DekaBank Deutsche Girozentrale boosted its position in shares of Veritiv Co. (NYSE:VRTV – Get Rating) by 1,901.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,323 shares of the basic materials company's stock after purchasing an additional 3,157 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in Veritiv were worth $322,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. US Bancorp DE boosted its position in shares of Veritiv by 1,390.0% in the 1st quarter. US Bancorp DE now owns 447 shares of the basic materials company's stock worth $60,000 after purchasing an additional 417 shares during the last quarter. Carolinas Wealth Consulting LLC acquired a new position in shares of Veritiv during the 1st quarter worth about $67,000. Lazard Asset Management LLC raised its position in shares of Veritiv by 243.4% in the 1st quarter. Lazard Asset Management LLC now owns 910 shares of the basic materials company's stock valued at $121,000 after acquiring an additional 645 shares during the period. Counterpoint Mutual Funds LLC boosted its stake in Veritiv by 138.8% during the 2nd quarter. Counterpoint Mutual Funds LLC now owns 1,156 shares of the basic materials company's stock worth $125,000 after acquiring an additional 672 shares during the last quarter. Finally, KBC Group NV acquired a new position in Veritiv during the second quarter valued at approximately $131,000. 97.74% of the stock is currently owned by institutional investors and hedge funds.
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Veritiv Price Performance
Shares of VRTV opened at $117.88 on Friday. The stock has a 50 day simple moving average of $126.64 and a 200 day simple moving average of $120.69. Veritiv Co. has a 52-week low of $85.57 and a 52-week high of $161.10. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.42 and a current ratio of 1.98. The firm has a market capitalization of $1.59 billion, a PE ratio of 5.41, a P/E/G ratio of 0.45 and a beta of 2.15.
Veritiv (NYSE:VRTV – Get Rating) last released its quarterly earnings results on Tuesday, November 8th. The basic materials company reported $5.82 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.71. Veritiv had a net
margin of 4.40% and a return on equity of 45.97%. The company had revenue of $1.80 billion during the quarter. Sell-side analysts predict that Veritiv Co. will post 23.5 EPS for the current fiscal year.
Veritiv Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, December 19th. Shareholders of record on Friday, November 18th were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend was Thursday, November 17th. Veritiv's dividend payout ratio is 11.58%.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on the stock. Bank of America cut their target price on shares of Veritiv from $155.00 to $126.00 in a report on Thursday, October 13th. StockNews.com began coverage on Veritiv in a report on Wednesday, October 12th. They set a "strong-buy" rating on the stock.
Veritiv Company Profile
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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 and internationally. The company operates through four segments: Packaging, Facility Solutions, Print, and Publishing and Print Management (Publishing).
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