Alliancebernstein L.P. increased its position in Veritiv Corporation (NYSE:VRTV) by 14.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,834 shares of the basic materials company’s stock after buying an additional 598 shares during the period. Alliancebernstein L.P.’s holdings in Veritiv Corporation were worth $250,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of VRTV. Victory Capital Management Inc. increased its stake 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. Acrospire Investment Management LLC bought a new stake in Veritiv Corporation during the first quarter worth about $121,000. Mason Street Advisors LLC increased its stake 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. BNP Paribas Arbitrage SA increased its stake 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. Finally, Louisiana State Employees Retirement System increased its stake in Veritiv Corporation by 23.7% in the first quarter. Louisiana State Employees Retirement System now owns 4,700 shares of the basic materials company’s stock worth $243,000 after buying an additional 900 shares in the last quarter. 89.50% of the stock is owned by institutional investors.

Veritiv Corporation (NYSE:VRTV) traded up 0.53% during mid-day trading on Wednesday, hitting $28.70. 1,723 shares of the stock were exchanged. The stock’s market capitalization is $450.59 million. The company has a 50-day moving average of $38.08 and a 200-day moving average of $46.76. Veritiv Corporation has a 52 week low of $27.40 and a 52 week high of $62.60.

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. On average, equities analysts predict that Veritiv Corporation will post $1.45 EPS for the current fiscal year.

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A number of analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Veritiv Corporation from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 5th. BidaskClub downgraded shares of Veritiv Corporation from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Barclays PLC dropped their price objective on shares of Veritiv Corporation from $35.00 to $25.00 and set an “underweight” rating for the company in a report on Monday, August 7th. William Blair downgraded shares of Veritiv Corporation from an “outperform” rating to a “market perform” rating in a report on Thursday, August 3rd. Finally, Wells Fargo & Company raised shares of Veritiv Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday, May 18th. Three research 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. Veritiv Corporation presently has a consensus rating of “Hold” and an average 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.

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

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