Moors & Cabot Inc. increased its holdings in shares of Veritiv Corp (NYSE:VRTV) by 25.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,984 shares of the basic materials company’s stock after purchasing an additional 2,254 shares during the period. Moors & Cabot Inc.’s holdings in Veritiv were worth $290,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in VRTV. Norges Bank bought a new position in shares of Veritiv during the fourth quarter valued at approximately $10,327,000. BlackRock Inc. boosted its stake in Veritiv by 10.4% in the fourth quarter. BlackRock Inc. now owns 1,816,840 shares of the basic materials company’s stock valued at $45,366,000 after acquiring an additional 170,769 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Veritiv by 11.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,213,433 shares of the basic materials company’s stock valued at $30,299,000 after acquiring an additional 125,213 shares in the last quarter. American Century Companies Inc. acquired a new stake in Veritiv in the fourth quarter valued at approximately $2,223,000. Finally, Vanguard Group Inc boosted its stake in Veritiv by 11.3% in the third quarter. Vanguard Group Inc now owns 710,919 shares of the basic materials company’s stock valued at $25,878,000 after acquiring an additional 72,027 shares in the last quarter. Hedge funds and other institutional investors own 90.53% of the company’s stock.

Shares of VRTV opened at $19.50 on Thursday. The company has a market capitalization of $322.63 million, a price-to-earnings ratio of 8.23 and a beta of 1.14. Veritiv Corp has a twelve month low of $19.07 and a twelve month high of $51.00. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.25 and a quick ratio of 1.46.

Veritiv (NYSE:VRTV) last announced its earnings results on Thursday, February 28th. The basic materials company reported $0.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.45 by ($0.87). The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.25 billion. Veritiv had a negative net margin of 0.31% and a positive return on equity of 0.48%.

Several brokerages have weighed in on VRTV. Zacks Investment Research downgraded shares of Veritiv from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 16th. Bank of America downgraded shares of Veritiv from a “buy” rating to a “neutral” rating and lowered their target price for the company from $37.00 to $26.00 in a research note on Monday, May 13th. ValuEngine downgraded shares of Veritiv from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th. Finally, SunTrust Banks lowered their target price on shares of Veritiv to $30.00 and set a “hold” rating for the company in a research note on Wednesday, March 6th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $36.00.

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About Veritiv

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

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Institutional Ownership by Quarter for Veritiv (NYSE:VRTV)

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