Schwab Charles Investment Management Inc. boosted its holdings in Veritiv Corporation (NYSE:VRTV) by 107.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,949 shares of the basic materials company’s stock after buying an additional 35,634 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.44% of Veritiv Corporation worth $3,103,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA grew its position in shares of Veritiv Corporation by 4.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,951 shares of the basic materials company’s stock valued at $153,000 after purchasing an additional 122 shares in the last quarter. Arizona State Retirement System grew its position in shares of Veritiv Corporation by 4.1% during the 1st quarter. Arizona State Retirement System now owns 5,021 shares of the basic materials company’s stock valued at $260,000 after purchasing an additional 200 shares in the last quarter. Capital One National Association grew its position in shares of Veritiv Corporation by 6.1% during the 2nd quarter. Capital One National Association now owns 9,665 shares of the basic materials company’s stock valued at $435,000 after purchasing an additional 556 shares in the last quarter. Capstone Asset Management Co. grew its position in shares of Veritiv Corporation by 8.6% during the 2nd quarter. Capstone Asset Management Co. now owns 7,236 shares of the basic materials company’s stock valued at $326,000 after purchasing an additional 570 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in shares of Veritiv Corporation by 14.1% during the 1st quarter. Alliancebernstein L.P. now owns 4,834 shares of the basic materials company’s stock valued at $250,000 after purchasing an additional 598 shares in the last quarter. Institutional investors and hedge funds own 93.10% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This story was first published by Daily Political and is the sole property of of Daily Political. If you are viewing this story on another site, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark laws. The original version of this story can be read at https://www.dailypolitical.com/2017/10/20/schwab-charles-investment-management-inc-acquires-35634-shares-of-veritiv-corporation-vrtv.html.

Veritiv Corporation (NYSE VRTV) opened at 32.00 on Friday. The stock’s market capitalization is $502.40 million. Veritiv Corporation has a 52-week low of $26.85 and a 52-week high of $62.60. The stock’s 50 day moving average is $31.39 and its 200-day moving average is $38.93.

Veritiv Corporation (NYSE:VRTV) last posted its earnings results on Wednesday, August 2nd. The basic materials company reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.32. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Veritiv Corporation had a negative net margin of 0.02% and a positive return on equity of 5.43%. The firm’s revenue was down 1.5% compared to the same quarter last year. Equities research analysts anticipate that Veritiv Corporation will post $1.48 EPS for the current fiscal year.

VRTV has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Veritiv Corporation from a “sell” rating to a “buy” rating and set a $38.00 price target for the company in a research report on Thursday, October 5th. SunTrust Banks, Inc. upgraded shares of Veritiv Corporation from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research report on Thursday, August 3rd. They noted that the move was a valuation call. TheStreet lowered shares of Veritiv Corporation from a “c-” rating to a “d+” rating in a research report on Monday, August 21st. BidaskClub upgraded shares of Veritiv Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th. Finally, William Blair lowered shares of Veritiv Corporation from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $39.20.

In related news, Chairman Mary A. Laschinger bought 3,300 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was bought at an average cost of $30.22 per share, with a total value of $99,726.00. Following the completion of the purchase, the chairman now owns 63,993 shares of the company’s stock, valued at approximately $1,933,868.46. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.25% of the company’s stock.

About Veritiv Corporation

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)

Receive News & Ratings for Veritiv Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veritiv Corporation and related companies with MarketBeat.com's FREE daily email newsletter.