset Advisors Inc. lifted its stake in shares of West Pharmaceutical Services, Inc. (NYSE:WST) by 25.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,735 shares of the medical instruments supplier’s stock after acquiring an additional 2,990 shares during the quarter. West Pharmaceutical Services makes up approximately 0.5% of Southeast Asset Advisors Inc.’s holdings, making the stock its 29th biggest position. Southeast Asset Advisors Inc.’s holdings in West Pharmaceutical Services were worth $1,393,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC bought a new stake in West Pharmaceutical Services during the 2nd quarter worth approximately $113,000. Citigroup Inc. lifted its holdings in West Pharmaceutical Services by 95.1% during the second quarter. Citigroup Inc. now owns 1,569 shares of the medical instruments supplier’s stock valued at $148,000 after purchasing an additional 765 shares in the last quarter. Harfst & Associates Inc. purchased a new position in West Pharmaceutical Services during the first quarter valued at approximately $186,000. Wolverine Trading LLC purchased a new position in West Pharmaceutical Services during the second quarter valued at approximately $200,000. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in West Pharmaceutical Services by 1.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,569 shares of the medical instruments supplier’s stock valued at $210,000 after purchasing an additional 40 shares in the last quarter. 90.57% of the stock is owned by institutional investors.
A number of analysts have recently issued reports on the stock. Stephens assumed coverage on shares of West Pharmaceutical Services in a research report on Tuesday. They set an “equal weight” rating and a $99.00 price objective on the stock. Zacks Investment Research upgraded shares of West Pharmaceutical Services from a “sell” rating to a “hold” rating in a research note on Wednesday, September 27th. Jefferies Group LLC raised shares of West Pharmaceutical Services from a “hold” rating to a “buy” rating and upped their target price for the stock from $96.00 to $115.00 in a report on Friday, September 15th. Finally, BidaskClub lowered West Pharmaceutical Services from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. West Pharmaceutical Services has an average rating of “Hold” and a consensus price target of $107.33.
West Pharmaceutical Services, Inc. (WST) traded down 0.75% on Wednesday, reaching $93.91. The company’s stock had a trading volume of 137,164 shares. The company has a market capitalization of $6.95 billion, a price-to-earnings ratio of 40.30 and a beta of 1.12. The firm has a 50-day moving average of $90.36 and a 200 day moving average of $90.56. West Pharmaceutical Services, Inc. has a 12-month low of $70.17 and a 12-month high of $99.91.
West Pharmaceutical Services (NYSE:WST) last posted its earnings results on Thursday, July 27th. The medical instruments supplier reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.01. West Pharmaceutical Services had a net margin of 11.42% and a return on equity of 14.02%. The business had revenue of $397.60 million for the quarter, compared to analyst estimates of $406.00 million. During the same period in the prior year, the company posted $0.59 EPS. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, equities research analysts anticipate that West Pharmaceutical Services, Inc. will post $2.68 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Wednesday, October 18th will be issued a $0.14 dividend. This is a boost from West Pharmaceutical Services’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, October 17th. This represents a $0.56 dividend on an annualized basis and a yield of 0.59%. West Pharmaceutical Services’s dividend payout ratio is presently 22.22%.
West Pharmaceutical Services Profile
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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