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Veritiv Co. (NYSE:VRTV) Shares Sold by State of Tennessee Treasury Department

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State of Tennessee Treasury Department decreased its position in shares of Veritiv Co. (NYSE:VRTV – Get Rating) by 5.9% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 6,607 shares of the basic materials company's stock after selling 416 shares during the period. State of Tennessee Treasury Department's holdings in Veritiv were worth $883,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. First Horizon Advisors Inc. lifted its stake in shares of Veritiv by 1,106.1% during the first quarter. First Horizon Advisors Inc. now owns 398 shares of the basic materials company's stock valued at $53,000 after buying an additional 365 shares during the period. Counterpoint Mutual Funds LLC purchased a new position in Veritiv during the first quarter worth approximately $65,000. Point72 Hong Kong Ltd purchased a new position in Veritiv during the fourth quarter worth approximately $71,000. Nisa Investment Advisors LLC raised its stake in Veritiv by 12.2% during the first quarter. Nisa Investment Advisors LLC now owns 1,310 shares of the basic materials company's stock worth $175,000 after purchasing an additional 142 shares during the period. Finally, CIBC Asset Management Inc purchased a new position in Veritiv during the fourth quarter worth approximately $204,000. Hedge funds and other institutional investors own 96.34% of the company's stock.

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Veritiv Price Performance

Veritiv stock opened at $116.35 on Friday. Veritiv Co. has a 52-week low of $79.95 and a 52-week high of $161.10. The firm has a fifty day moving average of $120.74 and a 200-day moving average of $127.43. The firm has a market capitalization of $1.62 billion, a P/E ratio of 6.67, a PEG ratio of 0.36 and a beta of 2.13. The company has a quick ratio of 1.46, a current ratio of 2.01 and a debt-to-equity ratio of 0.58.

Veritiv (NYSE:VRTV – Get Rating) last released its quarterly earnings data on Tuesday, August 9th. The basic materials company reported $6.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.50 by $1.62. Veritiv had a net margin of 3.64% and a return on equity of 41.53%. The company had revenue of $1.82 billion during the quarter. As a group, analysts predict that Veritiv Co. will post 21.25 EPS for the current year.

About Veritiv

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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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