Texas Permanent School Fund boosted its holdings in shares of West Pharmaceutical Services, Inc. (NYSE:WST – Get Rating) by 1.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,784 shares of the medical instruments supplier’s stock after buying an additional 175 shares during the quarter. Texas Permanent School Fund’s holdings in West Pharmaceutical Services were worth $2,958,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the business. CX Institutional acquired a new stake in West Pharmaceutical Services during the second quarter worth about $28,000. Addison Advisors LLC boosted its position in West Pharmaceutical Services by 221.7% in the 1st quarter. Addison Advisors LLC now owns 74 shares of the medical instruments supplier’s stock worth $30,000 after purchasing an additional 51 shares in the last quarter. Allworth Financial LP grew its stake in shares of West Pharmaceutical Services by 70.8% during the 2nd quarter. Allworth Financial LP now owns 123 shares of the medical instruments supplier’s stock worth $37,000 after purchasing an additional 51 shares during the period. Glassman Wealth Services increased its holdings in shares of West Pharmaceutical Services by 57.0% during the 2nd quarter. Glassman Wealth Services now owns 146 shares of the medical instruments supplier’s stock valued at $44,000 after purchasing an additional 53 shares in the last quarter. Finally, Clear Street Markets LLC lifted its stake in shares of West Pharmaceutical Services by 400.0% in the 2nd quarter. Clear Street Markets LLC now owns 155 shares of the medical instruments supplier’s stock valued at $47,000 after purchasing an additional 124 shares during the period. 91.98% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms recently commented on WST. KeyCorp dropped their price target on shares of West Pharmaceutical Services from $400.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, October 28th. StockNews.com assumed coverage on West Pharmaceutical Services in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Bank of America downgraded West Pharmaceutical Services from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $385.00 to $250.00 in a research report on Friday, October 28th.
West Pharmaceutical Services Stock Up 3.4 %
West Pharmaceutical Services Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 16th. Investors of record on Wednesday, November 9th will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, November 8th. This is a positive change from West Pharmaceutical Services’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a yield of 0.30%. West Pharmaceutical Services’s payout ratio is presently 9.17%.
West Pharmaceutical Services 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.
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