Principal Financial Group Inc. increased its holdings in shares of Versum Materials Inc. (NYSE:VSM) by 5.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 463,854 shares of the basic materials company’s stock after acquiring an additional 25,891 shares during the period. Principal Financial Group Inc. owned about 0.43% of Versum Materials worth $15,075,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pinnacle Financial Partners Inc. bought a new stake in Versum Materials during the 2nd quarter worth approximately $111,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Versum Materials by 12.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,983 shares of the basic materials company’s stock worth $129,000 after acquiring an additional 428 shares during the last quarter. MV Capital Management Inc. grew its position in Versum Materials by 20.5% during the 2nd quarter. MV Capital Management Inc. now owns 4,379 shares of the basic materials company’s stock worth $142,000 after acquiring an additional 746 shares during the last quarter. Creative Planning grew its position in Versum Materials by 17.0% during the 2nd quarter. Creative Planning now owns 4,587 shares of the basic materials company’s stock worth $149,000 after acquiring an additional 666 shares during the last quarter. Finally, Elkfork Partners LLC grew its position in Versum Materials by 18.9% during the 1st quarter. Elkfork Partners LLC now owns 5,460 shares of the basic materials company’s stock worth $167,000 after acquiring an additional 868 shares during the last quarter. Institutional investors and hedge funds own 89.59% of the company’s stock.
Versum Materials Inc. (VSM) opened at 38.29 on Tuesday. The company has a market capitalization of $4.16 billion and a price-to-earnings ratio of 21.63. The firm has a 50-day moving average price of $37.85 and a 200-day moving average price of $36.81. 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 earnings results on Tuesday, August 1st. The basic materials company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.08. The firm had revenue of $290.80 million for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm posted $0.45 earnings per share. On average, equities analysts anticipate that Versum Materials Inc. will post $1.91 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, August 21st. Shareholders of record on Monday, August 7th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.52%.
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A number of equities research analysts recently commented on the company. Zacks Investment Research upgraded Versum Materials from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research report on Wednesday, August 2nd. Jefferies Group LLC reiterated a “hold” rating and issued a $38.00 price objective (up from $34.00) on shares of Versum Materials in a research report on Wednesday, August 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $41.00 price objective on shares of Versum Materials in a research report on Tuesday, September 5th. Credit Suisse Group set a $40.00 price objective on Versum Materials and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Finally, Aegis upgraded Versum Materials from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research report on Friday, June 23rd. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $34.60.
In related news, Director Jacques M. Croisetiere bought 2,750 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were purchased at an average price of $36.00 per share, with a total value of $99,000.00. Following the completion of the purchase, the director now 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 available at the SEC website. 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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