California Public Employees Retirement System increased its stake in shares of Veritiv Corp (NYSE:VRTV) by 24.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,516 shares of the basic materials company’s stock after purchasing an additional 16,013 shares during the quarter. California Public Employees Retirement System’s holdings in Veritiv were worth $2,385,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. BNP Paribas Arbitrage SA lifted its stake in shares of Veritiv by 53.4% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 6,782 shares of the basic materials company’s stock worth $220,000 after purchasing an additional 2,362 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in shares of Veritiv during the 3rd quarter worth $246,000. Alps Advisors Inc. purchased a new stake in shares of Veritiv during the 4th quarter worth $236,000. Aperio Group LLC increased its position in Veritiv by 86.6% during the 3rd quarter. Aperio Group LLC now owns 8,841 shares of the basic materials company’s stock valued at $287,000 after buying an additional 4,102 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Veritiv by 38.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,184 shares of the basic materials company’s stock valued at $413,000 after buying an additional 2,567 shares in the last quarter. Hedge funds and other institutional investors own 94.33% of the company’s stock.
Veritiv stock opened at $39.60 on Thursday. Veritiv Corp has a 1 year low of $20.35 and a 1 year high of $53.25. The stock has a market capitalization of $619.12, a PE ratio of -46.05, a P/E/G ratio of 1.15 and a beta of 1.16. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.53 and a current ratio of 2.33.
Several research analysts recently issued reports on VRTV shares. Bank of America set a $39.00 target price on Veritiv and gave the company a “buy” rating in a research report on Monday, March 5th. ValuEngine lowered Veritiv from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. SunTrust Banks lowered Veritiv from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Finally, Zacks Investment Research raised Veritiv from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 25th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $34.25.
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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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