Glen Harbor Capital Management LLC trimmed its position in Versum Materials Inc (NYSE:VSM) by 35.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,638 shares of the basic materials company’s stock after selling 6,512 shares during the quarter. Glen Harbor Capital Management LLC’s holdings in Versum Materials were worth $432,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mount Yale Investment Advisors LLC bought a new stake in shares of Versum Materials during the 1st quarter valued at $113,000. Group One Trading L.P. bought a new stake in shares of Versum Materials during the 1st quarter valued at $115,000. Envestnet Asset Management Inc. lifted its position in shares of Versum Materials by 72.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 4,596 shares of the basic materials company’s stock valued at $165,000 after acquiring an additional 1,925 shares during the period. SeaCrest Wealth Management LLC lifted its position in shares of Versum Materials by 615.4% during the 2nd 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 period. Finally, TLP Group LLC lifted its position in shares of Versum Materials by 15,817.1% during the 1st quarter. TLP Group LLC now owns 5,571 shares of the basic materials company’s stock valued at $210,000 after acquiring an additional 5,536 shares during the period. 91.90% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:VSM opened at $36.54 on Friday. The firm has a market cap of $4.00 billion, a PE ratio of 19.13, a P/E/G ratio of 1.21 and a beta of 0.52. The company has a quick ratio of 3.39, a current ratio of 4.43 and a debt-to-equity ratio of 6.20. Versum Materials Inc has a fifty-two week low of $33.06 and a fifty-two week high of $42.74.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 28th. Investors of record on Tuesday, August 14th were given a dividend of $0.06 per share. The ex-dividend date was Monday, August 13th. This represents a $0.24 annualized dividend and a dividend yield of 0.66%. Versum Materials’s dividend payout ratio is currently 12.57%.
In other Versum Materials news, Director Susan C. Schnabel acquired 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The stock was acquired at an average cost of $37.49 per share, for a total transaction of $93,725.00. Following the transaction, the director now directly owns 16,859 shares in the company, valued at $632,043.91. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.49% of the stock is owned by corporate insiders.
A number of analysts have recently weighed in on the company. Zacks Investment Research downgraded Versum Materials from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. Credit Suisse Group upped their target price on Versum Materials from $46.00 to $47.00 and gave the company an “outperform” rating in a research report on Wednesday, August 8th. Finally, KeyCorp upped their target price on Versum Materials from $46.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, September 7th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $46.14.
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. 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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