Legal & General Group Plc cut its stake in Versum Materials Inc. (NYSE:VSM) by 83.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 69,178 shares of the basic materials company’s stock after selling 352,248 shares during the period. Legal & General Group Plc owned 0.06% of Versum Materials worth $2,117,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP purchased a new position in shares of Versum Materials during the fourth quarter valued at about $5,440,000. FMR LLC purchased a new position in shares of Versum Materials during the fourth quarter valued at about $4,938,000. Janus Capital Management LLC purchased a new position in shares of Versum Materials during the fourth quarter valued at about $227,000. Guggenheim Capital LLC purchased a new position in shares of Versum Materials during the fourth quarter valued at about $3,657,000. Finally, Teachers Retirement System of The State of Kentucky purchased a new position in shares of Versum Materials during the fourth quarter valued at about $884,000. Hedge funds and other institutional investors own 88.29% of the company’s stock.
Shares of Versum Materials Inc. (NYSE:VSM) opened at 33.99 on Tuesday. The company has a market cap of $3.70 billion and a PE ratio of 19.58. Versum Materials Inc. has a 12-month low of $21.86 and a 12-month high of $34.01. The company has a 50-day moving average of $31.55 and a 200 day moving average of $29.98.
Versum Materials (NYSE:VSM) last released its earnings results on Tuesday, May 2nd. The basic materials company reported $0.44 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.44. The business had revenue of $270.80 million during the quarter, compared to analysts’ expectations of $249.95 million. During the same quarter in the previous year, the business earned $0.48 EPS. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, equities research analysts expect that Versum Materials Inc. will post $1.78 EPS for the current year.
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Several analysts recently weighed in on VSM shares. Credit Suisse Group set a $33.00 price target on shares of Versum Materials and gave the company a “buy” rating in a report on Tuesday, May 2nd. Zacks Investment Research cut shares of Versum Materials from a “buy” rating to a “hold” rating in a report on Saturday, May 6th. Aegis upgraded shares of Versum Materials from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a report on Friday, June 23rd. Finally, Needham & Company LLC started coverage on shares of Versum Materials in a report on Monday, July 10th. They issued a “buy” rating and a $38.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $32.80.
About Versum Materials
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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