Texas Permanent School Fund Acquires 662 Shares of Versum Materials Inc. (VSM)
Texas Permanent School Fund raised its stake in Versum Materials Inc. (NYSE:VSM) by 0.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 79,344 shares of the basic materials company’s stock after buying an additional 662 shares during the period. Texas Permanent School Fund owned about 0.07% of Versum Materials worth $2,579,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Glen Harbor Capital Management LLC increased its stake in 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 valued at $131,000 after buying an additional 682 shares in the last quarter. Creative Planning increased its stake in Versum Materials by 17.0% in the second quarter. Creative Planning now owns 4,587 shares of the basic materials company’s stock valued at $149,000 after buying an additional 666 shares in the last quarter. Elkfork Partners LLC increased 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 valued at $167,000 after buying an additional 868 shares during the period. Meadow Creek Investment Management LLC increased 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 valued at $203,000 after buying an additional 1,054 shares during the period. Finally, Segall Bryant & Hamill LLC purchased a new position in shares of Versum Materials during the first quarter valued at $203,000. Institutional investors own 89.09% of the company’s stock.
Versum Materials Inc. (NYSE:VSM) traded up 1.47% during mid-day trading on Friday, reaching $35.16. 261,571 shares of the company traded hands. The company has a market capitalization of $3.82 billion and a P/E ratio of 19.86. Versum Materials Inc. has a 52-week low of $21.86 and a 52-week high of $37.40. The stock has a 50 day moving average price of $34.57 and a 200-day moving average price of $31.61.
Versum Materials (NYSE:VSM) last announced its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.08. The business had revenue of $290.80 million for the quarter, compared to the consensus estimate of $265.64 million. Versum Materials had a net margin of 17.91% and a negative return on equity of 261.88%. Versum Materials’s quarterly revenue was up 19.8% on a year-over-year basis. During the same quarter last year, the company posted $0.45 earnings per share. Analysts expect that Versum Materials Inc. will post $1.91 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Monday, August 7th will be paid a $0.05 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $0.20 annualized dividend and a dividend yield of 0.57%.
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Several research analysts have recently weighed in on VSM shares. 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 research note on Wednesday, July 5th. 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 research note on Friday, June 23rd. Credit Suisse Group set a $35.00 target price on shares of Versum Materials and gave the company a “buy” rating in a research note on Wednesday, June 14th. Needham & Company LLC started coverage on shares of Versum Materials in a research note on Monday, July 10th. They issued a “buy” rating and a $38.00 target price for the company. Finally, Jefferies Group LLC restated a “hold” rating and issued a $38.00 target price (up from $34.00) on shares of Versum Materials in a research note on Wednesday, August 2nd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $34.30.
In related news, Director Jacques M. Croisetiere acquired 2,750 shares of the stock in a transaction dated Thursday, August 3rd. The shares were acquired at an average price of $36.00 per share, for a total transaction of $99,000.00. Following the completion of the purchase, the director now owns 8,376 shares in the company, valued at approximately $301,536. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.49% 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.
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