Port Capital LLC lifted its stake in shares of Versum Materials (NYSE:VSM) by 11.2% during the first quarter, HoldingsChannel.com reports. The fund owned 126,535 shares of the basic materials company’s stock after buying an additional 12,700 shares during the quarter. Port Capital LLC’s holdings in Versum Materials were worth $4,762,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in the stock. Diamond Hill Capital Management Inc. acquired a new position in Versum Materials during the first quarter worth $8,850,000. Alps Advisors Inc. raised its holdings in Versum Materials by 97.5% during the first quarter. Alps Advisors Inc. now owns 12,202 shares of the basic materials company’s stock worth $459,000 after buying an additional 6,024 shares during the last quarter. Armstrong Henry H Associates Inc. raised its holdings in Versum Materials by 9.7% during the first quarter. Armstrong Henry H Associates Inc. now owns 44,884 shares of the basic materials company’s stock worth $1,724,000 after buying an additional 3,960 shares during the last quarter. SG Americas Securities LLC raised its holdings in Versum Materials by 44.0% during the first quarter. SG Americas Securities LLC now owns 80,683 shares of the basic materials company’s stock worth $3,036,000 after buying an additional 24,663 shares during the last quarter. Finally, Boston Partners raised its holdings in Versum Materials by 87.4% during the first quarter. Boston Partners now owns 3,726,695 shares of the basic materials company’s stock worth $140,235,000 after buying an additional 1,737,773 shares during the last quarter. Institutional investors own 93.05% of the company’s stock.
Several research firms have weighed in on VSM. Zacks Investment Research upgraded shares of Versum Materials from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Friday, May 11th. Loop Capital downgraded shares of Versum Materials from a “buy” rating to a “hold” rating and set a $42.00 price objective on the stock. in a report on Thursday, January 25th. Argus upgraded shares of Versum Materials from a “hold” rating to a “buy” rating in a report on Monday. Credit Suisse Group upped their price objective on shares of Versum Materials from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, May 9th. Finally, Jefferies Group upgraded shares of Versum Materials from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Monday, March 26th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $39.38.
Shares of VSM opened at $38.83 on Wednesday. The company has a market capitalization of $4.29 billion, a P/E ratio of 18.58, a P/E/G ratio of 1.28 and a beta of 0.33. The company has a current ratio of 5.09, a quick ratio of 3.78 and a debt-to-equity ratio of 7.69. Versum Materials has a 1-year low of $38.70 and a 1-year high of $39.11.
Versum Materials (NYSE:VSM) last announced its earnings results on Tuesday, May 8th. The basic materials company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. The business had revenue of $340.70 million for the quarter, compared to the consensus estimate of $312.84 million. Versum Materials had a net margin of 14.12% and a return on equity of 459.92%. Versum Materials’s quarterly revenue was up 25.8% on a year-over-year basis. During the same period last year, the firm posted $0.44 earnings per share. analysts anticipate that Versum Materials will post 2.36 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 29th. Shareholders of record on Tuesday, May 15th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, May 14th. This is an increase from Versum Materials’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 0.62%. Versum Materials’s dividend payout ratio (DPR) is 12.57%.
Versum Materials 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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