Versum Materials Inc. (NYSE:VSM) Shares Sold by First Manhattan Co.
First Manhattan Co. reduced its position in shares of Versum Materials Inc. (NYSE:VSM) by 2.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,273 shares of the basic materials company’s stock after selling 800 shares during the period. First Manhattan Co.’s holdings in Versum Materials were worth $918,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Glen Harbor Capital Management LLC raised its stake in shares of Versum Materials by 18.9% in the first quarter. Glen Harbor Capital Management LLC now owns 4,290 shares of the basic materials company’s stock worth $131,000 after buying an additional 682 shares during the last quarter. Creative Planning raised its stake in shares of Versum Materials by 17.0% in the second quarter. Creative Planning now owns 4,587 shares of the basic materials company’s stock worth $149,000 after buying an additional 666 shares during the last quarter. Elkfork Partners LLC raised its stake in shares of Versum Materials by 18.9% in the first quarter. Elkfork Partners LLC now owns 5,460 shares of the basic materials company’s stock worth $167,000 after buying an additional 868 shares during the last quarter. Meadow Creek Investment Management LLC raised its stake in shares of Versum Materials by 18.9% in the first quarter. Meadow Creek Investment Management LLC now owns 6,630 shares of the basic materials company’s stock worth $203,000 after buying an additional 1,054 shares during the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new stake in shares of Versum Materials during the first quarter worth approximately $203,000. 88.60% of the stock is owned by institutional investors and hedge funds.
Versum Materials (NYSE:VSM) last issued its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.08. The company had revenue of $290.80 million during the quarter, compared to analysts’ expectations of $265.64 million. During the same quarter last year, the business earned $0.45 earnings per share. The business’s quarterly revenue was up 19.8% on a year-over-year basis.
The business 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 annualized dividend and a yield of 0.56%.
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A number of analysts recently commented on VSM shares. Zacks Investment Research raised Versum Materials from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Wednesday, July 5th. Aegis raised Versum Materials from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research report on Friday, June 23rd. Credit Suisse Group set a $35.00 target price on Versum Materials and gave the company a “buy” rating in a research report on Wednesday, June 14th. 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 target price for the company. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $38.00 target price (up 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 issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $34.30.
In other Versum Materials news, Director Jacques M. Croisetiere bought 2,750 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was acquired at an average price of $36.00 per share, with a total value of $99,000.00. Following the completion of the purchase, the director now owns 8,376 shares of the company’s stock, valued at $301,536. The acquisition was disclosed in a document filed with the SEC, which is available at 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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