Harfst & Associates Inc. Has $836,000 Stock Holdings in West Pharmaceutical Services, Inc. (NYSE:WST)

Key Points

• Harfst & Associates Inc. sold 3,908 shares of West Pharmaceutical Services, reducing its holdings by 51.2%, leaving it with 3,732 shares valued at $836,000.
• Institutional investors collectively own 93.90% of West Pharmaceutical Services, indicating strong institutional interest in the company.
• West Pharmaceutical Services reported a quarterly revenue of $766.50 million, exceeding analyst expectations, and announced an increase in its quarterly dividend from $0.21 to $0.22 per share.

Harfst & Associates Inc. trimmed its position in West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 51.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,732 shares of the medical instruments supplier's stock after selling 3,908 shares during the quarter. Harfst & Associates Inc.'s holdings in West Pharmaceutical Services were worth $836,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Zions Bancorporation National Association UT acquired a new stake in shares of West Pharmaceutical Services in the first quarter worth $25,000. First Horizon Advisors Inc. lifted its stake in shares of West Pharmaceutical Services by 85.0% in the first 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 last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of West Pharmaceutical Services in the first quarter worth $53,000. Whipplewood Advisors LLC increased its position in West Pharmaceutical Services by 248.0% during the first quarter. Whipplewood Advisors LLC now owns 261 shares of the medical instruments supplier's stock worth $58,000 after acquiring an additional 186 shares during the period. Finally, Exchange Traded Concepts LLC increased its position in West Pharmaceutical Services by 38.5% during the first quarter. Exchange Traded Concepts LLC now owns 331 shares of the medical instruments supplier's stock worth $74,000 after acquiring an additional 92 shares during the period. 93.90% of the stock is currently owned by institutional investors and hedge funds.

West Pharmaceutical Services Stock Performance

West Pharmaceutical Services stock traded down $0.04 on Friday, hitting $246.16. The company's stock had a trading volume of 781,012 shares, compared to its average volume of 876,536. The firm has a market cap of $17.70 billion, a P/E ratio of 36.85, a price-to-earnings-growth ratio of 4.36 and a beta of 1.05. The company has a quick ratio of 2.08, a current ratio of 2.78 and a debt-to-equity ratio of 0.07. The company has a fifty day moving average price of $230.05 and a 200-day moving average price of $228.59. West Pharmaceutical Services, Inc. has a one year low of $187.43 and a one year high of $352.33.

West Pharmaceutical Services (NYSE:WST - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The medical instruments supplier reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.33. The firm had revenue of $766.50 million for the quarter, compared to analyst estimates 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 for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.52 EPS. On average, equities analysts anticipate 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. Stockholders of record on Wednesday, November 12th will be paid a $0.22 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $0.88 annualized dividend and a dividend yield of 0.4%. This is a boost from West Pharmaceutical Services's previous quarterly dividend of $0.21. West Pharmaceutical Services's dividend payout ratio is presently 12.57%.

Analysts Set New Price Targets

WST has been the topic of a number of research reports. Citigroup reaffirmed a "buy" rating on shares of West Pharmaceutical Services in a research report on Thursday, May 22nd. Evercore ISI boosted their target price on shares of West Pharmaceutical Services from $275.00 to $350.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Stephens raised shares of West Pharmaceutical Services to a "strong-buy" rating in a research report on Monday, April 21st. Barclays initiated coverage on shares of West Pharmaceutical Services in a research report on Tuesday, June 24th. They set an "equal weight" rating and a $245.00 target price on the stock. Finally, Wall Street Zen raised shares of West Pharmaceutical Services from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $320.71.

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.