Citigroup Inc. Sells 26,793 Shares of West Pharmaceutical Services, Inc. (NYSE:WST)

Citigroup Inc. lowered its stake in shares of West Pharmaceutical Services, Inc. (NYSE:WST) by 32.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 57,022 shares of the medical instruments supplier’s stock after selling 26,793 shares during the quarter. Citigroup Inc. owned approximately 0.08% of West Pharmaceutical Services worth $17,116,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. LGT Group Foundation bought a new stake in shares of West Pharmaceutical Services during the second quarter valued at approximately $68,854,000. Liontrust Investment Partners LLP bought a new position in West Pharmaceutical Services in the 2nd quarter valued at $64,196,000. Sei Investments Co. increased its stake in shares of West Pharmaceutical Services by 12.7% in the 2nd quarter. Sei Investments Co. now owns 401,026 shares of the medical instruments supplier’s stock valued at $132,095,000 after buying an additional 45,208 shares during the period. Canada Pension Plan Investment Board raised its position in shares of West Pharmaceutical Services by 25.0% during 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 last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of West Pharmaceutical Services by 6.8% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 593,692 shares of the medical instruments supplier’s stock valued at $195,556,000 after acquiring an additional 37,702 shares during the period. Institutional investors and hedge funds own 93.90% of the company’s stock.

Insider Buying and Selling

In related news, VP Charles Witherspoon sold 703 shares of West Pharmaceutical Services stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $310.40, for a total transaction of $218,211.20. Following the transaction, the vice president now owns 1,253 shares of the company’s stock, valued at $388,931.20. This trade represents a 35.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is owned by insiders.

West Pharmaceutical Services Price Performance

Shares of WST stock opened at $323.32 on Thursday. The firm has a market cap of $23.41 billion, a price-to-earnings ratio of 47.97, a PEG ratio of 24.15 and a beta of 1.00. West Pharmaceutical Services, Inc. has a 12 month low of $265.00 and a 12 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 stock has a 50-day moving average price of $307.93 and a 200 day moving average price of $313.27.

West Pharmaceutical Services (NYSE:WST) last posted its quarterly earnings results on Thursday, October 24th. The medical instruments supplier reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.35. West Pharmaceutical Services had a net margin of 17.37% and a return on equity of 18.41%. 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 firm posted $2.16 earnings per share. West Pharmaceutical Services’s revenue for the quarter was down .1% compared to the same quarter last year. Research analysts expect that West Pharmaceutical Services, Inc. will post 6.67 EPS for the current year.

West Pharmaceutical Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Wednesday, November 13th were given a $0.21 dividend. This is a positive change from West Pharmaceutical Services’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.26%. The ex-dividend date was Wednesday, November 13th. West Pharmaceutical Services’s dividend payout ratio (DPR) is currently 12.46%.

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.