Profund Advisors LLC reduced its holdings in Versum Materials Inc. (NYSE:VSM) by 1.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,131 shares of the basic materials company’s stock after selling 515 shares during the period. Profund Advisors LLC’s holdings in Versum Materials were worth $1,109,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in VSM. Pinnacle Financial Partners Inc. purchased a new stake in shares of Versum Materials in the 2nd quarter valued at $111,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Versum Materials by 12.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,983 shares of the basic materials company’s stock valued at $129,000 after acquiring an additional 428 shares during the last quarter. MV Capital Management Inc. boosted its holdings in shares of Versum Materials by 20.5% in the 2nd quarter. MV Capital Management Inc. now owns 4,379 shares of the basic materials company’s stock valued at $142,000 after acquiring an additional 746 shares during the last quarter. Creative Planning boosted its holdings in shares of Versum Materials by 17.0% in the 2nd quarter. Creative Planning now owns 4,587 shares of the basic materials company’s stock valued at $149,000 after acquiring an additional 666 shares during the last quarter. Finally, Riverhead Capital Management LLC boosted its holdings in shares of Versum Materials by 66.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,826 shares of the basic materials company’s stock valued at $189,000 after acquiring an additional 2,326 shares during the last quarter. 89.59% of the stock is currently owned by institutional investors and hedge funds.
Versum Materials Inc. (NYSE:VSM) opened at 37.84 on Thursday. The company has a 50 day moving average of $37.83 and a 200 day moving average of $37.83. Versum Materials Inc. has a 1-year low of $21.86 and a 1-year high of $38.38. The firm has a market capitalization of $4.12 billion and a PE ratio of 21.38.
Versum Materials (NYSE:VSM) last posted its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.08. Versum Materials had a net margin of 17.91% and a negative return on equity of 261.88%. The firm had revenue of $290.80 million for the quarter, compared to analyst estimates of $265.64 million. During the same period last year, the firm posted $0.45 EPS. Versum Materials’s quarterly revenue was up 19.8% on a year-over-year basis. Analysts forecast that Versum Materials Inc. will post $1.91 EPS for the current year.
Several analysts have recently commented on the stock. Stifel Nicolaus assumed coverage on shares of Versum Materials in a report on Wednesday. They issued a “hold” rating and a $42.00 price objective on the stock. ValuEngine raised shares of Versum Materials from a “hold” rating to a “buy” rating in a report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $41.00 price objective on shares of Versum Materials in a report on Tuesday, September 5th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $38.00 price objective (up from $34.00) on shares of Versum Materials in a report on Wednesday, August 2nd. Finally, Zacks Investment Research downgraded shares of Versum Materials from a “buy” rating to a “hold” rating in a report on Friday, July 7th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $35.27.
In other news, Director Jacques M. Croisetiere acquired 2,750 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were purchased at an average cost of $36.00 per share, for a total transaction of $99,000.00. Following the transaction, the director now directly owns 8,376 shares in the company, valued at approximately $301,536. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.49% of the company’s stock.
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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