Dai Ichi Life Insurance Company Ltd Invests $2.25 Million in Versum Materials Inc. (VSM)
Dai Ichi Life Insurance Company Ltd bought a new position in Versum Materials Inc. (NYSE:VSM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 69,223 shares of the basic materials company’s stock, valued at approximately $2,250,000. Dai Ichi Life Insurance Company Ltd owned approximately 0.06% of Versum Materials at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the stock. Franklin Resources Inc. lifted its position in shares of Versum Materials by 3.3% in the second quarter. Franklin Resources Inc. now owns 4,713,791 shares of the basic materials company’s stock worth $153,198,000 after buying an additional 149,014 shares in the last quarter. Engineers Gate Manager LP lifted its position in shares of Versum Materials by 11.7% in the second quarter. Engineers Gate Manager LP now owns 59,299 shares of the basic materials company’s stock worth $1,927,000 after buying an additional 6,225 shares in the last quarter. Kennedy Capital Management Inc. lifted its position in shares of Versum Materials by 108.7% in the second quarter. Kennedy Capital Management Inc. now owns 200,738 shares of the basic materials company’s stock worth $6,524,000 after buying an additional 104,558 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its position in shares of Versum Materials by 5.6% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 37,684 shares of the basic materials company’s stock worth $1,225,000 after buying an additional 2,010 shares in the last quarter. Finally, Atlantic Trust Group LLC purchased a new stake in shares of Versum Materials in the second quarter worth about $424,000. Institutional investors own 89.60% of the company’s stock.
A number of equities research analysts recently commented on VSM shares. Aegis upgraded Versum Materials from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research report on Friday, June 23rd. Zacks Investment Research downgraded Versum Materials from a “buy” rating to a “hold” rating in a research report on Friday, July 7th. Credit Suisse Group set a $35.00 price objective on Versum Materials and gave the company a “buy” rating in a research report on Wednesday, June 14th. Needham & Company LLC assumed coverage on Versum Materials in a research report on Monday, July 10th. They set a “buy” rating and a $38.00 price objective on the stock. Finally, Jefferies Group LLC restated a “hold” rating and set a $38.00 price objective (up from $34.00) on shares of Versum Materials in a research report on Wednesday, August 2nd. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $34.60.
In related news, Director Jacques M. Croisetiere bought 2,750 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was bought at an average cost of $36.00 per share, with a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.49% of the company’s stock.
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Shares of Versum Materials Inc. (VSM) opened at 37.90 on Thursday. The company has a 50-day moving average price of $37.54 and a 200 day moving average price of $32.72. Versum Materials Inc. has a 12-month low of $21.86 and a 12-month high of $38.00. The firm has a market capitalization of $4.12 billion and a PE ratio of 21.41.
Versum Materials (NYSE:VSM) last issued its earnings results on Tuesday, August 1st. The basic materials company reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.08. Versum Materials had a net margin of 17.91% and a negative return on equity of 261.88%. The company had revenue of $290.80 million during the quarter, compared to analysts’ expectations of $265.64 million. During the same period last year, the company posted $0.45 earnings per share. The firm’s quarterly revenue was up 19.8% compared to the same quarter last year. On average, equities analysts expect that Versum Materials Inc. will post $1.91 earnings per share for the current year.
The business 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 0.53%.
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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