Comerica Bank lessened its stake in Veritiv Co. (NYSE:VRTV – Get Rating) by 10.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,648 shares of the basic materials company’s stock after selling 1,205 shares during the period. Comerica Bank owned approximately 0.08% of Veritiv worth $1,136,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Money Concepts Capital Corp boosted its stake in shares of Veritiv by 5.0% in the 3rd quarter. Money Concepts Capital Corp now owns 2,497 shares of the basic materials company’s stock worth $244,000 after buying an additional 120 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in Veritiv by 4.1% in the third quarter. Janney Montgomery Scott LLC now owns 18,234 shares of the basic materials company’s stock worth $1,783,000 after purchasing an additional 714 shares during the last quarter. Versor Investments LP grew its stake in shares of Veritiv by 63.9% during the 3rd quarter. Versor Investments LP now owns 4,890 shares of the basic materials company’s stock valued at $478,000 after purchasing an additional 1,906 shares during the period. Louisiana State Employees Retirement System purchased a new stake in shares of Veritiv during the 3rd quarter valued at about $655,000. Finally, Bailard Inc. bought a new position in shares of Veritiv in the 3rd quarter worth approximately $244,000. 97.74% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have commented on VRTV. StockNews.com assumed coverage on shares of Veritiv in a report on Wednesday, October 12th. They set a “strong-buy” rating for the company. Bank of America decreased their target price on Veritiv from $155.00 to $126.00 in a report on Thursday, October 13th.
Veritiv Stock Down 1.1 %
Veritiv (NYSE:VRTV – Get Rating) last posted its quarterly earnings results on Tuesday, November 8th. The basic materials company reported $5.82 earnings per share for the quarter, topping analysts’ consensus estimates of $5.11 by $0.71. The business had revenue of $1.80 billion during the quarter. Veritiv had a net margin of 4.40% and a return on equity of 45.97%. On average, equities research analysts forecast that Veritiv Co. will post 23.5 EPS for the current year.
Veritiv Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 19th. Stockholders of record on Friday, November 18th were given a $0.63 dividend. The ex-dividend date of this dividend was Thursday, November 17th. This represents a $2.52 annualized dividend and a dividend yield of 2.15%. Veritiv’s payout ratio is 11.58%.
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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