Meeder Asset Management Inc. Increases Stake in West Pharmaceutical Services, Inc. (NYSE:WST)

Meeder Asset Management Inc. raised its position in shares of West Pharmaceutical Services, Inc. (NYSE:WST) by 117.7% in the third quarter, Holdings Channel reports. The firm owned 653 shares of the medical instruments supplier’s stock after acquiring an additional 353 shares during the quarter. Meeder Asset Management Inc.’s holdings in West Pharmaceutical Services were worth $196,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. LGT Group Foundation purchased a new position in shares of West Pharmaceutical Services in the second quarter worth $68,854,000. Liontrust Investment Partners LLP purchased a new position in West Pharmaceutical Services in the 2nd quarter worth about $64,196,000. Iron Triangle Partners LP bought a new position in West Pharmaceutical Services during the 1st quarter valued at about $47,381,000. Sei Investments Co. boosted its holdings in shares of West Pharmaceutical Services by 12.7% during the 2nd quarter. Sei Investments Co. now owns 401,026 shares of the medical instruments supplier’s stock valued at $132,095,000 after acquiring an additional 45,208 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in shares of West Pharmaceutical Services by 25.0% in the second quarter. Canada Pension Plan Investment Board now owns 207,564 shares of the medical instruments supplier’s stock worth $68,370,000 after acquiring an additional 41,454 shares during the period. Institutional investors own 93.90% of the company’s stock.

Insider Activity

In other West Pharmaceutical Services news, VP Charles Witherspoon sold 703 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was 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 directly owns 1,253 shares in the company, valued at $388,931.20. This represents a 35.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.53% of the company’s stock.

West Pharmaceutical Services Stock Down 1.0 %

WST opened at $304.08 on Wednesday. West Pharmaceutical Services, Inc. has a twelve month low of $265.00 and a twelve month 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. The firm has a 50 day moving average price of $306.05 and a 200-day moving average price of $314.99. The stock has a market capitalization of $22.02 billion, a price-to-earnings ratio of 45.12, a PEG ratio of 23.20 and a beta of 1.00.

West Pharmaceutical Services (NYSE:WST) last released its quarterly earnings results on Thursday, October 24th. The medical instruments supplier reported $1.85 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $709.62 million. During the same period in the previous year, the company posted $2.16 EPS. The business’s quarterly revenue was down .1% compared to the same quarter last year. Equities research analysts forecast that West Pharmaceutical Services, Inc. will post 6.67 earnings per share 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 paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.28%. 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 (DPR) is currently 12.46%.

West Pharmaceutical Services Company Profile

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.