Balyasny Asset Management LLC Acquires Shares of 6,800 Versum Materials Inc. (VSM)
Balyasny Asset Management LLC acquired a new position in shares of Versum Materials Inc. (NYSE:VSM) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,800 shares of the basic materials company’s stock, valued at approximately $221,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Alliancebernstein L.P. increased its stake in shares of Versum Materials by 120.3% in the first quarter. Alliancebernstein L.P. now owns 142,540 shares of the basic materials company’s stock worth $4,362,000 after purchasing an additional 77,828 shares in the last quarter. OppenheimerFunds Inc. purchased a new position in shares of Versum Materials in the first quarter worth about $254,000. Principal Financial Group Inc. increased its stake in shares of Versum Materials by 2.5% in the first quarter. Principal Financial Group Inc. now owns 437,963 shares of the basic materials company’s stock worth $13,402,000 after purchasing an additional 10,528 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Versum Materials by 17.5% in the first quarter. Wellington Management Group LLP now owns 66,347 shares of the basic materials company’s stock worth $2,030,000 after purchasing an additional 9,902 shares in the last quarter. Finally, FMR LLC increased its stake in shares of Versum Materials by 27.7% in the first quarter. FMR LLC now owns 224,634 shares of the basic materials company’s stock worth $6,874,000 after purchasing an additional 48,724 shares in the last quarter. Institutional investors and hedge funds own 89.60% of the company’s stock.
In related news, Director Jacques M. Croisetiere acquired 2,750 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was acquired at an average cost of $36.00 per share, with a total value of $99,000.00. Following the acquisition, the director now directly owns 8,376 shares in the company, valued at approximately $301,536. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.49% of the company’s stock.
Several equities analysts have recently weighed in on the stock. Jefferies Group LLC reiterated a “hold” rating and issued a $38.00 target price on shares of Versum Materials in a research note on Thursday. Zacks Investment Research downgraded shares of Versum Materials from a “buy” rating to a “hold” rating in a research note on Wednesday. ValuEngine downgraded shares of Versum Materials from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Loop Capital assumed coverage on shares of Versum Materials in a research note on Thursday, September 28th. They issued a “buy” rating and a $47.00 target price for the company. Finally, Stifel Nicolaus assumed coverage on shares of Versum Materials in a research note on Wednesday, September 20th. They issued a “hold” rating and a $42.00 target price for the company. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $38.20.
Shares of Versum Materials Inc. (NYSE VSM) opened at 39.69 on Friday. The firm’s 50-day moving average is $38.35 and its 200 day moving average is $34.14. Versum Materials Inc. has a 12 month low of $22.17 and a 12 month high of $40.46. The company has a market capitalization of $4.32 billion and a price-to-earnings ratio of 22.42.
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, 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 business had revenue of $290.80 million during the quarter, compared to analyst estimates of $265.64 million. During the same period last year, the firm posted $0.45 EPS. The company’s revenue was up 19.8% on a year-over-year basis. Equities analysts expect that Versum Materials Inc. will post $1.91 EPS for the current year.
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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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