Virginia Retirement Systems ET AL Raises Stake in Versum Materials Inc. (VSM)
Virginia Retirement Systems ET AL raised its stake in Versum Materials Inc. (NYSE:VSM) by 26.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 67,750 shares of the basic materials company’s stock after buying an additional 14,100 shares during the period. Virginia Retirement Systems ET AL owned approximately 0.06% of Versum Materials worth $2,202,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the company. World Asset Management Inc acquired a new position in shares of Versum Materials during the first quarter valued at $227,000. BlackRock Inc. raised its stake in 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. UBS Asset Management Americas Inc. bought a new stake in Versum Materials during the fourth quarter valued at approximately $2,374,000. Iridian Asset Management LLC CT raised its stake in Versum Materials by 7.4% in the first quarter. Iridian Asset Management LLC CT now owns 3,179,707 shares of the basic materials company’s stock valued at $97,299,000 after buying an additional 220,040 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in Versum Materials by 14.6% in the first quarter. Lazard Asset Management LLC now owns 1,405,359 shares of the basic materials company’s stock valued at $43,003,000 after buying an additional 179,436 shares in the last quarter. Institutional investors own 89.60% of the company’s stock.
Versum Materials Inc. (NYSE:VSM) opened at 35.65 on Wednesday. The stock has a market cap of $3.88 billion and a price-to-earnings ratio of 20.14. Versum Materials Inc. has a 12 month low of $21.86 and a 12 month high of $37.40. The stock’s 50 day moving average price is $34.95 and its 200-day moving average price is $31.85.
Versum Materials (NYSE:VSM) last issued its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.08. The company had revenue of $290.80 million for the quarter, compared to analysts’ expectations 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 period last year, the firm earned $0.45 EPS. Equities research analysts predict that Versum Materials Inc. will post $1.91 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Stockholders of record on Monday, August 7th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Thursday, August 3rd.
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Several equities research analysts have commented on VSM shares. Zacks Investment Research lowered Versum Materials from a “buy” rating to a “hold” rating in a research report on Friday, July 7th. Credit Suisse Group set a $40.00 price objective on Versum Materials and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Jefferies Group LLC restated a “hold” rating and issued a $38.00 price objective (up previously from $34.00) on shares of Versum Materials in a research report on Wednesday, August 2nd. Aegis upgraded Versum Materials from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research report on Friday, June 23rd. Finally, Needham & Company LLC started coverage on Versum Materials in a research report on Monday, July 10th. They issued a “buy” rating and a $38.00 price objective on the stock. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $34.30.
In related news, Director Jacques M. Croisetiere acquired 2,750 shares of Versum Materials stock in a transaction dated 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 purchase, the director now directly owns 8,376 shares in the company, valued at approximately $301,536. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.49% of the company’s stock.
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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