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First Quadrant L P CA Acquires 600 Shares of Veritiv Corporation (VRTV)

Veritiv Corporation logoFirst Quadrant L P CA boosted its position in Veritiv Corporation (NYSE:VRTV) by 7.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,281 shares of the basic materials company’s stock after buying an additional 600 shares during the period. First Quadrant L P CA owned approximately 0.05% of Veritiv Corporation worth $373,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its position in Veritiv Corporation by 44.2% in the first quarter. Victory Capital Management Inc. now owns 1,951 shares of the basic materials company’s stock worth $101,000 after buying an additional 598 shares in the last quarter. State of Alaska Department of Revenue increased its position in Veritiv Corporation by 78.0% in the second quarter. State of Alaska Department of Revenue now owns 2,260 shares of the basic materials company’s stock worth $101,000 after buying an additional 990 shares in the last quarter. Acrospire Investment Management LLC acquired a new position in Veritiv Corporation during the first quarter worth approximately $121,000. Mason Street Advisors LLC increased its position in Veritiv Corporation by 30.5% in the first quarter. Mason Street Advisors LLC now owns 2,685 shares of the basic materials company’s stock worth $139,000 after buying an additional 628 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in Veritiv Corporation by 4.3% in the first quarter. BNP Paribas Arbitrage SA now owns 2,951 shares of the basic materials company’s stock worth $153,000 after buying an additional 122 shares in the last quarter. Hedge funds and other institutional investors own 88.83% of the company’s stock.

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Shares of Veritiv Corporation (NYSE:VRTV) traded down 1.55% during midday trading on Thursday, reaching $28.60. 142,738 shares of the company traded hands. Veritiv Corporation has a 12-month low of $27.40 and a 12-month high of $62.60. The company has a 50-day moving average of $39.86 and a 200 day moving average of $47.65. The firm’s market capitalization is $449.02 million.

Veritiv Corporation (NYSE:VRTV) last released its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.32. Veritiv Corporation had a negative net margin of 0.02% and a positive return on equity of 5.43%. The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.02 billion. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, equities analysts forecast that Veritiv Corporation will post $1.45 earnings per share for the current year.

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VRTV has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Veritiv Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. BidaskClub downgraded shares of Veritiv Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. Bank of America Corporation downgraded shares of Veritiv Corporation from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $64.00 to $36.00 in a research note on Thursday, August 3rd. William Blair downgraded shares of Veritiv Corporation from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Finally, SunTrust Banks, Inc. upgraded shares of Veritiv Corporation from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Thursday, August 3rd. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus 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.

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

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