Hennessy Advisors Inc. Sells 1,400 Shares of Veritiv Corporation (VRTV)

Hennessy Advisors Inc. lessened its holdings in shares of Veritiv Corporation (NYSE:VRTV) by 2.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,300 shares of the basic materials company’s stock after selling 1,400 shares during the period. Hennessy Advisors Inc. owned approximately 0.44% of Veritiv Corporation worth $3,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of VRTV. Teachers Advisors LLC raised its holdings in shares of Veritiv Corporation by 34.3% during the fourth quarter. Teachers Advisors LLC now owns 29,288 shares of the basic materials company’s stock worth $1,574,000 after purchasing an additional 7,488 shares during the last quarter. Capstone Asset Management Co. raised its holdings in shares of Veritiv Corporation by 1.7% during the first quarter. Capstone Asset Management Co. now owns 6,666 shares of the basic materials company’s stock worth $345,000 after purchasing an additional 110 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Veritiv Corporation by 23.7% during the first quarter. Louisiana State Employees Retirement System now owns 4,700 shares of the basic materials company’s stock worth $243,000 after purchasing an additional 900 shares during the last quarter. Nationwide Fund Advisors raised its holdings in shares of Veritiv Corporation by 64.5% during the first quarter. Nationwide Fund Advisors now owns 15,322 shares of the basic materials company’s stock worth $794,000 after purchasing an additional 6,005 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Veritiv Corporation by 70.4% during the first quarter. Russell Investments Group Ltd. now owns 26,464 shares of the basic materials company’s stock worth $1,371,000 after purchasing an additional 10,930 shares during the last quarter. 93.10% of the stock is owned by hedge funds and other institutional investors.

Veritiv Corporation (NYSE VRTV) opened at 29.45 on Friday. The firm has a 50-day moving average of $30.74 and a 200-day moving average of $43.56. Veritiv Corporation has a 12-month low of $26.85 and a 12-month high of $62.60. The stock’s market cap is $462.37 million.

Veritiv Corporation (NYSE:VRTV) last announced its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $0.88 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.32. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.02 billion. Veritiv Corporation had a negative net margin of 0.02% and a positive return on equity of 5.43%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. Equities analysts predict that Veritiv Corporation will post $1.49 earnings per share for the current fiscal year.

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Several brokerages recently issued reports on VRTV. Zacks Investment Research raised shares of Veritiv Corporation from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 5th. BidaskClub cut shares of Veritiv Corporation from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. Wells Fargo & Company raised shares of Veritiv Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday, May 18th. Bank of America Corporation cut shares of Veritiv Corporation from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $64.00 to $36.00 in a report on Thursday, August 3rd. Finally, SunTrust Banks, Inc. raised shares of Veritiv Corporation from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a report on Thursday, August 3rd. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Veritiv Corporation currently has a consensus rating of “Hold” and an average target price of $45.60.

Veritiv Corporation Company 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.

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Institutional Ownership by Quarter for Veritiv Corporation (NYSE:VRTV)

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