Kennedy Capital Management Inc. raised its holdings in Versum Materials Inc. (NYSE:VSM) by 108.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 200,738 shares of the basic materials company’s stock after buying an additional 104,558 shares during the period. Kennedy Capital Management Inc. owned about 0.18% of Versum Materials worth $6,524,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in VSM. Pinnacle Financial Partners Inc. bought a new position in shares of Versum Materials in the second quarter valued at $111,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Versum Materials by 12.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,983 shares of the basic materials company’s stock valued at $129,000 after purchasing an additional 428 shares in the last quarter. Glen Harbor Capital Management LLC lifted its position in shares of Versum Materials by 18.9% during the first quarter. Glen Harbor Capital Management LLC now owns 4,290 shares of the basic materials company’s stock valued at $131,000 after purchasing an additional 682 shares in the last quarter. MV Capital Management Inc. lifted its position in shares of Versum Materials by 20.5% during the second quarter. MV Capital Management Inc. now owns 4,379 shares of the basic materials company’s stock valued at $142,000 after purchasing an additional 746 shares in the last quarter. Finally, Creative Planning lifted its position in shares of Versum Materials by 17.0% during the second quarter. Creative Planning now owns 4,587 shares of the basic materials company’s stock valued at $149,000 after purchasing an additional 666 shares in the last quarter. 89.60% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Versum Materials Inc. (NYSE VSM) opened at 37.69 on Wednesday. The stock has a 50 day moving average of $37.40 and a 200-day moving average of $31.73. Versum Materials Inc. has a 52-week low of $21.86 and a 52-week high of $37.90. The stock has a market capitalization of $4.10 billion and a P/E ratio of 21.29.
Versum Materials (NYSE:VSM) last released its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.08. The firm 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 quarterly revenue 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 predict that Versum Materials Inc. will post $1.91 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Investors 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 annualized dividend and a dividend yield of 0.53%.
Several brokerages have commented on VSM. Jefferies Group LLC reaffirmed 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. Needham & Company LLC reiterated a “buy” rating and issued a $41.00 target price on shares of Versum Materials in a research note on Tuesday, September 5th. Zacks Investment Research cut shares of Versum Materials from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. Aegis raised shares of Versum Materials from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research note on Friday, June 23rd. Finally, Credit Suisse Group set a $35.00 price objective on shares of Versum Materials and gave the company a “buy” rating in a research note on Wednesday, June 14th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $34.60.
In related news, Director Jacques M. Croisetiere bought 2,750 shares of the business’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 completion of the purchase, the director now directly owns 8,376 shares of the company’s stock, valued at $301,536. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.49% of the company’s stock.
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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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