Alps Advisors Inc. acquired a new position in shares of Veritiv Corp (NYSE:VRTV) during the second quarter, HoldingsChannel.com reports. The firm acquired 8,167 shares of the basic materials company’s stock, valued at approximately $236,000.

A number of other institutional investors also recently made changes to their positions in VRTV. Piedmont Investment Advisors LLC purchased a new position in Veritiv during the second quarter worth approximately $105,000. State Board of Administration of Florida Retirement System purchased a new position in Veritiv during the first quarter worth approximately $221,000. Hsbc Holdings PLC purchased a new position in Veritiv during the first quarter worth approximately $234,000. OMERS ADMINISTRATION Corp purchased a new position in Veritiv during the first quarter worth approximately $361,000. Finally, Aperio Group LLC lifted its position in Veritiv by 21.2% during the first quarter. Aperio Group LLC now owns 11,396 shares of the basic materials company’s stock worth $447,000 after buying an additional 1,993 shares in the last quarter. Hedge funds and other institutional investors own 95.23% of the company’s stock.

NYSE:VRTV opened at $48.45 on Friday. Veritiv Corp has a 52 week low of $20.35 and a 52 week high of $51.00. The company has a current ratio of 2.32, a quick ratio of 1.53 and a debt-to-equity ratio of 1.81. The firm has a market capitalization of $763.78 million, a price-to-earnings ratio of -57.00 and a beta of 0.56.

A number of research firms have commented on VRTV. Zacks Investment Research downgraded Veritiv from a “buy” rating to a “hold” rating in a research report on Wednesday, August 15th. TheStreet upgraded Veritiv from a “d+” rating to a “c” rating in a research report on Monday, August 13th. ValuEngine upgraded Veritiv from a “hold” rating to a “buy” rating in a research report on Friday, August 10th. Finally, SunTrust Banks lifted their target price on Veritiv to $40.00 and gave the company a “hold” rating in a research report on Friday, August 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $35.60.

Veritiv Company Profile

Veritiv Corporation operates as a business-to-business distributor of packaging, facility solutions, print, and publishing products and services in the United States, Canada, and internationally. It operates through four segments: Packaging, Facility Solutions, Print, and Publishing. The Packaging segment offers standard and custom packaging solutions.

See Also: Fiduciary

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Institutional Ownership by Quarter for Veritiv (NYSE:VRTV)

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