Vaughan Nelson Investment Management L.P. Purchases Shares of 331,875 Veritiv (VRTV)

Vaughan Nelson Investment Management L.P. purchased a new stake in Veritiv (NYSE:VRTV) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 331,875 shares of the basic materials company’s stock, valued at approximately $13,010,000. Vaughan Nelson Investment Management L.P. owned approximately 2.11% of Veritiv as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. grew its stake in shares of Veritiv by 5.3% in the 4th quarter. BlackRock Inc. now owns 1,508,307 shares of the basic materials company’s stock valued at $43,589,000 after buying an additional 75,264 shares in the last quarter. Donald Smith & CO. Inc. lifted its holdings in Veritiv by 354.9% in the 4th quarter. Donald Smith & CO. Inc. now owns 261,004 shares of the basic materials company’s stock worth $7,543,000 after purchasing an additional 203,623 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Veritiv by 24.9% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 203,553 shares of the basic materials company’s stock worth $7,980,000 after purchasing an additional 40,623 shares during the last quarter. OppenheimerFunds Inc. lifted its holdings in Veritiv by 5.0% in the 4th quarter. OppenheimerFunds Inc. now owns 190,850 shares of the basic materials company’s stock worth $5,515,000 after purchasing an additional 9,052 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Veritiv by 1.5% in the 1st quarter. Northern Trust Corp now owns 139,492 shares of the basic materials company’s stock worth $5,469,000 after purchasing an additional 1,997 shares during the last quarter. 93.33% of the stock is owned by institutional investors and hedge funds.

Several research firms recently weighed in on VRTV. ValuEngine lowered Veritiv from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Zacks Investment Research upgraded Veritiv from a “hold” rating to a “strong-buy” rating and set a $33.00 target price for the company in a report on Saturday, February 3rd. Wells Fargo & Co boosted their target price on Veritiv from $30.00 to $33.00 and gave the stock a “market perform” rating in a report on Monday, April 2nd. They noted that the move was a valuation call. SunTrust Banks lowered Veritiv from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Finally, Bank of America lowered Veritiv from a “buy” rating to a “neutral” rating and set a $41.00 target price for the company. in a report on Monday, April 2nd. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $34.40.

VRTV opened at $33.10 on Friday. Veritiv has a twelve month low of $20.35 and a twelve month high of $46.10. The company has a market capitalization of $531.41 million, a P/E ratio of -38.94, a P/E/G ratio of 1.53 and a beta of 0.55. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.43 and a quick ratio of 1.60.

Veritiv (NYSE:VRTV) last issued its quarterly earnings results on Tuesday, May 8th. The basic materials company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.15). Veritiv had a positive return on equity of 8.92% and a negative net margin of 0.32%. The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the firm earned ($0.14) earnings per share. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. equities analysts expect that Veritiv will post 3.67 earnings per share for the current year.

Veritiv Company Profile

Veritiv Corporation operates as a business-to-business distributor of packaging, facility solutions, print, and publishing products and services in the United States, Canada, and internationally. It operates through four segments: Packaging, Facility Solutions, Print, and Publishing. The Packaging segment offers standard and custom packaging solutions.

Institutional Ownership by Quarter for Veritiv (NYSE:VRTV)

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