Veritiv Corporation (NYSE:VRTV) Chairman Mary A. Laschinger acquired 3,300 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was purchased at an average cost of $30.22 per share, for a total transaction of $99,726.00. Following the purchase, the chairman now directly owns 63,993 shares in the company, valued at approximately $1,933,868.46. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Veritiv Corporation (NYSE VRTV) traded up 4.68% during mid-day trading on Friday, hitting $32.45. The stock had a trading volume of 264,006 shares. Veritiv Corporation has a 1-year low of $26.85 and a 1-year high of $62.60. The stock has a 50 day moving average of $29.49 and a 200-day moving average of $42.64. The firm’s market cap is $509.47 million.
Veritiv Corporation (NYSE:VRTV) last posted its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.32. Veritiv Corporation had a positive return on equity of 5.43% and a negative net margin of 0.02%. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.02 billion. The company’s quarterly revenue was down 1.5% on a year-over-year basis. Analysts predict that Veritiv Corporation will post $1.48 EPS for the current fiscal year.
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VRTV has been the topic of a number of research reports. Zacks Investment Research raised Veritiv Corporation from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 5th. BidaskClub downgraded Veritiv Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Bank of America Corporation downgraded Veritiv Corporation from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $64.00 to $36.00 in a research note on Thursday, August 3rd. SunTrust Banks, Inc. raised Veritiv Corporation from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research note on Thursday, August 3rd. They noted that the move was a valuation call. Finally, Barclays PLC dropped their price objective on Veritiv Corporation from $35.00 to $25.00 and set an “underweight” rating on the stock in a research note on Monday, August 7th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $45.60.
Large investors have recently bought and sold shares of the business. Victory Capital Management Inc. lifted its stake in shares of Veritiv Corporation by 44.2% in the 1st quarter. Victory Capital Management Inc. now owns 1,951 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 598 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of Veritiv Corporation by 78.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 2,260 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 990 shares during the period. Mason Street Advisors LLC lifted its stake in shares of Veritiv Corporation by 30.5% in the 1st quarter. Mason Street Advisors LLC now owns 2,685 shares of the basic materials company’s stock valued at $139,000 after purchasing an additional 628 shares during the period. SG Americas Securities LLC acquired a new position in shares of Veritiv Corporation in the 2nd quarter valued at $124,000. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of Veritiv Corporation by 4.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,951 shares of the basic materials company’s stock valued at $153,000 after purchasing an additional 122 shares during the period. 93.10% of the stock is currently owned by hedge funds and other institutional investors.
Veritiv Corporation Company Profile
Veritiv Corporation is a business-to-business distributor of print, publishing, packaging and facility solutions. The Company also provides logistics and supply chain management solutions to its customers. The Company’s segments are Print, Publishing & Print Management (Publishing), Packaging, Facility Solutions, and Corporate & Other.
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