First Mercantile Trust Co Lowers stake in West Pharmaceutical Services (WST)

West Pharmaceutical Services (WST) : First Mercantile Trust Co reduced its stake in West Pharmaceutical Services by 22.54% during the most recent quarter end. The investment management company now holds a total of 8,488 shares of West Pharmaceutical Services which is valued at $640,335 after selling 2,470 shares in West Pharmaceutical Services , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.West Pharmaceutical Services makes up approximately 0.09% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Simplex Trading sold out all of its stake in WST during the most recent quarter. The investment firm sold 228 shares of WST which is valued $17,200.Independent Portfolio Consultants reduced its stake in WST by selling 6,270 shares or 53.14% in the most recent quarter. The Hedge Fund company now holds 5,530 shares of WST which is valued at $409,054. West Pharmaceutical Services makes up approx 0.13% of Independent Portfolio Consultants’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in WST by selling 22,226 shares or 76.7% in the most recent quarter. The Hedge Fund company now holds 6,752 shares of WST which is valued at $499,445.

West Pharmaceutical Services opened for trading at $74.8 and hit $75.68 on the upside on Friday, eventually ending the session at $75.44, with a gain of 0.71% or 0.53 points. The heightened volatility saw the trading volume jump to 6,75,234 shares. Company has a market cap of $5,524 M.

On the company’s financial health, West Pharmaceutical Services reported $0.60 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.56. The company had revenue of $388.00 million for the quarter, compared to analysts expectations of $384.58 million. The company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 EPS.

Investors should note that on Sep 12, 2016, West Pharmaceutical Services announced a cash dividend of $0.1300. The company’s management has announced Oct 17, 2016 as the ex-dividend date and fixed the record date on Oct 19, 2016. The payable date has been fixed on Nov 2, 2016.

Many Wall Street Analysts have commented on West Pharmaceutical Services. West Pharmaceutical Services was Downgraded by Wells Fargo to ” Market Perform” on Sep 21, 2016.

West Pharmaceutical Services Inc. is a manufacturer of components and systems for the packaging and delivery of injectable drugs as well as delivery system components for the pharmaceutical healthcare and consumer products industries. The Company’s products include stoppers and seals for vials prefillable syringe components and systems components for intravenous and blood collection systems safety and administration systems advanced injection systems and contract design and manufacturing services. The Company’s customers include producers of pharmaceuticals biologics medical devices and personal care products. The Company’s reportable segments include Pharmaceutical Packaging Systems segment (Packaging Systems) and the Pharmaceutical Delivery Systems segment (Delivery Systems).

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