Creative Planning Boosts Stake in Versum Materials Inc. (NYSE:VSM)
Creative Planning raised its stake in Versum Materials Inc. (NYSE:VSM) by 17.0% during the second quarter, Holdings Channel reports. The institutional investor owned 4,587 shares of the basic materials company’s stock after buying an additional 666 shares during the period. Creative Planning’s holdings in Versum Materials were worth $149,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the company. 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. BlackRock Inc. boosted its stake in shares of 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 valued at $247,043,000 after buying an additional 7,867,760 shares in the last quarter. Highbridge Capital Management LLC acquired a new stake in shares of Versum Materials during the fourth quarter valued at $309,000. Finally, UBS Asset Management Americas Inc. acquired a new stake in shares of Versum Materials during the fourth quarter valued at $2,374,000. Institutional investors own 88.60% of the company’s stock.
Versum Materials Inc. (NYSE:VSM) traded up 0.89% on Friday, reaching $35.23. 348,920 shares of the company’s stock were exchanged. Versum Materials Inc. has a one year low of $21.86 and a one year high of $37.40. The firm has a 50 day moving average price of $34.25 and a 200 day moving average price of $31.36. The firm has a market cap of $3.83 billion and a PE ratio of 19.90.
Versum Materials (NYSE:VSM) last announced 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 analyst estimates of $265.64 million. Versum Materials had a negative return on equity of 261.88% and a net margin of 17.91%. The firm’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.45 EPS. On average, equities 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 will be paid on Monday, August 21st. Shareholders 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 dividend on an annualized basis and a yield of 0.57%.
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Several equities research analysts recently weighed in on VSM shares. Credit Suisse Group set a $33.00 price target on shares of Versum Materials and gave the stock a “buy” rating in a research report on Tuesday, May 2nd. Zacks Investment Research upgraded shares of Versum Materials from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research report on Wednesday, July 5th. Needham & Company LLC started coverage on shares of Versum Materials in a research report on Monday, July 10th. They issued a “buy” rating and a $38.00 price target on the stock. Aegis upgraded shares of Versum Materials from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research report on Friday, June 23rd. Finally, Jefferies Group LLC restated 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 investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Versum Materials has a consensus rating of “Buy” and an average price target of $34.30.
In other news, Director Jacques M. Croisetiere acquired 2,750 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were bought at an average price of $36.00 per share, for a total transaction of $99,000.00. Following the acquisition, the director now owns 8,376 shares of the company’s stock, valued at approximately $301,536. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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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