Grantham Mayo Van Otterloo & Co. LLC Increases Holdings in Verso Corp (NYSE:VRS)

Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in shares of Verso Corp (NYSE:VRS) by 5.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 410,200 shares of the basic materials company’s stock after purchasing an additional 22,200 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned about 1.19% of Verso worth $7,814,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of VRS. Northern Trust Corp raised its holdings in Verso by 2.7% in the 2nd quarter. Northern Trust Corp now owns 404,907 shares of the basic materials company’s stock worth $7,714,000 after purchasing an additional 10,718 shares during the period. Donald Smith & CO. Inc. raised its holdings in Verso by 0.5% in the 2nd quarter. Donald Smith & CO. Inc. now owns 226,936 shares of the basic materials company’s stock worth $4,323,000 after purchasing an additional 1,085 shares during the period. Public Employees Retirement System of Ohio raised its holdings in Verso by 63.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 27,586 shares of the basic materials company’s stock worth $526,000 after purchasing an additional 10,729 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Verso by 8.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 453,655 shares of the basic materials company’s stock worth $8,643,000 after purchasing an additional 33,841 shares during the period. Finally, Bank of Montreal Can raised its holdings in Verso by 294.8% in the 2nd quarter. Bank of Montreal Can now owns 3,948 shares of the basic materials company’s stock worth $75,000 after purchasing an additional 2,948 shares during the period. Hedge funds and other institutional investors own 90.74% of the company’s stock.

Shares of VRS stock opened at $11.53 on Thursday. Verso Corp has a 52-week low of $9.61 and a 52-week high of $34.60. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.63 and a current ratio of 2.07. The firm has a market capitalization of $397.60 million, a PE ratio of 3.12 and a beta of 1.96. The stock has a fifty day simple moving average of $12.24 and a two-hundred day simple moving average of $18.04.

Verso (NYSE:VRS) last issued its quarterly earnings results on Thursday, August 8th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.86) by $1.98. Verso had a return on equity of 18.97% and a net margin of 3.64%. The business had revenue of $602.00 million during the quarter, compared to analyst estimates of $632.30 million. On average, sell-side analysts forecast that Verso Corp will post 0.89 EPS for the current fiscal year.

A number of equities analysts recently commented on the company. Zacks Investment Research cut Verso from a “buy” rating to a “hold” rating in a report on Thursday, August 15th. ValuEngine cut Verso from a “hold” rating to a “sell” rating in a report on Thursday, May 23rd. Finally, B. Riley decreased their target price on Verso from $26.00 to $17.50 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $29.17.

About Verso

Verso Corporation produces and sells coated papers in North America. It operates through two segments, Paper and Pulp. The company offers coated freesheet and coated groundwood, specialty, packaging, inkjet and digital, supercalendered, and uncoated freesheet papers; and bleached and unbleached market kraft pulp to manufacture printing, writing, and tissue products.

Read More: How the Consumer Price Index (CPI) is calculated?

Institutional Ownership by Quarter for Verso (NYSE:VRS)

Receive News & Ratings for Verso Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verso and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply