Mitsubishi UFJ Asset Management Co. Ltd. Has $31.99 Million Holdings in West Pharmaceutical Services, Inc. (NYSE:WST)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in West Pharmaceutical Services by 11.0%, owning 142,885 shares valued at approximately $32 million as of its latest SEC filing.
• West Pharmaceutical Services reported $1.84 earnings per share (EPS) for the last quarter, exceeding analysts' expectations of $1.51, and achieved a year-over-year revenue growth of 9.2%.
• The company announced a quarterly dividend of $0.22 per share, marking an increase from its previous dividend of $0.21, with a dividend yield of 0.4%.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of West Pharmaceutical Services, Inc. (NYSE:WST - Free Report) by 11.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 142,885 shares of the medical instruments supplier's stock after acquiring an additional 14,207 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.20% of West Pharmaceutical Services worth $31,989,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. DAVENPORT & Co LLC increased its stake in shares of West Pharmaceutical Services by 103.8% in the 1st quarter. DAVENPORT & Co LLC now owns 2,230 shares of the medical instruments supplier's stock worth $499,000 after acquiring an additional 1,136 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of West Pharmaceutical Services by 34.7% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 5,581 shares of the medical instruments supplier's stock valued at $1,249,000 after buying an additional 1,437 shares during the period. Bessemer Group Inc. boosted its stake in shares of West Pharmaceutical Services by 43.7% in the 1st quarter. Bessemer Group Inc. now owns 1,075 shares of the medical instruments supplier's stock valued at $241,000 after buying an additional 327 shares during the period. Sivik Global Healthcare LLC acquired a new stake in shares of West Pharmaceutical Services during the 1st quarter worth about $2,799,000. Finally, State of Alaska Department of Revenue raised its position in shares of West Pharmaceutical Services by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 8,486 shares of the medical instruments supplier's stock worth $1,899,000 after acquiring an additional 225 shares in the last quarter. Hedge funds and other institutional investors own 93.90% of the company's stock.

Wall Street Analysts Forecast Growth

WST has been the topic of a number of recent research reports. UBS Group boosted their target price on West Pharmaceutical Services from $285.00 to $320.00 and gave the company a "buy" rating in a report on Friday, July 25th. Stephens upgraded West Pharmaceutical Services to a "strong-buy" rating in a research report on Monday, April 21st. Barclays assumed coverage on West Pharmaceutical Services in a report on Tuesday, June 24th. They issued an "equal weight" rating and a $245.00 price target for the company. Evercore ISI upped their price target on West Pharmaceutical Services from $275.00 to $350.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Finally, Wall Street Zen upgraded West Pharmaceutical Services from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $320.71.

West Pharmaceutical Services Stock Down 0.2%

Shares of West Pharmaceutical Services stock traded down $0.38 during midday trading on Friday, hitting $245.83. The company's stock had a trading volume of 164,924 shares, compared to its average volume of 850,329. The firm has a market capitalization of $17.68 billion, a P/E ratio of 36.80, a PEG ratio of 4.36 and a beta of 1.05. West Pharmaceutical Services, Inc. has a 1-year low of $187.43 and a 1-year high of $352.33. 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 stock has a 50-day simple moving average of $229.61 and a 200-day simple moving average of $230.03.

West Pharmaceutical Services (NYSE:WST - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The medical instruments supplier reported $1.84 EPS for the quarter, topping analysts' consensus estimates of $1.51 by $0.33. West Pharmaceutical Services had a return on equity of 18.43% and a net margin of 16.48%. The business had revenue of $766.50 million for the quarter, compared to analyst estimates of $725.11 million. During the same period in the previous year, the company posted $1.52 earnings per share. The firm's revenue for the quarter was up 9.2% on a year-over-year basis. As a group, sell-side analysts expect that West Pharmaceutical Services, Inc. will post 6.62 earnings per share for the current year.

West Pharmaceutical Services Increases Dividend

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

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.