Renaissance Technologies LLC Decreases Stake in Veritiv Co. (NYSE:VRTV)

Posted by on Mar 6th, 2023

Renaissance Technologies LLC lessened its holdings in shares of Veritiv Co. (NYSE:VRTV – Get Rating) by 14.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,300 shares of the basic materials company’s stock after selling 18,400 shares during the period. Renaissance Technologies LLC owned approximately 0.80% of Veritiv worth $10,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in VRTV. Prudential Financial Inc. raised its holdings in shares of Veritiv by 113.7% during the second quarter. Prudential Financial Inc. now owns 232,211 shares of the basic materials company’s stock worth $25,207,000 after purchasing an additional 123,545 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Veritiv by 50.4% during the first quarter. Invesco Ltd. now owns 222,863 shares of the basic materials company’s stock worth $29,772,000 after purchasing an additional 74,654 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Veritiv by 40.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 138,510 shares of the basic materials company’s stock worth $18,504,000 after purchasing an additional 39,551 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Veritiv by 40.9% during the second quarter. Millennium Management LLC now owns 116,440 shares of the basic materials company’s stock worth $12,640,000 after purchasing an additional 33,815 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Veritiv by 2.4% during the first quarter. Vanguard Group Inc. now owns 939,978 shares of the basic materials company’s stock worth $125,572,000 after purchasing an additional 21,735 shares during the last quarter. Hedge funds and other institutional investors own 97.74% of the company’s stock.

Veritiv Trading Down 2.7 %

Shares of Veritiv stock opened at $141.00 on Monday. The stock has a market cap of $1.91 billion, a PE ratio of 6.05, a price-to-earnings-growth ratio of 0.44 and a beta of 2.07. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.01 and a quick ratio of 1.42. The firm has a fifty day moving average price of $128.41 and a 200 day moving average price of $122.97. Veritiv Co. has a 1 year low of $94.50 and a 1 year high of $161.84.

Veritiv Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Thursday, March 9th will be given a dividend of $0.63 per share. The ex-dividend date is Wednesday, March 8th. This represents a $2.52 annualized dividend and a yield of 1.79%. Veritiv’s dividend payout ratio is presently 10.82%.

About Veritiv

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Veritiv Corp. operates as a business-to-business distributor of print, publishing, packaging, facility solutions, print and publishing products and services. The firm provides logistics and supply chain management solutions to its customers. It operates through the following segments: Print, Publishing, Packaging and Facility Solutions.

See Also

Institutional Ownership by Quarter for Veritiv (NYSE:VRTV)

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