Capstone Asset Management Co. cut its stake in shares of Veritiv Corp. (NYSE:VRTV) by 7.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,186 shares of the company’s stock after selling 610 shares during the period. Capstone Asset Management Co.’s holdings in Veritiv Corp. were worth $270,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Royal Bank of Canada raised its position in shares of Veritiv Corp. by 85.6% in the first quarter. Royal Bank of Canada now owns 3,322 shares of the company’s stock valued at $124,000 after buying an additional 1,532 shares during the period. C M Bidwell & Associates Ltd. purchased a new stake in Veritiv Corp. during the first quarter valued at about $269,000. Menta Capital LLC purchased a new stake in Veritiv Corp. during the first quarter valued at about $421,000. Spark Investment Management LLC increased its stake in Veritiv Corp. by 505.3% in the first quarter. Spark Investment Management LLC now owns 45,400 shares of the company’s stock valued at $1,691,000 after buying an additional 37,900 shares in the last quarter. Finally, Prudential Financial Inc. increased its stake in Veritiv Corp. by 8.5% in the first quarter. Prudential Financial Inc. now owns 52,211 shares of the company’s stock valued at $1,945,000 after buying an additional 4,108 shares in the last quarter. 97.49% of the stock is currently owned by institutional investors and hedge funds.
Veritiv Corp. (NYSE:VRTV) traded down 0.36% during midday trading on Friday, hitting $49.63. The company had a trading volume of 24,729 shares. The stock has a 50 day moving average of $49.08 and a 200 day moving average of $41.51. Veritiv Corp. has a 52-week low of $27.44 and a 52-week high of $52.49. The firm has a market cap of $794.08 million, a price-to-earnings ratio of 22.19 and a beta of 1.49.
Veritiv Corp. (NYSE:VRTV) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.59 by $0.10. Veritiv Corp. had a net margin of 0.42% and a return on equity of 11.04%. The firm earned $2.10 billion during the quarter, compared to analysts’ expectations of $2.04 billion. On average, analysts anticipate that Veritiv Corp. will post $2.77 EPS for the current year.
Separately, Zacks Investment Research downgraded Veritiv Corp. from a “hold” rating to a “sell” rating in a report on Friday, August 12th.
About Veritiv Corp.
Veritiv Corporation (Veritiv) is a business-to-business distributor of print, publishing, packaging, facility and logistics solutions. The Company operates from more than 180 distribution centers primarily throughout the United States, Canada and Mexico, serving customers across a d range of industries.
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