Bank of America Corp DE Has $16.27 Million Stake in Versum Materials Inc. (NYSE:VSM)
Bank of America Corp DE decreased its position in Versum Materials Inc. (NYSE:VSM) by 28.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 531,779 shares of the basic materials company’s stock after selling 212,808 shares during the period. Bank of America Corp DE owned about 0.49% of Versum Materials worth $16,272,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the company. High Point Bank & Trust Co. acquired a new position in shares of Versum Materials during the fourth quarter worth $100,000. Glen Harbor Capital Management LLC boosted its position in shares of Versum Materials by 18.9% in the first quarter. Glen Harbor Capital Management LLC now owns 4,290 shares of the basic materials company’s stock worth $131,000 after buying an additional 682 shares during the period. Elkfork Partners LLC boosted its position in shares of Versum Materials by 18.9% in the first quarter. Elkfork Partners LLC now owns 5,460 shares of the basic materials company’s stock worth $167,000 after buying an additional 868 shares during the period. Meadow Creek Investment Management LLC boosted its position in shares of Versum Materials by 18.9% in the first quarter. Meadow Creek Investment Management LLC now owns 6,630 shares of the basic materials company’s stock worth $203,000 after buying an additional 1,054 shares during the period. Finally, Segall Bryant & Hamill LLC purchased a new position in Versum Materials during the first quarter valued at approximately $203,000. 88.60% of the stock is currently owned by institutional investors.
Shares of Versum Materials Inc. (NYSE VSM) traded down 0.28% during trading on Tuesday, hitting $36.09. 413,335 shares of the stock were exchanged. The stock has a 50-day moving average of $33.70 and a 200 day moving average of $31.06. The stock has a market cap of $3.93 billion and a P/E ratio of 20.39. Versum Materials Inc. has a 12-month low of $21.86 and a 12-month high of $37.40.
Versum Materials (NYSE:VSM) last issued its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.08. The company had revenue of $290.80 million for the quarter, compared to the consensus estimate of $265.64 million. During the same quarter in the prior year, the firm earned $0.45 earnings per share. Versum Materials’s revenue for the quarter was up 19.8% compared to the same quarter last year. Equities analysts predict that Versum Materials Inc. will post $1.85 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 21st. Shareholders of record on Monday, August 7th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Thursday, August 3rd.
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VSM has been the subject of several analyst reports. Credit Suisse Group set a $33.00 price target on shares of Versum Materials and gave the stock a “buy” rating in a report on Tuesday, May 2nd. Zacks Investment Research cut shares of Versum Materials from a “buy” rating to a “hold” rating in a report on Saturday, May 6th. Aegis upgraded shares of Versum Materials from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a report on Friday, June 23rd. Needham & Company LLC initiated coverage on shares of Versum Materials in a report on Monday, July 10th. They issued a “buy” rating and a $38.00 target price for the company. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $38.00 price target (up previously from $34.00) on shares of Versum Materials in a research report on Wednesday, August 2nd. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $34.30.
In other Versum Materials news, Director Jacques M. Croisetiere purchased 2,750 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were purchased at an average cost of $36.00 per share, for a total transaction of $99,000.00. Following the completion of the transaction, the director now owns 8,376 shares in the company, valued at $301,536. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.49% of the stock is currently owned by insiders.
Versum Materials Company Profile
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.
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