Capstone Asset Management Co. Has $326,000 Stake in Veritiv Corporation (VRTV)
Capstone Asset Management Co. increased its position in Veritiv Corporation (NYSE:VRTV) by 8.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,236 shares of the basic materials company’s stock after buying an additional 570 shares during the period. Capstone Asset Management Co.’s holdings in Veritiv Corporation were worth $326,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Ameriprise Financial Inc. boosted its position in shares of Veritiv Corporation by 27.1% in the first quarter. Ameriprise Financial Inc. now owns 62,216 shares of the basic materials company’s stock worth $3,223,000 after buying an additional 13,252 shares during the period. Karp Capital Management Corp bought a new position in shares of Veritiv Corporation during the first quarter worth approximately $277,000. Morgan Stanley boosted its position in shares of Veritiv Corporation by 570.2% in the first quarter. Morgan Stanley now owns 209,167 shares of the basic materials company’s stock worth $10,836,000 after buying an additional 177,956 shares during the period. Renaissance Technologies LLC boosted its position in shares of Veritiv Corporation by 42.4% in the fourth quarter. Renaissance Technologies LLC now owns 14,100 shares of the basic materials company’s stock worth $758,000 after buying an additional 4,200 shares during the period. Finally, Swiss National Bank boosted its position in shares of Veritiv Corporation by 25.7% in the first quarter. Swiss National Bank now owns 19,582 shares of the basic materials company’s stock worth $1,014,000 after buying an additional 4,000 shares during the period. 88.83% of the stock is currently owned by institutional investors and hedge funds.
Veritiv Corporation (NYSE VRTV) traded up 0.70% during trading on Friday, hitting $28.80. The stock had a trading volume of 133,923 shares. The stock has a 50 day moving average price of $38.99 and a 200-day moving average price of $47.32. The stock’s market cap is $452.16 million. Veritiv Corporation has a 12 month low of $27.40 and a 12 month high of $62.60.
Veritiv Corporation (NYSE:VRTV) last announced its earnings results on Wednesday, August 2nd. The basic materials company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.32. The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Veritiv Corporation had a positive return on equity of 5.43% and a negative net margin of 0.02%. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, equities analysts predict that Veritiv Corporation will post $1.45 EPS for the current year.
A number of equities analysts have commented on VRTV shares. Zacks Investment Research cut Veritiv Corporation from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 6th. BidaskClub cut Veritiv Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Wells Fargo & Company raised Veritiv Corporation from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 18th. SunTrust Banks, Inc. raised Veritiv Corporation from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research note on Thursday, August 3rd. They noted that the move was a valuation call. Finally, Barclays PLC reduced their target price on Veritiv Corporation from $35.00 to $25.00 and set an “underweight” rating on the stock in a research note on Monday, August 7th. Three analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Veritiv Corporation has an average rating of “Hold” and an average price target of $45.60.
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.
Want to see what other hedge funds are holding VRTV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Veritiv Corporation (NYSE:VRTV).
Receive News & Ratings for Veritiv Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veritiv Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.