Keybank National Association OH trimmed its position in shares of Versum Materials Inc (NYSE:VSM) by 34.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,559 shares of the basic materials company’s stock after selling 3,510 shares during the period. Keybank National Association OH’s holdings in Versum Materials were worth $236,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in VSM. Boston Partners lifted its stake in Versum Materials by 23.0% during the second quarter. Boston Partners now owns 4,584,931 shares of the basic materials company’s stock worth $170,330,000 after purchasing an additional 858,236 shares in the last quarter. Vulcan Value Partners LLC acquired a new position in Versum Materials during the second quarter worth $20,762,000. Victory Capital Management Inc. lifted its stake in Versum Materials by 53.1% during the third quarter. Victory Capital Management Inc. now owns 1,310,884 shares of the basic materials company’s stock worth $47,206,000 after purchasing an additional 454,870 shares in the last quarter. Mesirow Financial Investment Management Equity Management acquired a new position in Versum Materials during the third quarter worth $12,473,000. Finally, Millennium Management LLC lifted its stake in Versum Materials by 60.6% during the second quarter. Millennium Management LLC now owns 598,860 shares of the basic materials company’s stock worth $22,248,000 after purchasing an additional 225,982 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.
VSM has been the topic of a number of research reports. Loop Capital set a $42.00 price target on Versum Materials and gave the stock a “hold” rating in a research note on Friday, November 23rd. Zacks Investment Research raised Versum Materials from a “sell” rating to a “hold” rating in a research report on Saturday, November 10th. Credit Suisse Group upped their price objective on Versum Materials from $46.00 to $47.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 8th. KeyCorp upped their price objective on Versum Materials from $46.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday, September 7th. Finally, ValuEngine lowered Versum Materials from a “hold” rating to a “sell” rating in a research report on Thursday, October 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $46.33.
Versum Materials (NYSE:VSM) last posted its quarterly earnings data on Tuesday, November 6th. The basic materials company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. Versum Materials had a return on equity of 185.48% and a net margin of 14.39%. The business had revenue of $350.80 million for the quarter, compared to analyst estimates of $329.43 million. During the same quarter in the prior year, the company earned $0.47 earnings per share. The company’s revenue was up 19.1% on a year-over-year basis. Analysts predict that Versum Materials Inc will post 2.48 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 27th. Stockholders of record on Tuesday, November 13th were given a dividend of $0.08 per share. The ex-dividend date was Friday, November 9th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.92%. This is a positive change from Versum Materials’s previous quarterly dividend of $0.06. Versum Materials’s dividend payout ratio is currently 13.62%.
In other Versum Materials news, Director Seifi Ghasemi bought 20,000 shares of the company’s stock in a transaction that occurred on Monday, November 12th. The shares were purchased at an average price of $33.41 per share, with a total value of $668,200.00. Following the completion of the acquisition, the director now directly owns 204,280 shares of the company’s stock, valued at approximately $6,824,994.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan C. Schnabel bought 2,500 shares of the company’s stock in a transaction that occurred on Friday, November 9th. The stock was acquired at an average cost of $33.85 per share, for a total transaction of $84,625.00. Following the acquisition, the director now directly owns 18,870 shares of the company’s stock, valued at $638,749.50. The disclosure for this purchase can be found here. 0.49% of the stock is currently owned by corporate insiders.
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Versum Materials Company Profile
Versum Materials, Inc develops, manufactures, transports, and handles specialty materials for the semiconductor and display industries in the United States, Taiwan, South Korea, China, Europe, and rest of Asia. It operates in two segments, Materials, and Delivery Systems and Services (DS&S). The Materials segment provides specialty chemicals and materials used in semiconductors, as well as specialty gases used in the semiconductor manufacturing process, including high purity process materials for deposition, metallization, and chamber cleaning and etching; chemicals mechanical planarization slurries; organosilanes; organometallics and liquid dopants for thin film deposition; and formulated chemical products for post-etch cleaning primarily for the manufacture of silicon and compound semiconductors, and thin film transistor liquid crystal displays.
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