Hsbc Holdings PLC Trims Holdings in Veritiv Co. (NYSE:VRTV)

Hsbc Holdings PLC trimmed its stake in Veritiv Co. (NYSE:VRTV – Get Rating) by 30.0% during the third quarter, Holdings Channel.com reports. The fund owned 2,725 shares of the basic materials company’s stock after selling 1,167 shares during the period. Hsbc Holdings PLC’s holdings in Veritiv were worth $269,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Inspire Investing LLC grew its holdings in Veritiv by 9.4% during the 3rd quarter. Inspire Investing LLC now owns 2,130 shares of the basic materials company’s stock worth $208,000 after acquiring an additional 183 shares in the last quarter. Money Concepts Capital Corp lifted its position in Veritiv by 5.0% in the third quarter. Money Concepts Capital Corp now owns 2,497 shares of the basic materials company’s stock valued at $244,000 after purchasing an additional 120 shares during the period. Skandinaviska Enskilda Banken AB publ acquired a new stake in Veritiv in the third quarter valued at about $587,000. Towle & Co lifted its position in shares of Veritiv by 101.5% during the 2nd quarter. Towle & Co now owns 5,360 shares of the basic materials company’s stock valued at $582,000 after acquiring an additional 2,700 shares during the period. Finally, Prudential Financial Inc. lifted its position in shares of Veritiv by 113.7% during the 2nd quarter. Prudential Financial Inc. now owns 232,211 shares of the basic materials company’s stock valued at $25,207,000 after acquiring an additional 123,545 shares during the period. Institutional investors and hedge funds own 97.74% of the company’s stock.

Veritiv Trading Up 2.3 %

Shares of VRTV opened at $132.11 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.01 and a quick ratio of 1.42. The firm has a 50 day simple moving average of $128.83 and a 200-day simple moving average of $123.00. Veritiv Co. has a 1-year low of $94.50 and a 1-year high of $161.84. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 5.67, a price-to-earnings-growth ratio of 0.40 and a beta of 2.07.

Veritiv Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Thursday, March 9th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Wednesday, March 8th. This represents a $2.52 annualized dividend and a yield of 1.91%. Veritiv’s payout ratio is currently 10.82%.

Veritiv Company Profile

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Veritiv Corp. operates as a business-to-business distributor of print, publishing, packaging, facility solutions, print and publishing products and services. The firm provides logistics and supply chain management solutions to its customers. It operates through the following segments: Print, Publishing, Packaging and Facility Solutions.