Two Sigma Investments LP Trims Holdings in Veritiv Corp (NYSE:VRTV)

Two Sigma Investments LP decreased its position in Veritiv Corp (NYSE:VRTV) by 76.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,424 shares of the basic materials company’s stock after selling 66,872 shares during the period. Two Sigma Investments LP owned 0.13% of Veritiv worth $161,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Marshall Wace LLP purchased a new position in Veritiv in the 1st quarter valued at approximately $341,000. California Public Employees Retirement System boosted its stake in Veritiv by 30.6% during the 4th quarter. California Public Employees Retirement System now owns 20,498 shares of the basic materials company’s stock worth $403,000 after purchasing an additional 4,800 shares during the period. Rhumbline Advisers grew its holdings in shares of Veritiv by 4.9% during the fourth quarter. Rhumbline Advisers now owns 43,867 shares of the basic materials company’s stock worth $863,000 after buying an additional 2,061 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Veritiv by 13.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 406,950 shares of the basic materials company’s stock valued at $8,005,000 after purchasing an additional 46,835 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in Veritiv by 264.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,867 shares of the basic materials company’s stock worth $37,000 after buying an additional 1,355 shares during the last quarter. 93.29% of the stock is owned by institutional investors.

NYSE VRTV opened at $15.94 on Wednesday. The company has a current ratio of 2.24, a quick ratio of 1.54 and a debt-to-equity ratio of 1.40. Veritiv Corp has a 52 week low of $5.70 and a 52 week high of $24.66. The company has a 50-day moving average price of $14.14 and a two-hundred day moving average price of $13.18. The stock has a market cap of $241.49 million, a price-to-earnings ratio of -79.70 and a beta of 1.90.

Veritiv (NYSE:VRTV) last posted its quarterly earnings data on Wednesday, May 6th. The basic materials company reported ($0.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.22) by $1.20. The company had revenue of $1.71 billion during the quarter. Veritiv had a negative net margin of 0.04% and a positive return on equity of 1.56%. As a group, equities research analysts expect that Veritiv Corp will post 0.45 earnings per share for the current fiscal year.

VRTV has been the topic of a number of research reports. Bank of America raised shares of Veritiv from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $23.00 to $16.00 in a research note on Friday, March 6th. ValuEngine cut shares of Veritiv from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 2nd. Finally, Zacks Investment Research raised Veritiv from a “hold” rating to a “strong-buy” rating and set a $11.00 price objective on the stock in a research note on Saturday, May 16th.

In other news, CEO Mary A. Laschinger purchased 3,000 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was bought at an average cost of $9.30 per share, for a total transaction of $27,900.00. Following the completion of the acquisition, the chief executive officer now directly owns 300,669 shares of the company’s stock, valued at $2,796,221.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.30% of the stock is owned by insiders.

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, 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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