Cambria Investment Management L.P. reduced its position in shares of Veritiv Co. (NYSE:VRTV – Free Report) by 9.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,616 shares of the basic materials company’s stock after selling 8,510 shares during the period. Cambria Investment Management L.P. owned about 0.58% of Veritiv worth $9,875,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Mackenzie Financial Corp boosted its position in shares of Veritiv by 3.3% during the first quarter. Mackenzie Financial Corp now owns 2,254 shares of the basic materials company’s stock worth $301,000 after buying an additional 73 shares during the period. LPL Financial LLC boosted its position in shares of Veritiv by 7.6% during the second quarter. LPL Financial LLC now owns 1,866 shares of the basic materials company’s stock worth $234,000 after buying an additional 132 shares during the period. Cerity Partners LLC purchased a new position in shares of Veritiv during the first quarter worth $506,000. Advisor Group Holdings Inc. boosted its position in shares of Veritiv by 44.7% during the fourth quarter. Advisor Group Holdings Inc. now owns 518 shares of the basic materials company’s stock worth $61,000 after buying an additional 160 shares during the period. Finally, FMR LLC boosted its position in shares of Veritiv by 1.4% during the first quarter. FMR LLC now owns 11,892 shares of the basic materials company’s stock worth $1,607,000 after buying an additional 160 shares during the period. 99.03% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Separately, StockNews.com started coverage on Veritiv in a research note on Monday. They issued a “buy” rating on the stock.
Veritiv Price Performance
Shares of NYSE VRTV remained flat at $169.75 during mid-day trading on Wednesday. The stock had a trading volume of 35,127 shares, compared to its average volume of 130,943. The stock has a market cap of $2.30 billion, a P/E ratio of 8.59, a PEG ratio of 0.54 and a beta of 2.15. The company has a quick ratio of 1.34, a current ratio of 2.02 and a debt-to-equity ratio of 0.07. Veritiv Co. has a twelve month low of $101.50 and a twelve month high of $169.94. The business’s fifty day moving average price is $169.01 and its 200-day moving average price is $145.38.
Veritiv Company Profile
Veritiv Corporation operates as a business-to-business provider of value-added packaging products and services, facility solutions, and print based products and services in the United States and internationally. It operates through Packaging, Facility Solutions, and Print segments. The Packaging segment provides packaging product materials within flexible, corrugated and fiber, ancillary packaging, rigid, and equipment categories.
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