Oppenheimer & Co. Inc. cut its position in Versum Materials Inc. (NYSE:VSM) by 1.3% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 28,880 shares of the basic materials company’s stock after selling 393 shares during the period. Oppenheimer & Co. Inc.’s holdings in Versum Materials were worth $884,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new position in Versum Materials during the fourth quarter worth $6,600,000. Aberdeen Asset Management PLC UK acquired a new position in Versum Materials during the fourth quarter worth $348,000. Bessemer Group Inc. acquired a new position in Versum Materials during the fourth quarter worth $143,000. State Board of Administration of Florida Retirement System acquired a new position in Versum Materials during the fourth quarter worth $3,920,000. Finally, Comerica Bank acquired a new position in Versum Materials during the fourth quarter worth $3,017,000. 88.97% of the stock is owned by institutional investors.
Shares of Versum Materials Inc. (NYSE VSM) traded up 4.11% during trading on Friday, hitting $33.21. The company’s stock had a trading volume of 500,040 shares. The company has a 50-day moving average price of $31.17 and a 200-day moving average price of $29.71. Versum Materials Inc. has a one year low of $21.86 and a one year high of $33.40. The stock has a market cap of $3.61 billion and a PE ratio of 19.13.
Versum Materials (NYSE:VSM) last posted its quarterly earnings results on Tuesday, May 2nd. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.44. The company had revenue of $270.80 million for the quarter, compared to analyst estimates of $249.95 million. During the same quarter in the previous year, the business posted $0.48 earnings per share. Versum Materials’s revenue was up 16.0% on a year-over-year basis. Equities analysts predict that Versum Materials Inc. will post $1.79 EPS for the current fiscal year.
A number of equities analysts recently weighed in on VSM shares. Aegis started coverage on Versum Materials in a report on Friday, March 17th. They issued a “hold” rating and a $33.00 price target for the company. Credit Suisse Group set a $33.00 price target on Versum Materials and gave the stock a “buy” rating in a report on Tuesday, May 2nd. Finally, Zacks Investment Research cut Versum Materials from a “buy” rating to a “hold” rating in a report on Saturday, May 6th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $31.33.
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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