Versum Materials Inc. (VSM) Position Cut by Federated Investors Inc. PA
Federated Investors Inc. PA cut its position in shares of Versum Materials Inc. (NYSE:VSM) by 29.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 50,385 shares of the basic materials company’s stock after selling 21,119 shares during the period. Federated Investors Inc. PA’s holdings in Versum Materials were worth $1,638,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. World Asset Management Inc purchased a new stake in Versum Materials during the first quarter worth $227,000. BlackRock Inc. boosted its holdings in Versum Materials by 3,827.3% during 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 in the last quarter. Iridian Asset Management LLC CT boosted its holdings in Versum Materials by 7.4% during the first quarter. Iridian Asset Management LLC CT now owns 3,179,707 shares of the basic materials company’s stock worth $97,299,000 after buying an additional 220,040 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in Versum Materials by 14.6% during the first quarter. Lazard Asset Management LLC now owns 1,405,359 shares of the basic materials company’s stock worth $43,003,000 after buying an additional 179,436 shares in the last quarter. Finally, FMR LLC boosted its holdings in Versum Materials by 27.7% during the first quarter. FMR LLC now owns 224,634 shares of the basic materials company’s stock worth $6,874,000 after buying an additional 48,724 shares in the last quarter. 89.60% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on VSM shares. Aegis raised shares of Versum Materials from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a report on Friday, June 23rd. Zacks Investment Research downgraded shares of Versum Materials from a “buy” rating to a “hold” rating in a report on Friday, July 7th. Credit Suisse Group set a $35.00 price target on shares of Versum Materials and gave the stock a “buy” rating in a report on Wednesday, June 14th. Needham & Company LLC started coverage on shares of Versum Materials in a report on Monday, July 10th. They set a “buy” rating and a $38.00 price target on the stock. Finally, Jefferies Group LLC reissued a “hold” rating and set a $38.00 price target (up from $34.00) on shares of Versum Materials in a report on Wednesday, August 2nd. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Versum Materials currently has an average rating of “Buy” and an average target price of $34.60.
Versum Materials Inc. (NYSE:VSM) opened at 37.40 on Tuesday. The firm’s 50-day moving average is $35.82 and its 200-day moving average is $32.33. Versum Materials Inc. has a 52-week low of $21.86 and a 52-week high of $37.88. The firm has a market capitalization of $4.07 billion and a PE ratio of 21.13.
Versum Materials (NYSE:VSM) last posted 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. Versum Materials had a net margin of 17.91% and a negative return on equity of 261.88%. The firm had revenue of $290.80 million for the quarter, compared to analyst estimates of $265.64 million. During the same period last year, the firm posted $0.45 EPS. Versum Materials’s quarterly revenue was up 19.8% on a year-over-year basis. On average, analysts anticipate that Versum Materials Inc. will post $1.91 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Investors of record on Monday, August 7th were given a $0.05 dividend. The ex-dividend date was Thursday, August 3rd. This represents a $0.20 dividend on an annualized basis and a yield of 0.53%.
In other news, Director Jacques M. Croisetiere acquired 2,750 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 8,376 shares in the company, valued at approximately $301,536. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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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