Versum Materials Inc. (NYSE:VSM) posted its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.08, Bloomberg Earnings reports. 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 the consensus estimate of $265.64 million. During the same period in the prior year, the business posted $0.45 EPS. The company’s quarterly revenue was up 19.8% on a year-over-year basis.
Versum Materials (VSM) opened at 35.16 on Friday. The firm has a 50-day moving average of $34.57 and a 200-day moving average of $31.61. Versum Materials has a 1-year low of $21.86 and a 1-year high of $37.40. The stock has a market capitalization of $3.82 billion and a PE ratio of 19.86.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 21st. Investors of record on Monday, August 7th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Thursday, August 3rd.
In other Versum Materials news, Director Jacques M. Croisetiere acquired 2,750 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The shares were bought at an average price 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.49% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its position in Versum Materials by 12.0% in the second quarter. BlackRock Inc. now owns 9,045,328 shares of the basic materials company’s stock valued at $293,975,000 after buying an additional 972,001 shares during the period. Vanguard Group Inc. increased its position in Versum Materials by 1.4% in the second quarter. Vanguard Group Inc. now owns 8,916,485 shares of the basic materials company’s stock valued at $289,786,000 after buying an additional 119,507 shares during the period. Franklin Resources Inc. increased its position in 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 valued at $153,198,000 after buying an additional 149,014 shares during the period. Shapiro Capital Management LLC increased its position in Versum Materials by 4.7% in the second quarter. Shapiro Capital Management LLC now owns 4,433,838 shares of the basic materials company’s stock valued at $144,100,000 after buying an additional 199,500 shares during the period. Finally, Iridian Asset Management LLC CT increased its position in Versum Materials by 38.8% in the second quarter. Iridian Asset Management LLC CT now owns 4,413,786 shares of the basic materials company’s stock valued at $143,448,000 after buying an additional 1,234,079 shares during the period. 89.09% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Versum Materials from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research note on Wednesday, August 2nd. Needham & Company LLC assumed coverage on shares of Versum Materials in a report on Monday, July 10th. They set a “buy” rating and a $38.00 target price on the stock. 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. Aegis raised shares of Versum Materials from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research note on Friday, June 23rd. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $38.00 price objective (up from $34.00) on shares of Versum Materials in a research note on Wednesday, August 2nd. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $34.30.
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About Versum Materials
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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