Great Lakes Advisors LLC increased its position in shares of Versum Materials Inc (NYSE:VSM) by 28.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 113,562 shares of the basic materials company’s stock after purchasing an additional 24,845 shares during the period. Great Lakes Advisors LLC owned 0.10% of Versum Materials worth $4,089,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the stock. SeaCrest Wealth Management LLC lifted its position in Versum Materials by 615.4% in the second quarter. SeaCrest Wealth Management LLC now owns 4,471 shares of the basic materials company’s stock valued at $166,000 after acquiring an additional 3,846 shares during the last quarter. Rehmann Capital Advisory Group lifted its position in Versum Materials by 2,469.1% in the third quarter. Rehmann Capital Advisory Group now owns 8,966 shares of the basic materials company’s stock valued at $249,000 after acquiring an additional 8,617 shares during the last quarter. Oakbrook Investments LLC lifted its position in Versum Materials by 30.7% in the third quarter. Oakbrook Investments LLC now owns 7,450 shares of the basic materials company’s stock valued at $268,000 after acquiring an additional 1,750 shares during the last quarter. Piedmont Investment Advisors Inc. purchased a new stake in Versum Materials in the third quarter valued at $283,000. Finally, Tower Research Capital LLC TRC lifted its position in Versum Materials by 66.0% in the third quarter. Tower Research Capital LLC TRC now owns 9,491 shares of the basic materials company’s stock valued at $342,000 after acquiring an additional 3,774 shares during the last quarter. Hedge funds and other institutional investors own 91.94% of the company’s stock.
In other Versum Materials news, Director Susan C. Schnabel bought 2,500 shares of Versum Materials stock in a transaction dated Friday, November 9th. The stock was acquired at an average cost of $33.85 per share, with a total value of $84,625.00. Following the completion of the acquisition, the director now owns 18,870 shares of the company’s stock, valued at $638,749.50. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Seifi Ghasemi bought 20,000 shares of Versum Materials stock in a transaction dated Monday, November 12th. The stock was acquired at an average cost 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 disclosure for this purchase can be found here. 0.55% of the stock is currently owned by corporate insiders.
Versum Materials (NYSE:VSM) last announced its earnings results on Tuesday, November 6th. The basic materials company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. Versum Materials had a net margin of 14.39% and a return on equity of 185.48%. The business had revenue of $350.80 million during the quarter, compared to analysts’ expectations of $329.43 million. During the same period in the prior year, the company earned $0.47 earnings per share. The business’s revenue was up 19.1% compared to the same quarter last year. As a group, sell-side analysts predict that Versum Materials Inc will post 2.48 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 27th. Stockholders of record on Tuesday, November 13th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.90%. This is a boost from Versum Materials’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Friday, November 9th. Versum Materials’s dividend payout ratio is presently 13.62%.
A number of brokerages recently weighed in on VSM. Credit Suisse Group boosted their price target on shares of Versum Materials from $46.00 to $47.00 and gave the company an “outperform” rating in a research report on Wednesday, August 8th. KeyCorp boosted their price target on shares of Versum Materials from $46.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, September 7th. Zacks Investment Research cut shares of Versum Materials from a “hold” rating to a “sell” rating in a research report on Friday, October 19th. Loop Capital set a $42.00 price target on shares of Versum Materials and gave the company a “hold” rating in a research report on Friday, November 23rd. Finally, ValuEngine cut shares of Versum Materials from a “hold” rating to a “sell” rating in a research report on Thursday, October 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $46.33.
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About Versum Materials
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. The company operates through two segments, Materials, and Delivery Systems and Services (DS&S).
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