Optimum Investment Advisors Acquires New Shares in Veritiv Co. (NYSE:VRTV)


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Optimum Investment Advisors acquired a new stake in shares of Veritiv Co. (NYSE:VRTV) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 700 shares of the basic materials company’s stock, valued at approximately $30,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Citigroup Inc. raised its position in Veritiv by 273.6% during the 4th quarter. Citigroup Inc. now owns 3,116 shares of the basic materials company’s stock worth $65,000 after purchasing an additional 2,282 shares during the last quarter. Guggenheim Capital LLC bought a new position in Veritiv during the 3rd quarter worth $158,000. ExodusPoint Capital Management LP bought a new position in Veritiv during the 3rd quarter worth $175,000. KBC Group NV bought a new position in Veritiv during the 4th quarter worth $202,000. Finally, Louisiana State Employees Retirement System bought a new position in Veritiv during the 1st quarter worth $242,000. 94.75% of the stock is currently owned by institutional investors.

Several research firms have recently weighed in on VRTV. TheStreet raised Veritiv from a “d” rating to a “c-” rating in a research report on Wednesday, February 3rd. Zacks Investment Research raised Veritiv from a “hold” rating to a “strong-buy” rating and set a $48.00 price objective for the company in a research report on Friday, March 12th.

VRTV stock opened at $42.52 on Wednesday. The stock has a 50-day moving average price of $41.86 and a 200-day moving average price of $25.22. Veritiv Co. has a 1-year low of $7.04 and a 1-year high of $49.98. The company has a current ratio of 2.17, a quick ratio of 1.43 and a debt-to-equity ratio of 1.27. The firm has a market cap of $679.21 million, a PE ratio of -64.42 and a beta of 2.03.

Veritiv (NYSE:VRTV) last issued its earnings results on Tuesday, March 2nd. The basic materials company reported $1.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.73) by $2.63. The company had revenue of $1.64 billion during the quarter. Veritiv had a positive return on equity of 2.91% and a negative net margin of 0.15%. On average, analysts forecast that Veritiv Co. will post -2.1 earnings per share for the current year.

In related news, Director Stephen E. Macadam purchased 5,000 shares of the business’s stock in a transaction on Tuesday, March 23rd. The stock was acquired at an average price of $39.49 per share, for a total transaction of $197,450.00. Following the purchase, the director now owns 18,270 shares of the company’s stock, valued at $721,482.30. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.30% of the stock is currently owned by insiders.

Veritiv Company Profile

Veritiv Corporation operates as a business-to-business provider of value-added packaging products and services, as well as facility solutions, print, and publishing products and services in the United States, Canada, Mexico, and internationally. The Packaging segment provides custom and standard packaging solutions.

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Institutional Ownership by Quarter for Veritiv (NYSE:VRTV)

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