Bank of New York Mellon Corp lifted its holdings in shares of Veritiv Corp (NYSE:VRTV) by 4.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,624 shares of the basic materials company’s stock after purchasing an additional 5,389 shares during the quarter. Bank of New York Mellon Corp owned 0.81% of Veritiv worth $4,645,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in VRTV. Acadian Asset Management LLC raised its position in shares of Veritiv by 54.3% during the third quarter. Acadian Asset Management LLC now owns 69,912 shares of the basic materials company’s stock worth $2,543,000 after purchasing an additional 24,610 shares during the period. United Services Automobile Association raised its position in shares of Veritiv by 67.7% during the second quarter. United Services Automobile Association now owns 31,876 shares of the basic materials company’s stock worth $1,270,000 after purchasing an additional 12,868 shares during the period. Engineers Gate Manager LP acquired a new stake in shares of Veritiv during the third quarter worth about $279,000. Janney Montgomery Scott LLC acquired a new stake in shares of Veritiv during the third quarter worth about $246,000. Finally, Commonwealth Bank of Australia acquired a new stake in shares of Veritiv during the third quarter worth about $229,000. 90.64% of the stock is currently owned by institutional investors.
NYSE:VRTV opened at $35.86 on Thursday. The company has a quick ratio of 1.53, a current ratio of 2.32 and a debt-to-equity ratio of 1.86. The stock has a market cap of $568.27 million, a P/E ratio of -42.19 and a beta of 1.22. Veritiv Corp has a 52-week low of $22.45 and a 52-week high of $51.00.
A number of research firms recently issued reports on VRTV. ValuEngine downgraded Veritiv from a “sell” rating to a “strong sell” rating in a report on Wednesday, December 5th. Zacks Investment Research downgraded Veritiv from a “hold” rating to a “strong sell” rating in a report on Saturday, November 17th. TheStreet downgraded Veritiv from a “c-” rating to a “d+” rating in a report on Wednesday, December 26th. Finally, Sidoti began coverage on Veritiv in a report on Wednesday, October 24th. They set a “buy” rating and a $44.00 price objective for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Veritiv presently has an average rating of “Hold” and a consensus price target of $40.40.
In other news, Chairman Mary A. Laschinger acquired 3,350 shares of the firm’s stock in a transaction that occurred on Monday, November 19th. The stock was acquired at an average cost of $29.79 per share, for a total transaction of $99,796.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.80% of the stock is currently owned by company insiders.
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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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