West Pharmaceutical Services Inc. (WST) Holdings Increased by Comerica Bank
Comerica Bank raised its holdings in West Pharmaceutical Services Inc. (NYSE:WST) by 0.9% during the 4th quarter, HoldingsChannel reports. The fund owned 62,742 shares of the medical instruments supplier’s stock after acquiring an additional 585 shares during the quarter. Comerica Bank’s holdings in West Pharmaceutical Services were worth $6,293,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the business. Victory Capital Management Inc. raised its holdings in shares of West Pharmaceutical Services by 6.7% in the 4th quarter. Victory Capital Management Inc. now owns 402,990 shares of the medical instruments supplier’s stock valued at $39,763,000 after acquiring an additional 25,298 shares in the last quarter. Dean Capital Investments Management LLC purchased a new stake in shares of West Pharmaceutical Services in the 4th quarter valued at about $346,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of West Pharmaceutical Services by 39.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,338 shares of the medical instruments supplier’s stock valued at $428,000 after acquiring an additional 1,228 shares in the last quarter. High Pointe Capital Management LLC purchased a new stake in shares of West Pharmaceutical Services in the 4th quarter valued at about $308,000. Finally, Security Asset Management purchased a new stake in shares of West Pharmaceutical Services in the 4th quarter valued at about $1,021,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.
WST has been the topic of several recent analyst reports. Bank of America cut West Pharmaceutical Services from a “buy” rating to a “neutral” rating and set a $98.00 price target on the stock. in a report on Tuesday, October 17th. Wells Fargo & Co raised their price target on West Pharmaceutical Services from $105.00 to $112.00 and gave the company an “outperform” rating in a report on Friday, October 27th. Zacks Investment Research cut West Pharmaceutical Services from a “hold” rating to a “sell” rating in a report on Saturday, January 6th. Finally, Goldman Sachs Group initiated coverage on West Pharmaceutical Services in a report on Wednesday, January 24th. They issued a “neutral” rating and a $110.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $108.17.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Thursday, January 18th were issued a dividend of $0.14 per share. The ex-dividend date was Wednesday, January 17th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.61%. West Pharmaceutical Services’s dividend payout ratio is 22.31%.
In related news, CFO William J. Federici sold 21,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 190,493 shares of the company’s stock, valued at approximately $18,860,711.93. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.90% of the company’s stock.
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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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