Veritiv Corp (VRTV) Stake Raised by Baupost Group LLC MA

Baupost Group LLC MA lifted its position in shares of Veritiv Corp (NYSE:VRTV) by 0.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,053,724 shares of the basic materials company’s stock after buying an additional 9,339 shares during the quarter. Veritiv comprises about 1.2% of Baupost Group LLC MA’s holdings, making the stock its 16th largest position. Baupost Group LLC MA owned 19.45% of Veritiv worth $99,246,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. KBC Group NV increased its position in shares of Veritiv by 70.6% during the third quarter. KBC Group NV now owns 13,699 shares of the basic materials company’s stock worth $445,000 after buying an additional 5,668 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Veritiv by 10.7% during the third quarter. Dimensional Fund Advisors LP now owns 696,156 shares of the basic materials company’s stock worth $22,626,000 after buying an additional 67,374 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of Veritiv by 69.1% during the third quarter. Schwab Charles Investment Management Inc. now owns 116,571 shares of the basic materials company’s stock worth $3,789,000 after buying an additional 47,622 shares during the period. Wells Fargo & Company MN increased its position in shares of Veritiv by 28.0% during the third quarter. Wells Fargo & Company MN now owns 20,048 shares of the basic materials company’s stock worth $651,000 after buying an additional 4,384 shares during the period. Finally, Citadel Advisors LLC increased its position in shares of Veritiv by 440.4% during the third quarter. Citadel Advisors LLC now owns 61,367 shares of the basic materials company’s stock worth $1,994,000 after buying an additional 50,011 shares during the period. Institutional investors own 90.02% of the company’s stock.

In other Veritiv news, Director Tracy A. Leinbach acquired 5,000 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were purchased at an average cost of $23.69 per share, with a total value of $118,450.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mary A. Laschinger acquired 3,300 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was acquired at an average cost of $30.22 per share, for a total transaction of $99,726.00. Following the completion of the purchase, the chairman now directly owns 63,993 shares of the company’s stock, valued at approximately $1,933,868.46. The disclosure for this purchase can be found here. Insiders acquired 28,300 shares of company stock valued at $690,776 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.

Several equities research analysts have recently weighed in on the stock. Bank of America decreased their price objective on shares of Veritiv from $36.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, November 8th. Zacks Investment Research upgraded shares of Veritiv from a “sell” rating to a “hold” rating in a report on Tuesday. Barclays reduced their price target on shares of Veritiv from $35.00 to $25.00 and set an “underweight” rating for the company in a report on Monday, August 7th. Wells Fargo & Company cut shares of Veritiv from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 8th. Finally, BidaskClub cut shares of Veritiv from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Veritiv currently has an average rating of “Hold” and an average target price of $33.00.

Veritiv Corp (NYSE VRTV) traded up $0.75 during trading hours on Tuesday, reaching $27.40. 69,500 shares of the company’s stock were exchanged, compared to its average volume of 112,718. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.36 and a quick ratio of 1.51. The firm has a market capitalization of $418.41, a PE ratio of 10.06 and a beta of 1.10. Veritiv Corp has a 1-year low of $20.35 and a 1-year high of $62.60.

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Veritiv Profile

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.

Institutional Ownership by Quarter for Veritiv (NYSE:VRTV)

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