Versum Materials Inc. (VSM) Stake Decreased by Boston Partners
Boston Partners cut its stake in Versum Materials Inc. (NYSE:VSM) by 24.3% during the second quarter, Holdings Channel reports. The firm owned 1,977,435 shares of the basic materials company’s stock after selling 633,417 shares during the period. Boston Partners’ holdings in Versum Materials were worth $64,267,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP acquired a new stake in shares of Versum Materials during the fourth quarter valued at approximately $5,440,000. UBS Asset Management Americas Inc. acquired a new stake in shares of Versum Materials during the fourth quarter valued at approximately $2,374,000. Teachers Advisors LLC acquired a new stake in shares of Versum Materials during the fourth quarter valued at approximately $2,558,000. Highbridge Capital Management LLC acquired a new stake in shares of Versum Materials during the fourth quarter valued at approximately $309,000. Finally, Heritage Investors Management Corp boosted its stake in shares of Versum Materials by 38.4% in the first quarter. Heritage Investors Management Corp now owns 86,429 shares of the basic materials company’s stock valued at $2,645,000 after buying an additional 23,979 shares during the period. 88.60% of the stock is owned by institutional investors and hedge funds.
Shares of Versum Materials Inc. (NYSE VSM) opened at 35.23 on Friday. Versum Materials Inc. has a 52-week low of $21.86 and a 52-week high of $37.40. The firm has a market cap of $3.83 billion and a PE ratio of 19.90. The company’s 50-day moving average price is $34.25 and its 200-day moving average price is $31.36.
Versum Materials (NYSE:VSM) last announced 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 firm had revenue of $290.80 million during the quarter, compared to analyst estimates of $265.64 million. Versum Materials had a net margin of 17.91% and a negative return on equity of 261.88%. The company’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.45 EPS. Equities analysts expect that Versum Materials Inc. will post $1.91 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 21st. Investors of record on Monday, August 7th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Thursday, August 3rd.
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Several analysts have recently commented on VSM shares. Credit Suisse Group set a $33.00 target price on Versum Materials and gave the stock a “buy” rating in a research report on Tuesday, May 2nd. Zacks Investment Research cut Versum Materials from a “buy” rating to a “hold” rating in a research report on Saturday, May 6th. 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. 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 previously from $34.00) on shares of Versum Materials in a research report on Wednesday, August 2nd. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $34.30.
In related news, Director Jacques M. Croisetiere bought 2,750 shares of Versum Materials stock in a transaction that occurred on Thursday, August 3rd. The stock was purchased at an average cost of $36.00 per share, with a total value of $99,000.00. Following the purchase, the director now owns 8,376 shares in the company, valued at $301,536. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.49% of the stock is currently owned by corporate insiders.
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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