Allstate Corp Has $723,000 Stock Position in West Pharmaceutical Services, Inc. $WST

Key Points

• Allstate Corp increased its stake in West Pharmaceutical Services by 49.7% during the first quarter, holding a position valued at $723,000.
• Institutional investors collectively own 93.90% of West Pharmaceutical Services' stock, with multiple funds increasing their holdings significantly.
• West Pharmaceutical Services recently reported earnings of $1.84 per share, exceeding estimates, and declared an increased quarterly dividend of $0.22 per share.

Allstate Corp increased its position in shares of West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 49.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,228 shares of the medical instruments supplier's stock after buying an additional 1,072 shares during the period. Allstate Corp's holdings in West Pharmaceutical Services were worth $723,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Zions Bancorporation National Association UT bought a new stake in shares of West Pharmaceutical Services during the 1st quarter worth $25,000. First Horizon Advisors Inc. boosted its holdings in shares of West Pharmaceutical Services by 85.0% during the 1st quarter. First Horizon Advisors Inc. now owns 185 shares of the medical instruments supplier's stock worth $41,000 after buying an additional 85 shares during the period. Opal Wealth Advisors LLC bought a new stake in shares of West Pharmaceutical Services during the 1st quarter worth $53,000. Whipplewood Advisors LLC boosted its holdings in shares of West Pharmaceutical Services by 248.0% during the 1st quarter. Whipplewood Advisors LLC now owns 261 shares of the medical instruments supplier's stock worth $58,000 after buying an additional 186 shares during the period. Finally, Brooklyn Investment Group boosted its holdings in shares of West Pharmaceutical Services by 83.3% during the 1st quarter. Brooklyn Investment Group now owns 275 shares of the medical instruments supplier's stock worth $61,000 after buying an additional 125 shares during the period. 93.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

WST has been the subject of several research analyst reports. Citigroup reiterated a "buy" rating on shares of West Pharmaceutical Services in a research note on Thursday, May 22nd. Evercore ISI upped their target price on shares of West Pharmaceutical Services from $275.00 to $350.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Wall Street Zen upgraded shares of West Pharmaceutical Services from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Barclays initiated coverage on shares of West Pharmaceutical Services in a research note on Tuesday, June 24th. They set an "equal weight" rating and a $245.00 target price for the company. Finally, UBS Group upped their target price on shares of West Pharmaceutical Services from $285.00 to $320.00 and gave the company a "buy" rating in a research note on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $320.71.

West Pharmaceutical Services Price Performance

Shares of WST stock traded down $0.37 during mid-day trading on Thursday, reaching $245.60. The company's stock had a trading volume of 784,142 shares, compared to its average volume of 836,102. West Pharmaceutical Services, Inc. has a 1-year low of $187.43 and a 1-year high of $352.33. The company has a market cap of $17.66 billion, a P/E ratio of 36.77, a PEG ratio of 4.34 and a beta of 1.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.08 and a current ratio of 2.78. The firm's 50-day moving average is $233.67 and its two-hundred day moving average is $224.41.

West Pharmaceutical Services (NYSE:WST - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The medical instruments supplier reported $1.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.51 by $0.33. The company had revenue of $766.50 million during the quarter, compared to analysts' expectations of $725.11 million. West Pharmaceutical Services had a net margin of 16.48% and a return on equity of 18.43%. The business's revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.52 EPS. West Pharmaceutical Services has set its FY 2025 guidance at 6.650-6.850 EPS. On average, research analysts predict that West Pharmaceutical Services, Inc. will post 6.62 earnings per share for the current year.

West Pharmaceutical Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 19th. Investors of record on Wednesday, November 12th will be given a dividend of $0.22 per share. This is an increase from West Pharmaceutical Services's previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, November 12th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.4%. West Pharmaceutical Services's dividend payout ratio is 12.57%.

About West Pharmaceutical Services

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.