Swiss National Bank Holds Position in Veritiv Corp. (VRTV)
Swiss National Bank held its stake in shares of Veritiv Corp. (NYSE:VRTV) during the second quarter, Holdings Channel reports. The fund owned 14,282 shares of the company’s stock at the end of the second quarter. Swiss National Bank owned about 0.09% of Veritiv Corp. worth $537,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Royal Bank of Canada raised its position in Veritiv Corp. by 85.6% in the first quarter. Royal Bank of Canada now owns 3,322 shares of the company’s stock worth $124,000 after buying an additional 1,532 shares in the last quarter. Monarch Partners Asset Management LLC purchased a new position in Veritiv Corp. during the second quarter worth approximately $220,000. Menta Capital LLC purchased a new position in Veritiv Corp. during the first quarter worth approximately $421,000. American Century Companies Inc. purchased a new position in Veritiv Corp. during the second quarter worth approximately $762,000. Finally, Spark Investment Management LLC raised its position in Veritiv Corp. by 505.3% in the first quarter. Spark Investment Management LLC now owns 45,400 shares of the company’s stock worth $1,691,000 after buying an additional 37,900 shares in the last quarter. Hedge funds and other institutional investors own 97.49% of the company’s stock.
Veritiv Corp. (NYSE:VRTV) traded down 0.57% during midday trading on Friday, reaching $51.95. 31,202 shares of the company’s stock were exchanged. The stock has a market cap of $831.20 million, a P/E ratio of 23.22 and a beta of 1.50. Veritiv Corp. has a 1-year low of $27.44 and a 1-year high of $52.90. The firm’s 50-day moving average is $50.38 and its 200 day moving average is $43.04.
Veritiv Corp. (NYSE:VRTV) last announced its earnings results on Tuesday, August 9th. The company reported $0.49 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.59 by $0.10. Veritiv Corp. had a return on equity of 11.04% and a net margin of 0.42%. The company earned $2.10 billion during the quarter, compared to the consensus estimate of $2.04 billion. Equities analysts anticipate that Veritiv Corp. will post $2.77 earnings per share for the current fiscal year.
Separately, Zacks Investment Research lowered shares of Veritiv Corp. from a “hold” rating to a “sell” rating in a research note on Friday, August 12th.
About Veritiv Corp.
Veritiv Corporation (Veritiv) is a business-to-business distributor of print, publishing, packaging, facility and logistics solutions. The Company operates from more than 180 distribution centers primarily throughout the United States, Canada and Mexico, serving customers across a d range of industries.
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