Veritiv Co. (VRTV) To Go Ex-Dividend on August 16th

Posted by Defense World Staff on Aug 9th, 2023

Veritiv Co. (NYSE:VRTV – Get Free Report) declared a quarterly dividend on Monday, August 7th, Zacks reports. Investors of record on Thursday, August 17th will be given a dividend of 0.63 per share by the basic materials company on Wednesday, September 13th. This represents a $2.52 annualized dividend and a yield of 1.49%. The ex-dividend date is Wednesday, August 16th.

Veritiv has a dividend payout ratio of 14.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Veritiv to earn $17.60 per share next year, which means the company should continue to be able to cover its $2.52 annual dividend with an expected future payout ratio of 14.3%.

Veritiv Stock Down 0.0 %

Veritiv stock opened at $168.99 on Wednesday. The firm has a 50 day moving average price of $128.33 and a 200-day moving average price of $125.42. The company has a quick ratio of 1.43, a current ratio of 2.16 and a debt-to-equity ratio of 0.28. Veritiv has a twelve month low of $94.50 and a twelve month high of $169.85. The company has a market capitalization of $2.29 billion, a P/E ratio of 7.29, a P/E/G ratio of 0.54 and a beta of 2.22.

Veritiv (NYSE:VRTV – Get Free Report) last announced its quarterly earnings data on Tuesday, May 9th. The basic materials company reported $5.00 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.53. Veritiv had a return on equity of 42.60% and a net margin of 4.83%. The business had revenue of $1.51 billion during the quarter. As a group, equities analysts predict that Veritiv will post 20.25 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on VRTV. StockNews.com began coverage on Veritiv in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. Bank of America lowered their target price on shares of Veritiv from $159.00 to $158.00 in a report on Monday, July 10th.

View Our Latest Research Report on VRTV

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Amundi purchased a new stake in Veritiv in the fourth quarter valued at approximately $43,000. US Bancorp DE lifted its holdings in shares of Veritiv by 1,390.0% during the 1st quarter. US Bancorp DE now owns 447 shares of the basic materials company’s stock worth $60,000 after acquiring an additional 417 shares during the last quarter. Advisor Group Holdings Inc. grew its position in Veritiv by 44.7% in the fourth quarter. Advisor Group Holdings Inc. now owns 518 shares of the basic materials company’s stock worth $61,000 after acquiring an additional 160 shares in the last quarter. Carolinas Wealth Consulting LLC bought a new position in Veritiv in the first quarter valued at $67,000. Finally, Point72 Middle East FZE purchased a new stake in Veritiv during the fourth quarter valued at about $101,000. 98.23% of the stock is owned by institutional investors.

Veritiv Company Profile

(Get Free Report)

Veritiv Corporation operates as a business-to-business provider of value-added packaging products and services, facility solutions, and print based products and services in the United States and internationally. It operates through Packaging, Facility Solutions, and Print segments. The Packaging segment provides packaging product materials within flexible, corrugated and fiber, ancillary packaging, rigid, and equipment categories.