Acadian Asset Management LLC grew its holdings in shares of Veritiv Co. (NYSE:VRTV) by 14.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 345,845 shares of the basic materials company’s stock after buying an additional 44,415 shares during the quarter. Acadian Asset Management LLC owned 2.21% of Veritiv worth $14,713,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Morgan Stanley raised its position in shares of Veritiv by 396.8% during the 4th quarter. Morgan Stanley now owns 295,250 shares of the basic materials company’s stock valued at $6,138,000 after acquiring an additional 235,818 shares in the last quarter. BlackRock Inc. raised its position in shares of Veritiv by 9.5% during the 1st quarter. BlackRock Inc. now owns 2,124,151 shares of the basic materials company’s stock valued at $90,360,000 after acquiring an additional 184,713 shares in the last quarter. Caas Capital Management LP acquired a new stake in shares of Veritiv during the 4th quarter valued at approximately $2,607,000. Canada Pension Plan Investment Board acquired a new stake in shares of Veritiv during the 4th quarter valued at approximately $2,050,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Veritiv during the 4th quarter valued at approximately $1,098,000. Institutional investors own 89.73% of the company’s stock.
In related news, Director Stephen E. Macadam bought 5,000 shares of the company’s stock in a transaction on Tuesday, March 23rd. The shares were purchased at an average cost of $39.49 per share, with a total value of $197,450.00. Following the completion of the transaction, the director now directly owns 18,270 shares of the company’s stock, valued at $721,482.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.50% of the stock is owned by company insiders.
Shares of NYSE VRTV opened at $61.77 on Friday. Veritiv Co. has a 1-year low of $12.30 and a 1-year high of $67.39. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.11 and a quick ratio of 1.45. The stock has a fifty day moving average of $50.07. The firm has a market capitalization of $967.63 million, a price-to-earnings ratio of 18.61 and a beta of 2.23.
Veritiv (NYSE:VRTV) last issued its earnings results on Tuesday, May 4th. The basic materials company reported $1.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $1.26. Veritiv had a return on equity of 14.72% and a net margin of 0.90%. On average, equities research analysts predict that Veritiv Co. will post 4.5 earnings per share for the current year.
Veritiv Corporation operates as a business-to-business provider of value-added packaging products and services, as well as facility solutions, print, and publishing products and services in the United States, Canada, Mexico, and internationally. The Packaging segment provides custom and standard packaging solutions.
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