King Luther Capital Management Corp reduced its stake in shares of Versum Materials Inc. (NYSE:VSM) by 13.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,637 shares of the basic materials company’s stock after selling 2,636 shares during the period. King Luther Capital Management Corp’s holdings in Versum Materials were worth $540,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new stake in Versum Materials during the fourth quarter valued at approximately $6,600,000. Aberdeen Asset Management PLC UK acquired a new stake in Versum Materials during the fourth quarter valued at approximately $348,000. Bessemer Group Inc. acquired a new stake in Versum Materials during the fourth quarter valued at approximately $143,000. State Board of Administration of Florida Retirement System acquired a new stake in Versum Materials during the fourth quarter valued at approximately $3,920,000. Finally, Comerica Bank acquired a new stake in Versum Materials during the fourth quarter valued at approximately $3,017,000. Institutional investors and hedge funds own 88.97% of the company’s stock.
Versum Materials Inc. (VSM) traded down 1.269% during mid-day trading on Tuesday, hitting $31.515. 432,679 shares of the stock traded hands. The stock has a 50 day moving average price of $31.17 and a 200 day moving average price of $29.66. Versum Materials Inc. has a 12-month low of $21.86 and a 12-month high of $33.01. The firm has a market cap of $3.43 billion and a PE ratio of 18.154.
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 the consensus estimate of $0.44. The firm had revenue of $270.80 million during the quarter, compared to analysts’ expectations of $249.95 million. The business’s revenue was up 16.0% on a year-over-year basis. During the same period last year, the business earned $0.48 earnings per share. On average, analysts expect that Versum Materials Inc. will post $1.79 earnings per share for the current fiscal year.
VSM has been the topic of several research reports. Aegis initiated coverage on shares of Versum Materials in a research report on Friday, March 17th. They issued a “hold” rating and a $33.00 price target on the stock. Credit Suisse Group set a $33.00 price target on shares of Versum Materials and gave the company a “buy” rating in a research report on Tuesday, May 2nd. Finally, Zacks Investment Research lowered shares of Versum Materials from a “buy” rating to a “hold” rating in a research report on Saturday, May 6th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $30.67.
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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