State Street Corp grew its holdings in Veritiv Corp (NYSE:VRTV) by 6.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 440,657 shares of the basic materials company’s stock after buying an additional 26,625 shares during the quarter. State Street Corp owned 2.74% of Veritiv worth $7,967,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Alberta Investment Management Corp purchased a new stake in shares of Veritiv in the third quarter valued at approximately $212,000. Mackay Shields LLC increased its position in shares of Veritiv by 16.0% in the third quarter. Mackay Shields LLC now owns 57,861 shares of the basic materials company’s stock valued at $1,046,000 after buying an additional 8,000 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in shares of Veritiv in the third quarter worth approximately $581,000. Morgan Stanley boosted its stake in shares of Veritiv by 63.6% in the second quarter. Morgan Stanley now owns 96,886 shares of the basic materials company’s stock worth $1,881,000 after acquiring an additional 37,653 shares during the last quarter. Finally, Systematic Financial Management LP acquired a new stake in shares of Veritiv in the third quarter worth approximately $443,000. Institutional investors and hedge funds own 96.41% of the company’s stock.
A number of brokerages have recently issued reports on VRTV. ValuEngine raised Veritiv from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Zacks Investment Research raised Veritiv from a “sell” rating to a “hold” rating in a research note on Saturday, December 28th.
Shares of NYSE:VRTV traded down $0.62 during trading on Friday, reaching $16.05. The stock had a trading volume of 61,360 shares, compared to its average volume of 93,115. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.32 and a current ratio of 2.00. The business has a fifty day moving average price of $19.21 and a 200-day moving average price of $17.38. Veritiv Corp has a 1-year low of $12.83 and a 1-year high of $36.70.
Veritiv (NYSE:VRTV) last issued its quarterly earnings results on Tuesday, November 5th. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.26). The firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $2.04 billion. Veritiv had a negative return on equity of 2.27% and a negative net margin of 0.29%. The business’s revenue was down 12.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.09 earnings per share. As a group, equities research analysts expect that Veritiv Corp will post -1.75 earnings per share for the current fiscal year.
Veritiv Corporation operates as a business-to-business distributor of packaging, facility solutions, print, and publishing products and services in the United States, Canada, Mexico, and internationally. It operates through four segments: Packaging, Facility Solutions, Print, and Publishing. The Packaging segment offers standard, custom, and comprehensive packaging solutions.