Federated Hermes Inc. increased its stake in Veritiv Co. (NYSE:VRTV – Free Report) by 3.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 93,941 shares of the basic materials company’s stock after acquiring an additional 2,920 shares during the quarter. Federated Hermes Inc. owned approximately 0.69% of Veritiv worth $12,695,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. American Century Companies Inc. lifted its position in shares of Veritiv by 17.4% in the fourth quarter. American Century Companies Inc. now owns 149,997 shares of the basic materials company’s stock valued at $18,256,000 after acquiring an additional 22,181 shares in the last quarter. CI Investments Inc. lifted its holdings in Veritiv by 8.3% in the 4th quarter. CI Investments Inc. now owns 5,073 shares of the basic materials company’s stock valued at $617,000 after purchasing an additional 389 shares in the last quarter. Range Financial Group LLC lifted its holdings in Veritiv by 3.0% in the 1st quarter. Range Financial Group LLC now owns 4,906 shares of the basic materials company’s stock valued at $663,000 after purchasing an additional 145 shares in the last quarter. Dorsey Wright & Associates acquired a new stake in Veritiv during the 4th quarter worth $75,000. Finally, ProShare Advisors LLC purchased a new stake in shares of Veritiv during the fourth quarter worth $253,000. 98.23% of the stock is currently owned by institutional investors and hedge funds.
Veritiv Trading Down 0.2 %
Shares of VRTV opened at $167.98 on Friday. The company has a current ratio of 2.20, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $131.90 and a 200 day moving average price of $126.36. Veritiv Co. has a 12-month low of $94.50 and a 12-month high of $169.85. The firm has a market capitalization of $2.28 billion, a P/E ratio of 7.56, a P/E/G ratio of 0.53 and a beta of 2.22.
Veritiv Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Thursday, August 17th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Wednesday, August 16th. Veritiv’s dividend payout ratio (DPR) is presently 11.35%.
Analyst Ratings Changes
Several equities analysts have recently weighed in on VRTV shares. StockNews.com assumed coverage on shares of Veritiv in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. Bank of America decreased their target price on shares of Veritiv from $159.00 to $158.00 in a research note on Monday, July 10th.
View Our Latest Stock Analysis on VRTV
Veritiv Profile
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.
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