ValuEngine Lowers Versum Materials (VSM) to Hold
Versum Materials (NYSE:VSM) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Friday.
VSM has been the topic of a number of other research reports. Credit Suisse Group lifted their price objective on shares of Versum Materials from $40.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, November 10th. Stifel Nicolaus began coverage on shares of Versum Materials in a research note on Wednesday, September 20th. They set a “hold” rating and a $42.00 price objective on the stock. Jefferies Group reiterated a “neutral” rating on shares of Versum Materials in a research note on Tuesday. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price objective (up previously from $41.00) on shares of Versum Materials in a research note on Friday, November 10th. Finally, KeyCorp reiterated an “overweight” rating and set a $4.00 price objective (down previously from $41.00) on shares of Versum Materials in a research note on Friday, November 10th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $36.90.
Versum Materials (VSM) traded down $1.12 on Friday, hitting $37.28. 1,075,388 shares of the stock were exchanged, compared to its average volume of 495,024. The stock has a market capitalization of $4,100.00 and a price-to-earnings ratio of 20.98. Versum Materials has a 12 month low of $24.27 and a 12 month high of $42.74. The company has a debt-to-equity ratio of 39.72, a current ratio of 3.84 and a quick ratio of 2.88.
In related news, Director Thomas Riordan purchased 2,550 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was acquired at an average price of $38.90 per share, for a total transaction of $99,195.00. Following the completion of the purchase, the director now owns 5,511 shares in the company, valued at $214,377.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.49% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of VSM. BlackRock Inc. increased 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 last quarter. Franklin Resources Inc. increased its stake in shares of Versum Materials by 716.4% in the fourth quarter. Franklin Resources Inc. now owns 4,456,042 shares of the basic materials company’s stock worth $125,081,000 after buying an additional 3,910,242 shares during the last quarter. Iridian Asset Management LLC CT increased its stake in shares of Versum Materials by 11,950.8% in the fourth quarter. Iridian Asset Management LLC CT now owns 2,959,667 shares of the basic materials company’s stock worth $83,078,000 after buying an additional 2,935,107 shares during the last quarter. State Street Corp bought a new stake in shares of Versum Materials in the fourth quarter worth $74,676,000. Finally, Systematic Financial Management LP bought a new stake in shares of Versum Materials in the fourth quarter worth $49,850,000. Institutional investors and hedge funds own 90.31% of the company’s stock.
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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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