Victory Capital Management Inc. Takes $279,000 Position in Veritiv Co. (NYSE:VRTV)

Victory Capital Management Inc. purchased a new stake in shares of Veritiv Co. (NYSE:VRTV) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 6,562 shares of the basic materials company’s stock, valued at approximately $279,000.

Several other large investors have also made changes to their positions in VRTV. Morgan Stanley lifted its holdings in shares of Veritiv by 396.8% during the fourth quarter. Morgan Stanley now owns 295,250 shares of the basic materials company’s stock valued at $6,138,000 after purchasing an additional 235,818 shares in the last quarter. Caas Capital Management LP bought a new position in Veritiv in the fourth quarter valued at about $2,607,000. Canada Pension Plan Investment Board bought a new position in Veritiv in the fourth quarter valued at about $2,050,000. BlackRock Inc. lifted its holdings in Veritiv by 4.7% in the fourth quarter. BlackRock Inc. now owns 1,939,438 shares of the basic materials company’s stock valued at $40,321,000 after acquiring an additional 86,902 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Veritiv in the fourth quarter valued at about $1,098,000. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

VRTV stock opened at $61.77 on Friday. Veritiv Co. has a fifty-two week low of $12.30 and a fifty-two week high of $67.39. The firm has a 50-day moving average price of $50.07. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.45 and a current ratio of 2.11. The company has a market capitalization of $967.63 million, a P/E ratio of 18.61 and a beta of 2.23.

Veritiv (NYSE:VRTV) last posted its quarterly earnings data on Tuesday, May 4th. The basic materials company reported $1.28 EPS for the quarter, topping the consensus estimate of $0.02 by $1.26. Veritiv had a return on equity of 14.72% and a net margin of 0.90%. On average, sell-side analysts anticipate that Veritiv Co. will post 4.5 EPS for the current year.

In related news, Director Stephen E. Macadam acquired 5,000 shares of the firm’s stock in a transaction dated Tuesday, March 23rd. The shares were purchased at an average price of $39.49 per share, with a total value of $197,450.00. Following the completion of the purchase, the director now directly owns 18,270 shares of the company’s stock, valued at $721,482.30. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.50% of the stock is owned by company insiders.

Separately, Zacks Investment Research raised Veritiv from a “hold” rating to a “strong-buy” rating and set a $54.00 target price on the stock in a report on Wednesday, May 12th.

Veritiv Company Profile

Veritiv Corporation operates as a business-to-business provider of value-added packaging products and services, as well as facility solutions, print, and publishing products and services in the United States, Canada, Mexico, and internationally. The Packaging segment provides custom and standard packaging solutions.

Further Reading: Depreciation

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Institutional Ownership by Quarter for Veritiv (NYSE:VRTV)

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