Fiduciary Trust Co. trimmed its position in shares of Versum Materials Inc. (NYSE:VSM) by 36.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,947 shares of the basic materials company’s stock after selling 6,863 shares during the period. Fiduciary Trust Co.’s holdings in Versum Materials were worth $388,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Los Angeles Capital Management & Equity Research Inc. grew its stake in shares of Versum Materials by 5.6% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 37,684 shares of the basic materials company’s stock valued at $1,225,000 after purchasing an additional 2,010 shares during the period. Atlantic Trust Group LLC bought a new stake in Versum Materials during the 2nd quarter worth approximately $424,000. Long Road Investment Counsel LLC bought a new stake in Versum Materials during the 2nd quarter worth approximately $205,000. JPMorgan Chase & Co. lifted its holdings in Versum Materials by 19.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 308,045 shares of the basic materials company’s stock worth $7,856,000 after buying an additional 50,091 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Versum Materials by 243.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 6,263 shares of the basic materials company’s stock worth $204,000 after buying an additional 4,442 shares in the last quarter. Hedge funds and other institutional investors own 89.59% of the company’s stock.
Several research firms have issued reports on VSM. Stifel Nicolaus initiated coverage on Versum Materials in a report on Wednesday. They set a “hold” rating and a $42.00 price objective on the stock. ValuEngine raised Versum Materials from a “hold” rating to a “buy” rating in a research note on Wednesday. Needham & Company LLC reissued a “buy” rating and issued a $41.00 price target on shares of Versum Materials in a research note on Tuesday, September 5th. Credit Suisse Group set a $40.00 price target on Versum Materials and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Finally, Zacks Investment Research raised Versum Materials from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Wednesday, August 2nd. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Versum Materials has an average rating of “Buy” and an average price target of $35.27.
Versum Materials Inc. (VSM) traded up 1.04% during trading on Friday, reaching $37.84. The company’s stock had a trading volume of 310,978 shares. The stock’s 50-day moving average is $37.83 and its 200 day moving average is $37.83. The company has a market cap of $4.12 billion and a P/E ratio of 21.38. Versum Materials Inc. has a 12 month low of $21.86 and a 12 month high of $38.38.
Versum Materials (NYSE:VSM) last posted its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.08. The business had revenue of $290.80 million during the quarter, compared to analyst estimates of $265.64 million. Versum Materials had a net margin of 17.91% and a negative return on equity of 261.88%. The company’s revenue was up 19.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.45 earnings per share. On average, equities analysts forecast that Versum Materials Inc. will post $1.91 EPS for the current fiscal year.
In other news, Director Jacques M. Croisetiere purchased 2,750 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was acquired at an average cost of $36.00 per share, for a total transaction of $99,000.00. Following the completion of the transaction, the director now directly owns 8,376 shares in the company, valued at approximately $301,536. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.49% of the company’s stock.
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Versum Materials Company Profile
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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