State of Wisconsin Investment Board grew its stake in Versum Materials Inc. (NYSE:VSM) by 10.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,661 shares of the basic materials company’s stock after acquiring an additional 2,100 shares during the quarter. State of Wisconsin Investment Board’s holdings in Versum Materials were worth $704,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. World Asset Management Inc bought a new stake in shares of Versum Materials in the 1st quarter valued at about $227,000. BlackRock Inc. increased its stake in shares of Versum Materials by 3,827.3% in the 1st quarter. BlackRock Inc. now owns 8,073,327 shares of the basic materials company’s stock valued at $247,043,000 after acquiring an additional 7,867,760 shares during the last quarter. Iridian Asset Management LLC CT increased its stake in shares of Versum Materials by 7.4% in the 1st 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 acquiring an additional 220,040 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of Versum Materials by 14.6% in the 1st quarter. Lazard Asset Management LLC now owns 1,405,359 shares of the basic materials company’s stock valued at $43,003,000 after acquiring an additional 179,436 shares during the last quarter. Finally, FMR LLC increased its stake 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 valued at $6,874,000 after acquiring an additional 48,724 shares during the last quarter. 89.60% of the stock is owned by institutional investors.
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Several equities analysts recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $41.00 price objective on shares of Versum Materials in a research report on Tuesday, September 5th. Jefferies Group LLC reiterated a “hold” rating and issued a $38.00 price objective (up from $34.00) on shares of Versum Materials in a research report on Wednesday, August 2nd. Credit Suisse Group set a $40.00 price objective on Versum Materials and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Zacks Investment Research upgraded Versum Materials from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Wednesday, August 2nd. Finally, Aegis upgraded Versum Materials from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Friday, June 23rd. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Versum Materials has an average rating of “Buy” and an average price target of $34.60.
Versum Materials Inc. (NYSE:VSM) opened at 37.20 on Monday. Versum Materials Inc. has a 12 month low of $21.86 and a 12 month high of $37.51. The company has a 50 day moving average price of $35.82 and a 200 day moving average price of $32.33. The firm has a market capitalization of $4.05 billion and a price-to-earnings ratio of 21.02.
Versum Materials (NYSE:VSM) last issued its earnings results on Tuesday, August 1st. The basic materials company reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.08. The business had revenue of $290.80 million during the quarter, compared to the consensus estimate 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 in the previous year, the company posted $0.45 earnings per share. Analysts anticipate that Versum Materials Inc. will post $1.91 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 21st. Shareholders of record on Monday, August 7th were issued 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 0.54%.
In other Versum Materials news, Director Jacques M. Croisetiere bought 2,750 shares of the stock in a transaction on Thursday, August 3rd. The stock was acquired at an average cost of $36.00 per share, for a total transaction of $99,000.00. Following the completion of the acquisition, the director now owns 8,376 shares in the company, valued at approximately $301,536. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.49% of the company’s stock.
Versum Materials 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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