Principal Financial Group Inc. boosted its stake in Veritiv Corporation (NYSE:VRTV) by 25.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 91,267 shares of the basic materials company’s stock after buying an additional 18,343 shares during the period. Principal Financial Group Inc.’s holdings in Veritiv Corporation were worth $4,728,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in VRTV. Nationwide Fund Advisors boosted its stake in shares of Veritiv Corporation by 64.5% in the first quarter. Nationwide Fund Advisors now owns 15,322 shares of the basic materials company’s stock valued at $794,000 after buying an additional 6,005 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of 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 valued at $243,000 after buying an additional 900 shares during the last quarter. Capstone Asset Management Co. boosted its stake in shares of Veritiv Corporation by 1.7% in the first quarter. Capstone Asset Management Co. now owns 6,666 shares of the basic materials company’s stock valued at $345,000 after buying an additional 110 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of Veritiv Corporation by 34.3% in the fourth quarter. Teachers Advisors LLC now owns 29,288 shares of the basic materials company’s stock valued at $1,574,000 after buying an additional 7,488 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Veritiv Corporation during the fourth quarter valued at approximately $23,221,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Veritiv Corporation (NYSE:VRTV) opened at 42.30 on Tuesday. The company has a market cap of $663.69 million, a PE ratio of 43.88 and a beta of 1.20. The firm has a 50 day moving average price of $43.81 and a 200 day moving average price of $50.74. Veritiv Corporation has a 12-month low of $39.30 and a 12-month high of $62.60.

Veritiv Corporation (NYSE:VRTV) last released its quarterly earnings results on Wednesday, May 3rd. The basic materials company reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.17. Veritiv Corporation had a net margin of 0.19% and a return on equity of 4.32%. The business had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Veritiv Corporation’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, analysts anticipate that Veritiv Corporation will post $2.78 earnings per share for the current fiscal year.

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Several brokerages recently commented on VRTV. Zacks Investment Research raised Veritiv Corporation from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 5th. BidaskClub cut Veritiv Corporation from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. Finally, Wells Fargo & Company raised Veritiv Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday, May 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Veritiv Corporation has an average rating of “Hold” and an average target price of $61.00.

In other Veritiv Corporation news, SVP Thomas S. Lazzaro acquired 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 11th. The shares were acquired at an average cost of $40.90 per share, for a total transaction of $204,500.00. Following the completion of the acquisition, the senior vice president now directly owns 17,505 shares of the company’s stock, valued at approximately $715,954.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Daniel J. Watkoske acquired 1,000 shares of the business’s stock in a transaction that occurred on Friday, May 5th. The stock was acquired at an average price of $41.50 per share, for a total transaction of $41,500.00. Following the completion of the acquisition, the senior vice president now directly owns 9,146 shares of the company’s stock, valued at $379,559. The disclosure for this purchase can be found here. Insiders have bought 12,100 shares of company stock worth $500,431 over the last three months. 0.25% of the stock is owned by insiders.

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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