Millennium Management LLC Increases Stake in Versum Materials Inc (VSM)

Millennium Management LLC grew its holdings in shares of Versum Materials Inc (NYSE:VSM) by 60.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 598,860 shares of the basic materials company’s stock after buying an additional 225,982 shares during the period. Millennium Management LLC owned 0.55% of Versum Materials worth $22,248,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of Versum Materials by 1.2% during the 2nd quarter. BlackRock Inc. now owns 10,009,996 shares of the basic materials company’s stock valued at $371,872,000 after buying an additional 120,849 shares in the last quarter. Iridian Asset Management LLC CT boosted its holdings in shares of Versum Materials by 10.2% during the 2nd quarter. Iridian Asset Management LLC CT now owns 6,239,870 shares of the basic materials company’s stock valued at $231,811,000 after buying an additional 578,716 shares in the last quarter. Boston Partners boosted its holdings in shares of Versum Materials by 23.0% during the 2nd quarter. Boston Partners now owns 4,584,931 shares of the basic materials company’s stock valued at $170,330,000 after buying an additional 858,236 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Versum Materials by 7.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,093,339 shares of the basic materials company’s stock valued at $40,618,000 after buying an additional 74,743 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Versum Materials by 9.6% during the 2nd quarter. Victory Capital Management Inc. now owns 856,014 shares of the basic materials company’s stock valued at $31,801,000 after buying an additional 75,010 shares in the last quarter. Hedge funds and other institutional investors own 91.90% of the company’s stock.

VSM opened at $35.79 on Thursday. The company has a quick ratio of 3.39, a current ratio of 4.43 and a debt-to-equity ratio of 6.20. The stock has a market capitalization of $4.01 billion, a PE ratio of 18.74, a P/E/G ratio of 1.22 and a beta of 0.52. Versum Materials Inc has a 1 year low of $33.06 and a 1 year high of $42.74.

Versum Materials (NYSE:VSM) last posted its quarterly earnings results on Tuesday, August 7th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. The firm had revenue of $350.00 million during the quarter, compared to analyst estimates of $344.20 million. Versum Materials had a return on equity of 264.89% and a net margin of 14.29%. sell-side analysts forecast that Versum Materials Inc will post 2.33 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 28th. Stockholders of record on Tuesday, August 14th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Monday, August 13th. Versum Materials’s dividend payout ratio is presently 12.57%.

VSM has been the topic of a number of research reports. KeyCorp boosted their target price on shares of Versum Materials from $46.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, September 7th. Credit Suisse Group boosted their target price on shares of Versum Materials from $46.00 to $47.00 and gave the company an “outperform” rating in a report on Wednesday, August 8th. Finally, Zacks Investment Research cut shares of Versum Materials from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Versum Materials presently has a consensus rating of “Buy” and an average price target of $46.14.

In related news, Director Susan C. Schnabel purchased 2,500 shares of the stock in a transaction dated Monday, August 13th. The stock was purchased at an average price of $37.49 per share, with a total value of $93,725.00. Following the transaction, the director now directly owns 16,859 shares in the company, valued at $632,043.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.55% of the stock is owned by insiders.

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.

Further Reading: Compound Annual Growth Rate (CAGR)

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Institutional Ownership by Quarter for Versum Materials (NYSE:VSM)

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