Needham & Company LLC assumed coverage on shares of Versum Materials Inc. (NYSE:VSM) in a research report sent to investors on Monday, July 10th, Marketbeat.com reports. The firm issued a buy rating and a $38.00 target price on the basic materials company’s stock.

Other analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Versum Materials from a hold rating to a buy rating and set a $36.00 target price for the company in a report on Wednesday, July 5th. Aegis raised shares of Versum Materials from a hold rating to a buy rating and set a $39.00 price objective for the company in a research note on Friday, June 23rd. Finally, Credit Suisse Group set a $35.00 price objective on shares of Versum Materials and gave the stock a buy rating in a research note on Wednesday, June 14th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has an average rating of Buy and an average price target of $34.30.

Versum Materials (NYSE:VSM) traded up 1.34% during trading on Monday, reaching $36.19. The company had a trading volume of 365,561 shares. The firm has a market capitalization of $3.94 billion and a price-to-earnings ratio of 20.45. Versum Materials has a 52 week low of $21.86 and a 52 week high of $37.40. The company’s 50-day moving average is $33.29 and its 200 day moving average is $30.95.

Versum Materials (NYSE:VSM) last announced its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.44 by $0.08. The firm had revenue of $290.80 million during the quarter, compared to analyst estimates of $265.64 million. During the same quarter in the previous year, the business posted $0.45 EPS. Versum Materials’s revenue for the quarter was up 19.8% compared to the same quarter last year. Equities analysts anticipate that Versum Materials will post $1.85 EPS for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Monday, August 21st. Investors of record on Monday, August 7th will be issued a $0.05 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $0.20 annualized dividend and a yield of 0.55%.

In related news, Director Jacques M. Croisetiere purchased 2,750 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were bought at an average cost of $36.00 per share, for a total transaction of $99,000.00. Following the transaction, the director now directly owns 8,376 shares of the company’s stock, valued at approximately $301,536. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.49% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP acquired a new stake in shares of Versum Materials during the fourth quarter valued at $5,440,000. World Asset Management Inc acquired a new stake in shares of Versum Materials during the first quarter valued at $227,000. Janus Capital Management LLC purchased a new position in Versum Materials during the fourth quarter worth approximately $227,000. Highbridge Capital Management LLC purchased a new position in Versum Materials during the fourth quarter worth approximately $309,000. Finally, BlackRock Inc. raised its position in Versum Materials by 3,827.3% in the first quarter. BlackRock Inc. now owns 8,073,327 shares of the basic materials company’s stock worth $247,043,000 after buying an additional 7,867,760 shares during the period. Institutional investors and hedge funds own 88.60% of the company’s stock.

About Versum Materials

Versum Materials, Inc is a provider of solutions to the semiconductor and display industries. The Company is engaged in the development, manufacturing, transportation and handling of specialty materials. Its segments include Materials; Delivery Systems and Services (DS&S), and Corporate. The Materials segment is an integrated provider of specialty materials for the electronics industry, focusing on the integrated circuit and flat-panel display markets.

Analyst Recommendations for Versum Materials (NYSE:VSM)

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