Bank of New York Mellon Corp decreased its stake in Veritiv Corp. (NYSE:VRTV) by 7.3% during the second quarter, Holdings Channel reports. The institutional investor owned 80,074 shares of the company’s stock after selling 6,312 shares during the period. Bank of New York Mellon Corp owned 0.50% of Veritiv Corp. worth $3,009,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of VRTV. Monarch Partners Asset Management LLC purchased a new stake in Veritiv Corp. during the second quarter valued at $220,000. American Century Companies Inc. purchased a new stake in Veritiv Corp. during the second quarter valued at $762,000. Royal Bank of Canada boosted its stake in 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 in the last quarter. Geode Capital Management LLC boosted its stake in Veritiv Corp. by 1.1% in the first quarter. Geode Capital Management LLC now owns 52,784 shares of the company’s stock valued at $1,966,000 after buying an additional 564 shares in the last quarter. Finally, Spark Investment Management LLC boosted 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. 97.49% of the stock is owned by institutional investors and hedge funds.
Veritiv Corp. (NYSE:VRTV) traded up 2.39% on Friday, hitting $50.17. 97,221 shares of the stock were exchanged. Veritiv Corp. has a 52-week low of $27.44 and a 52-week high of $52.49. The company has a 50-day moving average price of $49.80 and a 200-day moving average price of $42.03. The firm has a market cap of $802.72 million, a PE ratio of 22.43 and a beta of 1.49.
Veritiv Corp. (NYSE:VRTV) last released its earnings results on Tuesday, August 9th. The company reported $0.49 EPS for the quarter, missing the Zacks’ consensus estimate of $0.59 by $0.10. The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.04 billion. Veritiv Corp. had a return on equity of 11.04% and a net margin of 0.42%. On average, equities research analysts anticipate that Veritiv Corp. will post $2.77 EPS for the current fiscal year.
Separately, Zacks Investment Research cut shares of Veritiv Corp. from a “hold” rating to a “sell” rating in a research 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.
Want to see what other hedge funds are holding VRTV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Veritiv Corp. (NYSE:VRTV).
Receive News & Ratings for Veritiv Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veritiv Corp. and related companies with MarketBeat.com's FREE daily email newsletter.