New York State Teachers Retirement System raised its position in Veritiv Corp (NYSE:VRTV) by 1.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,728 shares of the basic materials company’s stock after buying an additional 200 shares during the period. New York State Teachers Retirement System owned about 0.12% of Veritiv Corp worth $1,060,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Arizona State Retirement System acquired a new stake in Veritiv Corp during the third quarter worth approximately $212,000. OMERS ADMINISTRATION Corp acquired a new stake in Veritiv Corp during the third quarter worth approximately $222,000. Aperio Group LLC acquired a new stake in Veritiv Corp during the third quarter worth approximately $237,000. DIAM Co. Ltd. acquired a new stake in Veritiv Corp during the third quarter worth approximately $243,000. Finally, Gargoyle Investment Advisor L.L.C. acquired a new stake in Veritiv Corp during the third quarter worth approximately $412,000. Institutional investors and hedge funds own 95.69% of the company’s stock.
Veritiv Corp (NYSE:VRTV) traded down 1.61% during midday trading on Friday, hitting $48.90. 103,275 shares of the stock were exchanged. The company has a 50 day moving average price of $52.37 and a 200 day moving average price of $53.14. The firm has a market capitalization of $767.09 million, a price-to-earnings ratio of 37.62 and a beta of 1.28. Veritiv Corp has a one year low of $34.10 and a one year high of $62.60.
Veritiv Corp (NYSE:VRTV) last posted its quarterly earnings data on Tuesday, March 14th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.90 by $0.64. Veritiv Corp had a net margin of 0.32% and a return on equity of 7.15%. The business earned $2.12 billion during the quarter, compared to analyst estimates of $2.12 billion. The company’s revenue was down 3.7% compared to the same quarter last year. Equities analysts anticipate that Veritiv Corp will post $2.98 EPS for the current year.
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A number of analysts recently commented on the stock. Zacks Investment Research downgraded shares of Veritiv Corp from a “buy” rating to a “hold” rating in a report on Saturday, March 18th. Wells Fargo & Co assumed coverage on shares of Veritiv Corp in a report on Wednesday, March 15th. They set a “market perform” rating on the stock. Finally, Bank of America Corp assumed coverage on shares of Veritiv Corp in a report on Wednesday, January 11th. They set a “buy” rating on the stock.
In other news, major shareholder Bain Capital Investors Llc sold 1,800,000 shares of Veritiv Corp stock in a transaction that occurred on Wednesday, March 22nd. The shares were sold at an average price of $54.14, for a total value of $97,452,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.12% of the stock is owned by company insiders.
About Veritiv Corp
Veritiv Corporation is a business-to-business distributor of print, publishing, packaging and facility solutions. The Company also provides logistics and supply chain management solutions to its customers. The Company’s segments are Print, Publishing & Print Management (Publishing), Packaging, Facility Solutions, and Corporate & Other.
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