Cibc World Market Inc. Reduces Holdings in Veritiv Co. (NYSE:VRTV)

Cibc World Market Inc. cut its stake in Veritiv Co. (NYSE:VRTVGet Rating) by 11.2% in the second quarter, Holdings reports. The fund owned 2,026 shares of the basic materials company’s stock after selling 255 shares during the quarter. Cibc World Market Inc.’s holdings in Veritiv were worth $220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. First Horizon Advisors Inc. lifted its holdings in shares of Veritiv by 1,106.1% in the 1st quarter. First Horizon Advisors Inc. now owns 398 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 365 shares during the last quarter. US Bancorp DE grew its holdings in shares of Veritiv by 1,390.0% during the first quarter. US Bancorp DE now owns 447 shares of the basic materials company’s stock worth $60,000 after buying an additional 417 shares during the last quarter. Carolinas Wealth Consulting LLC purchased a new position in shares of Veritiv during the first quarter worth about $67,000. Lazard Asset Management LLC increased its position in Veritiv by 243.4% in the 1st quarter. Lazard Asset Management LLC now owns 910 shares of the basic materials company’s stock valued at $121,000 after acquiring an additional 645 shares during the period. Finally, Counterpoint Mutual Funds LLC raised its stake in Veritiv by 138.8% during the 2nd quarter. Counterpoint Mutual Funds LLC now owns 1,156 shares of the basic materials company’s stock valued at $125,000 after acquiring an additional 672 shares during the last quarter. Institutional investors and hedge funds own 96.34% of the company’s stock.

Veritiv Trading Up 1.3 %

NYSE VRTV opened at $130.59 on Friday. The company has a quick ratio of 1.42, a current ratio of 1.98 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $1.76 billion, a P/E ratio of 6.00, a P/E/G ratio of 0.38 and a beta of 2.11. Veritiv Co. has a 52-week low of $85.57 and a 52-week high of $161.10. The firm has a 50-day moving average price of $112.00 and a 200 day moving average price of $121.50.

Veritiv Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 19th. Stockholders of record on Friday, November 18th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Thursday, November 17th. Veritiv’s dividend payout ratio (DPR) is 11.58%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Bank of America dropped their target price on Veritiv from $155.00 to $126.00 in a report on Thursday, October 13th. began coverage on shares of Veritiv in a research note on Wednesday, October 12th. They issued a “strong-buy” rating on the stock.

About Veritiv

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Veritiv Corporation operates as a business-to-business provider of value-added packaging products and services, as well as facility solutions, print, and publishing products and services in the United States and internationally. The company operates through four segments: Packaging, Facility Solutions, Print, and Publishing and Print Management (Publishing).

Further Reading

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Institutional Ownership by Quarter for Veritiv (NYSE:VRTV)

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