Insider Selling: Veritiv Corp (NYSE:VRTV) VP Sells $47,725.00 in Stock

Veritiv Corp (NYSE:VRTV) VP John G. Biscanti sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $19.09, for a total value of $47,725.00. Following the completion of the transaction, the vice president now owns 6,173 shares of the company’s stock, valued at $117,842.57. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Shares of VRTV opened at $18.24 on Thursday. The stock has a market cap of $307.36 million, a PE ratio of 7.70 and a beta of 1.45. Veritiv Corp has a 1 year low of $17.38 and a 1 year high of $51.00. The business’s 50 day moving average price is $19.86. The company has a quick ratio of 1.46, a current ratio of 2.25 and a debt-to-equity ratio of 1.80.

Veritiv (NYSE:VRTV) last issued its quarterly earnings data on Thursday, May 9th. The basic materials company reported ($1.68) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($2.11). The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Veritiv had a positive return on equity of 0.48% and a negative net margin of 0.31%. The firm’s revenue was down 7.6% on a year-over-year basis. During the same period last year, the company earned $0.28 earnings per share.

VRTV has been the subject of several recent analyst reports. Bank of America downgraded Veritiv from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $37.00 to $26.00 in a research note on Monday, May 13th. ValuEngine downgraded Veritiv from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th. SunTrust Banks dropped their price target on Veritiv to $30.00 and set a “hold” rating for the company in a research note on Wednesday, March 6th. Finally, Zacks Investment Research downgraded Veritiv from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Veritiv has a consensus rating of “Hold” and an average target price of $36.00.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Veritiv by 10.4% during the 4th quarter. BlackRock Inc. now owns 1,816,840 shares of the basic materials company’s stock worth $45,366,000 after acquiring an additional 170,769 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Veritiv by 11.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,213,433 shares of the basic materials company’s stock worth $30,299,000 after acquiring an additional 125,213 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Veritiv by 42.4% during the 1st quarter. JPMorgan Chase & Co. now owns 433,601 shares of the basic materials company’s stock worth $11,413,000 after acquiring an additional 129,074 shares in the last quarter. Norges Bank purchased a new stake in shares of Veritiv during the 4th quarter worth approximately $10,327,000. Finally, Prudential Financial Inc. raised its holdings in shares of Veritiv by 52.4% during the 4th quarter. Prudential Financial Inc. now owns 159,377 shares of the basic materials company’s stock worth $3,979,000 after acquiring an additional 54,765 shares in the last quarter. 91.63% of the stock is currently owned by institutional investors and hedge funds.

Veritiv Company Profile

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.

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