Arizona State Retirement System Acquires 900 Shares of Veritiv Corporation (VRTV)

Arizona State Retirement System lifted its holdings in Veritiv Corporation (NYSE:VRTV) by 17.9% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 5,921 shares of the basic materials company’s stock after acquiring an additional 900 shares during the quarter. Arizona State Retirement System’s holdings in Veritiv Corporation were worth $266,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Capstone Asset Management Co. raised its holdings in Veritiv Corporation by 1.7% during the 1st quarter. Capstone Asset Management Co. now owns 6,666 shares of the basic materials company’s stock valued at $345,000 after buying an additional 110 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in Veritiv Corporation by 4.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,951 shares of the basic materials company’s stock valued at $153,000 after buying an additional 122 shares during the last quarter. Capital One National Association raised its holdings in Veritiv Corporation by 6.1% during the 2nd quarter. Capital One National Association now owns 9,665 shares of the basic materials company’s stock valued at $435,000 after buying an additional 556 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Veritiv Corporation by 44.2% during the 1st quarter. Victory Capital Management Inc. now owns 1,951 shares of the basic materials company’s stock valued at $101,000 after buying an additional 598 shares during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in Veritiv Corporation by 14.1% during the 1st quarter. Alliancebernstein L.P. now owns 4,834 shares of the basic materials company’s stock valued at $250,000 after buying an additional 598 shares during the last quarter. Hedge funds and other institutional investors own 93.10% of the company’s stock.

A number of equities research analysts recently commented on the stock. William Blair lowered shares of Veritiv Corporation from an “outperform” rating to a “market perform” rating in a report on Thursday, August 3rd. TheStreet lowered shares of Veritiv Corporation from a “c-” rating to a “d+” rating in a report on Monday, August 21st. Zacks Investment Research lowered shares of Veritiv Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Barclays PLC lowered their price target on shares of Veritiv Corporation from $35.00 to $25.00 and set an “underweight” rating for the company in a report on Monday, August 7th. Finally, SunTrust Banks, Inc. upgraded shares of Veritiv Corporation from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Thursday, August 3rd. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $45.60.

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Veritiv Corporation (VRTV) opened at 29.85 on Tuesday. The stock’s market capitalization is $468.65 million. Veritiv Corporation has a 12 month low of $26.85 and a 12 month high of $62.60. The firm’s 50-day moving average is $30.46 and its 200-day moving average is $43.28.

Veritiv Corporation (NYSE:VRTV) last released its earnings results on Wednesday, August 2nd. The basic materials company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.32. Veritiv Corporation had a positive return on equity of 5.43% and a negative net margin of 0.02%. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.02 billion. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, equities analysts expect that Veritiv Corporation will post $1.49 earnings per share for the current fiscal year.

About Veritiv Corporation

Veritiv Corporation is a business-to-business distributor of print, publishing, packaging and facility solutions. The Company also provides logistics and supply chain management solutions to its customers. The Company’s segments are Print, Publishing & Print Management (Publishing), Packaging, Facility Solutions, and Corporate & Other.

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Institutional Ownership by Quarter for Veritiv Corporation (NYSE:VRTV)

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