Versum Materials Inc. (NYSE:VSM) - Investment analysts at Oppenheimer Holdings upped their FY2017 earnings per share (EPS) estimates for shares of Versum Materials in a report released on Tuesday. Oppenheimer Holdings analyst I. Zaffino now forecasts that the basic materials company will post earnings of $1.84 per share for the year, up from their prior forecast of $1.80.
Several other analysts have also recently commented on the stock. Zacks Investment Research cut shares of Versum Materials from a “buy” rating to a “hold” rating in a research note on Saturday, May 6th. Credit Suisse Group set a $33.00 target price on shares of Versum Materials and gave the stock a “buy” rating in a research note on Tuesday, May 2nd. Aegis raised shares of Versum Materials from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research note on Friday, June 23rd. Needham & Company LLC started coverage on shares of Versum Materials in a research note on Monday, July 10th. They issued a “buy” rating and a $38.00 target price for the company. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $38.00 target price (up from $34.00) on shares of Versum Materials in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $34.30.
Versum Materials (NYSE:VSM) opened at 35.71 on Thursday. The company has a 50-day moving average price of $33.29 and a 200 day moving average price of $30.95. Versum Materials has a 12 month low of $21.86 and a 12 month high of $37.40. The stock has a market capitalization of $3.89 billion and a price-to-earnings ratio of 20.18.
Versum Materials (NYSE:VSM) last issued its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.08. The business had revenue of $290.80 million during the quarter, compared to analysts’ expectations of $265.64 million. The company’s revenue was up 19.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.45 earnings per share.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Monday, August 7th will be paid a dividend of $0.05 per share. The ex-dividend date is Thursday, August 3rd. This represents a $0.20 annualized dividend and a dividend yield of 0.56%.
In related news, Director Jacques M. Croisetiere acquired 2,750 shares of the stock in a transaction dated Thursday, August 3rd. The stock was bought at an average cost of $36.00 per share, with a total value of $99,000.00. Following the purchase, the director now directly owns 8,376 shares of the company’s stock, valued at $301,536. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.49% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in VSM. Vanguard Group Inc. boosted its stake in shares of Versum Materials by 1.4% in the first quarter. Vanguard Group Inc. now owns 8,796,978 shares of the basic materials company’s stock worth $269,187,000 after buying an additional 125,435 shares during the period. BlackRock Inc. boosted its stake in shares of Versum Materials by 3,827.3% in the first quarter. BlackRock Inc. now owns 8,073,327 shares of the basic materials company’s stock worth $247,043,000 after buying an additional 7,867,760 shares during the period. Shapiro Capital Management LLC boosted its stake in shares of Versum Materials by 39.9% in the first quarter. Shapiro Capital Management LLC now owns 4,234,338 shares of the basic materials company’s stock worth $129,571,000 after buying an additional 1,207,568 shares during the period. Iridian Asset Management LLC CT boosted its stake in shares of Versum Materials by 7.4% in the first quarter. Iridian Asset Management LLC CT now owns 3,179,707 shares of the basic materials company’s stock worth $97,299,000 after buying an additional 220,040 shares during the period. Finally, Jennison Associates LLC boosted its stake in shares of Versum Materials by 2.6% in the second quarter. Jennison Associates LLC now owns 1,562,524 shares of the basic materials company’s stock worth $50,782,000 after buying an additional 39,983 shares during the period. 88.38% of the stock is owned by institutional investors.
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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