Glenview Trust Co acquired a new stake in Versum Materials (NYSE:VSM) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 29,394 shares of the basic materials company’s stock, valued at approximately $1,107,000.
Other hedge funds have also recently made changes to their positions in the company. Diamond Hill Capital Management Inc. acquired a new stake in shares of Versum Materials in the 1st quarter worth $8,850,000. Alps Advisors Inc. increased its stake in shares of Versum Materials by 97.5% in the 1st quarter. Alps Advisors Inc. now owns 12,202 shares of the basic materials company’s stock worth $459,000 after acquiring an additional 6,024 shares during the last quarter. Armstrong Henry H Associates Inc. increased its stake in shares of Versum Materials by 9.7% in the 1st quarter. Armstrong Henry H Associates Inc. now owns 44,884 shares of the basic materials company’s stock worth $1,724,000 after acquiring an additional 3,960 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Versum Materials by 44.0% in the 1st quarter. SG Americas Securities LLC now owns 80,683 shares of the basic materials company’s stock worth $3,036,000 after acquiring an additional 24,663 shares during the last quarter. Finally, Boston Partners increased its stake in shares of Versum Materials by 87.4% in the 1st quarter. Boston Partners now owns 3,726,695 shares of the basic materials company’s stock worth $140,235,000 after acquiring an additional 1,737,773 shares during the last quarter. Institutional investors own 91.22% of the company’s stock.
A number of analysts have issued reports on the company. Zacks Investment Research raised Versum Materials from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research report on Friday, May 11th. Argus raised Versum Materials from a “hold” rating to a “buy” rating in a research report on Monday, May 14th. Jefferies Financial Group raised Versum Materials from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Monday, March 26th. Finally, Credit Suisse Group raised their price objective on Versum Materials from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 9th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Versum Materials has an average rating of “Buy” and a consensus target price of $39.38.
Shares of NYSE:VSM traded down $0.07 during midday trading on Friday, reaching $38.98. 14,767 shares of the company’s stock were exchanged, compared to its average volume of 419,268. The company has a current ratio of 5.09, a quick ratio of 3.78 and a debt-to-equity ratio of 7.69. The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 1.27 and a beta of 0.46. Versum Materials has a fifty-two week low of $31.35 and a fifty-two week high of $42.74.
Versum Materials (NYSE:VSM) last released its earnings results on Tuesday, May 8th. The basic materials company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.07. The company had revenue of $340.70 million during the quarter, compared to the consensus estimate of $312.84 million. Versum Materials had a return on equity of 459.92% and a net margin of 14.12%. Versum Materials’s revenue was up 25.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.44 EPS. equities research analysts predict that Versum Materials will post 2.35 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, May 29th. Shareholders of record on Tuesday, May 15th were given a $0.06 dividend. This is an increase from Versum Materials’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 0.62%. The ex-dividend date was Monday, May 14th. Versum Materials’s payout ratio is currently 12.57%.
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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