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Versum Materials Rose 9.8% in November

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Dec. 5 2018, Updated 9:45 a.m. ET

Versum Materials in November

Versum Materials (VSM), a spin-off company of Air Products and Chemicals (APD), was the second-best performer among specialty chemical companies. Versum Materials gained ~9.8% in November. The company outperformed the S&P 500 (SPY), which gained 1.8%.

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What caused the stock to increase?

In November, Versum Materials announced a dividend increase. The company increased its dividend 33% from $0.06 per share to $0.08 per share. The dividend was paid to shareholders who held shares as of the close on November 11. The dividend was paid to shareholders on November 27.

Another driving factor is the company’s strong fourth-quarter earnings. Versum Materials reported an adjusted EPS of $0.60—an increase of 28% compared to the fourth quarter of 2017. Versum Materials beat analysts’ expectation of $0.57 per share. The revenues increased 19% to $351 million for the quarter. For fiscal 2018, the revenues increased 22% compared to fiscal 2017.

On a year-to-date basis, the stock has fallen 10.25%. Venator (VNTR) and Chemours (CC) have fallen 77.3% and 45.8%, respectively.

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