Algert Global LLC acquired a new position in shares of Veritiv Co. (NYSE:VRTV) during the second quarter, HoldingsChannel.com reports. The fund acquired 12,520 shares of the basic materials company’s stock, valued at approximately $769,000.
Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of Veritiv by 9.5% during the first quarter. BlackRock Inc. now owns 2,124,151 shares of the basic materials company’s stock valued at $90,360,000 after purchasing an additional 184,713 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of Veritiv by 321.0% during the 1st quarter. Prudential Financial Inc. now owns 189,197 shares of the basic materials company’s stock valued at $8,049,000 after acquiring an additional 144,253 shares during the last quarter. Kennedy Capital Management Inc. purchased a new stake in shares of Veritiv in the first quarter valued at $5,043,000. Renaissance Technologies LLC lifted its holdings in shares of Veritiv by 43.3% in the first quarter. Renaissance Technologies LLC now owns 328,800 shares of the basic materials company’s stock valued at $13,987,000 after purchasing an additional 99,300 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Veritiv in the first quarter valued at $4,209,000. Institutional investors and hedge funds own 92.83% of the company’s stock.
Shares of NYSE VRTV traded up $1.29 during mid-day trading on Thursday, reaching $97.18. The company had a trading volume of 9 shares, compared to its average volume of 225,343. Veritiv Co. has a twelve month low of $14.00 and a twelve month high of $99.94. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.35 and a current ratio of 1.98. The stock has a market capitalization of $1.45 billion, a PE ratio of 15.72 and a beta of 2.27. The stock’s 50 day moving average is $87.75 and its 200-day moving average is $65.88.
A number of analysts have recently issued reports on VRTV shares. Bank of America increased their target price on Veritiv from $72.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, August 10th. Zacks Investment Research downgraded shares of Veritiv from a “strong-buy” rating to a “hold” rating in a research note on Tuesday.
Veritiv Corp. engages in business-to-business distributor of print, publishing, packaging, facility solutions, print and publishing products and services. The firm provides logistics and supply chain management solutions to its customers. It operates through the following segments: Print, Publishing, Packaging and Facility Solutions.
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