Russell Investments Group Ltd. boosted its position in Veritiv Corp (NYSE:VRTV) by 79.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,805 shares of the basic materials company’s stock after purchasing an additional 4,342 shares during the period. Russell Investments Group Ltd. owned approximately 0.06% of Veritiv worth $391,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. grew its position in Veritiv by 24.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 203,553 shares of the basic materials company’s stock valued at $7,980,000 after purchasing an additional 40,623 shares during the last quarter. Aperio Group LLC grew its position in Veritiv by 21.2% during the 1st quarter. Aperio Group LLC now owns 11,396 shares of the basic materials company’s stock valued at $447,000 after purchasing an additional 1,993 shares during the last quarter. Northern Trust Corp grew its position in Veritiv by 1.5% during the 1st quarter. Northern Trust Corp now owns 139,492 shares of the basic materials company’s stock valued at $5,469,000 after purchasing an additional 1,997 shares during the last quarter. Natixis Advisors L.P. purchased a new stake in Veritiv during the 1st quarter valued at about $1,089,000. Finally, Dimensional Fund Advisors LP grew its position in Veritiv by 15.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 871,757 shares of the basic materials company’s stock valued at $34,173,000 after purchasing an additional 114,082 shares during the last quarter. Hedge funds and other institutional investors own 95.22% of the company’s stock.
In other Veritiv news, major shareholder Bain Capital Investors Llc sold 1,500,000 shares of the company’s stock in a transaction dated Tuesday, September 25th. The shares were sold at an average price of $41.40, for a total transaction of $62,100,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.80% of the stock is currently owned by corporate insiders.
Veritiv (NYSE:VRTV) last posted its earnings results on Thursday, August 9th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.99 by ($0.67). The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.07 billion. Veritiv had a negative net margin of 0.33% and a positive return on equity of 7.33%. As a group, analysts expect that Veritiv Corp will post 3.54 EPS for the current year.
Several brokerages recently commented on VRTV. Zacks Investment Research raised shares of Veritiv from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research report on Saturday, June 30th. ValuEngine upgraded shares of Veritiv from a “strong sell” rating to a “sell” rating in a research note on Friday, June 15th. SunTrust Banks upped their target price on shares of Veritiv to $40.00 and gave the company a “hold” rating in a research note on Friday, August 10th. Finally, TheStreet upgraded shares of Veritiv from a “d+” rating to a “c” rating in a research note on Monday, August 13th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Veritiv currently has a consensus rating of “Hold” and an average price target of $35.60.
Veritiv Corporation operates as a business-to-business distributor of packaging, facility solutions, print, and publishing products and services in the United States, Canada, and internationally. It operates through four segments: Packaging, Facility Solutions, Print, and Publishing. The Packaging segment offers standard and custom packaging solutions.
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