SG Americas Securities LLC raised its stake in Veritiv Co. (NYSE:VRTV – Get Rating) by 133.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 5,658 shares of the basic materials company’s stock after purchasing an additional 3,237 shares during the quarter. SG Americas Securities LLC’s holdings in Veritiv were worth $553,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of VRTV. Prudential Financial Inc. lifted its position in Veritiv by 113.7% in the second quarter. Prudential Financial Inc. now owns 232,211 shares of the basic materials company’s stock valued at $25,207,000 after purchasing an additional 123,545 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Veritiv by 50.4% during the first quarter. Invesco Ltd. now owns 222,863 shares of the basic materials company’s stock valued at $29,772,000 after acquiring an additional 74,654 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Veritiv by 28.2% during the first quarter. Bank of America Corp DE now owns 276,696 shares of the basic materials company’s stock valued at $36,965,000 after acquiring an additional 60,800 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Veritiv by 40.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 138,510 shares of the basic materials company’s stock valued at $18,504,000 after acquiring an additional 39,551 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Veritiv by 40.9% during the second quarter. Millennium Management LLC now owns 116,440 shares of the basic materials company’s stock valued at $12,640,000 after acquiring an additional 33,815 shares in the last quarter. Institutional investors own 97.74% of the company’s stock.
Veritiv Price Performance
Shares of Veritiv stock opened at $118.31 on Tuesday. The business has a 50 day moving average of $127.63 and a 200 day moving average of $120.44. 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 company has a market cap of $1.60 billion, a PE ratio of 5.43, a P/E/G ratio of 0.46 and a beta of 2.15. Veritiv Co. has a 52 week low of $85.57 and a 52 week high of $161.10.
Veritiv Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 19th. Shareholders of record on Friday, November 18th were issued a $0.63 dividend. The ex-dividend date was Thursday, November 17th. This represents a $2.52 dividend on an annualized basis and a yield of 2.13%. Veritiv’s dividend payout ratio (DPR) is 11.58%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on VRTV shares. Bank of America decreased their target price on Veritiv from $155.00 to $126.00 in a report on Thursday, October 13th. StockNews.com started coverage on Veritiv in a report on Wednesday, October 12th. They set a “strong-buy” rating for the company.
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).
- Get a free copy of the StockNews.com research report on Veritiv (VRTV)
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