Strs Ohio Has $956,000 Stake in Verso Corp (VRS)

Strs Ohio cut its stake in shares of Verso Corp (NYSE:VRS) by 35.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 28,400 shares of the basic materials company’s stock after selling 15,500 shares during the period. Strs Ohio’s holdings in Verso were worth $956,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. BlackRock Inc. increased its holdings in Verso by 22.2% in the 1st quarter. BlackRock Inc. now owns 2,044,192 shares of the basic materials company’s stock worth $34,424,000 after buying an additional 371,066 shares in the last quarter. Sei Investments Co. increased its holdings in Verso by 131.9% in the 2nd quarter. Sei Investments Co. now owns 25,525 shares of the basic materials company’s stock worth $556,000 after buying an additional 14,520 shares in the last quarter. Macquarie Group Ltd. increased its holdings in Verso by 7.0% in the 2nd quarter. Macquarie Group Ltd. now owns 42,600 shares of the basic materials company’s stock worth $927,000 after buying an additional 2,800 shares in the last quarter. Capital Fund Management S.A. bought a new stake in Verso in the 2nd quarter worth about $244,000. Finally, Swiss National Bank bought a new stake in Verso in the 2nd quarter worth about $1,297,000. Hedge funds and other institutional investors own 87.38% of the company’s stock.

VRS has been the subject of several research analyst reports. B. Riley lifted their price objective on Verso from $34.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, September 25th. ValuEngine downgraded Verso from a “buy” rating to a “hold” rating in a report on Friday, October 12th. Zacks Investment Research downgraded Verso from a “buy” rating to a “hold” rating in a report on Sunday, July 15th. Finally, BWS Financial lifted their price objective on Verso from $32.00 to $40.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 8th.

NYSE VRS opened at $29.32 on Friday. Verso Corp has a one year low of $6.96 and a one year high of $34.60. The stock has a market capitalization of $1.01 billion, a P/E ratio of -39.09 and a beta of 2.23. The company has a quick ratio of 0.69, a current ratio of 1.78 and a debt-to-equity ratio of 0.19.

Verso (NYSE:VRS) last released its quarterly earnings data on Tuesday, August 7th. The basic materials company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.02 by $0.01. The company had revenue of $644.00 million during the quarter, compared to the consensus estimate of $632.42 million. Verso had a return on equity of 8.36% and a net margin of 1.53%. On average, sell-side analysts expect that Verso Corp will post 3.09 EPS for the current year.

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, inkjet and digital, supercalendered, and uncoated freesheet papers; and northern bleached hardwood Kraft pulp to manufacture printing, writing, and specialty paper grades, as well as to manufacture tissue products.

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Institutional Ownership by Quarter for Verso (NYSE:VRS)

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