Envestnet Asset Management Inc. Lowers Stake in Versum Materials Inc (NYSE:VSM)

Envestnet Asset Management Inc. cut its stake in Versum Materials Inc (NYSE:VSM) by 13.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,944 shares of the basic materials company’s stock after selling 3,338 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Versum Materials were worth $1,132,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Royal London Asset Management Ltd. acquired a new position in shares of Versum Materials during the 1st quarter worth approximately $30,000. Machina Capital S.A.S. increased its position in shares of Versum Materials by 97.7% during the second quarter. Machina Capital S.A.S. now owns 593 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 293 shares in the last quarter. Heritage Wealth Advisors increased its position in shares of Versum Materials by 20.0% during the first quarter. Heritage Wealth Advisors now owns 1,200 shares of the basic materials company’s stock worth $60,000 after purchasing an additional 200 shares in the last quarter. Twin Tree Management LP purchased a new stake in shares of Versum Materials during the first quarter worth approximately $122,000. Finally, CIBC Asset Management Inc purchased a new stake in shares of Versum Materials during the first quarter worth approximately $201,000. 92.92% of the stock is owned by institutional investors.

NYSE:VSM traded down $0.02 during trading hours on Friday, hitting $52.20. The company had a trading volume of 28,082 shares, compared to its average volume of 742,195. The company has a market cap of $5.70 billion, a P/E ratio of 22.21 and a beta of 1.65. The company has a current ratio of 4.33, a quick ratio of 3.12 and a debt-to-equity ratio of 4.77. Versum Materials Inc has a 1 year low of $25.02 and a 1 year high of $52.58. The company has a 50-day moving average of $51.96 and a 200 day moving average of $51.13.

Versum Materials (NYSE:VSM) last released its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.05). The business had revenue of $324.30 million for the quarter, compared to analysts’ expectations of $351.13 million. Versum Materials had a return on equity of 99.97% and a net margin of 5.87%. The business’s revenue for the quarter was down 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.63 earnings per share. On average, analysts forecast that Versum Materials Inc will post 2.3 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Monday, August 12th. Versum Materials’s dividend payout ratio is presently 13.62%.

Separately, Zacks Investment Research cut Versum Materials from a “hold” rating to a “sell” rating in a report on Wednesday, August 21st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $46.50.

About Versum Materials

Versum Materials, Inc develops, manufactures, transports, and handles specialty materials for the semiconductor and display industries in the United States, Taiwan, South Korea, China, Europe, and rest of Asia. The company operates through two segments, Materials, and Delivery Systems and Services (DS&S).

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Institutional Ownership by Quarter for Versum Materials (NYSE:VSM)

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