Versum Materials Inc. (VSM) Downgraded to Hold at Zacks Investment Research
Zacks Investment Research downgraded shares of Versum Materials Inc. (NYSE:VSM) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.
According to Zacks, “Versum Materials, Inc. is an electronic materials supplier to the semiconductor industry. The company’s primary business segment consists of Materials and Delivery Systems and Services. It provides specialty process gas, cleaners and etchants, slurries, organosilanes and organometallics deposition films and equipment. Versum Materials, Inc. is headquartered in Tempe, Arizona. “
VSM has been the topic of several other reports. Loop Capital initiated coverage on Versum Materials in a report on Thursday, September 28th. They set a buy rating and a $47.00 target price on the stock. Credit Suisse Group lifted their price objective on Versum Materials from $40.00 to $46.00 and gave the stock an outperform rating in a report on Friday, November 10th. KeyCorp restated an overweight rating and set a $4.00 price objective (down from $41.00) on shares of Versum Materials in a report on Friday, November 10th. Jefferies Group LLC restated a hold rating and set a $38.00 price objective on shares of Versum Materials in a report on Thursday, October 19th. Finally, Needham & Company LLC restated a buy rating and set a $45.00 price objective (up from $41.00) on shares of Versum Materials in a report on Friday, November 10th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $36.90.
Shares of Versum Materials (NYSE:VSM) traded down $0.38 during trading hours on Wednesday, hitting $39.82. The company had a trading volume of 304,600 shares, compared to its average volume of 495,880. The stock has a market cap of $4,373.59, a P/E ratio of 21.16, a P/E/G ratio of 1.73 and a beta of 1.62. The company has a current ratio of 3.84, a quick ratio of 2.88 and a debt-to-equity ratio of 39.72. Versum Materials has a 1-year low of $24.27 and a 1-year high of $42.74.
Versum Materials (NYSE:VSM) last announced its earnings results on Thursday, November 9th. The basic materials company reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. The business had revenue of $294.50 million for the quarter, compared to the consensus estimate of $281.39 million. Versum Materials had a negative return on equity of 457.02% and a net margin of 17.13%. The company’s revenue was up 18.6% on a year-over-year basis. During the same period last year, the business posted $0.44 EPS. equities research analysts expect that Versum Materials will post 2.11 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 27th. Shareholders of record on Monday, November 13th will be issued a dividend of $0.05 per share. The ex-dividend date is Friday, November 10th. This represents a $0.20 annualized dividend and a yield of 0.50%. Versum Materials’s dividend payout ratio is presently 11.30%.
In other news, Director Thomas Riordan bought 2,550 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was bought at an average price of $38.90 per share, for a total transaction of $99,195.00. Following the transaction, the director now owns 5,511 shares in the company, valued at $214,377.90. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.49% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp grew its position in shares of Versum Materials by 6.3% in the 2nd quarter. State Street Corp now owns 2,834,415 shares of the basic materials company’s stock worth $92,125,000 after acquiring an additional 168,498 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Versum Materials by 4.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,239,196 shares of the basic materials company’s stock worth $40,272,000 after acquiring an additional 50,211 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Versum Materials by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 8,916,485 shares of the basic materials company’s stock worth $289,786,000 after acquiring an additional 119,507 shares in the last quarter. FMR LLC grew its position in shares of Versum Materials by 27.7% in the 1st quarter. FMR LLC now owns 224,634 shares of the basic materials company’s stock worth $6,874,000 after acquiring an additional 48,724 shares in the last quarter. Finally, Rhumbline Advisers grew its position in shares of Versum Materials by 6.3% in the 2nd quarter. Rhumbline Advisers now owns 201,275 shares of the basic materials company’s stock worth $6,541,000 after acquiring an additional 11,911 shares in the last quarter. Institutional investors own 90.65% 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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