Laurion Capital Management LP Acquires Shares of 5,400 Veritiv Corporation (VRTV)
Laurion Capital Management LP bought a new stake in Veritiv Corporation (NYSE:VRTV) during the first quarter, Holdings Channel reports. The fund bought 5,400 shares of the basic materials company’s stock, valued at approximately $280,000.
A number of other hedge funds have also recently bought and sold shares of VRTV. Victory Capital Management Inc. boosted its stake in Veritiv Corporation by 44.2% in the first quarter. Victory Capital Management Inc. now owns 1,951 shares of the basic materials company’s stock valued at $101,000 after buying an additional 598 shares in the last quarter. Acrospire Investment Management LLC purchased a new stake in Veritiv Corporation during the first quarter valued at about $121,000. Mason Street Advisors LLC boosted its stake in Veritiv Corporation by 30.5% in the first quarter. Mason Street Advisors LLC now owns 2,685 shares of the basic materials company’s stock valued at $139,000 after buying an additional 628 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Veritiv Corporation by 4.3% in the first quarter. BNP Paribas Arbitrage SA now owns 2,951 shares of the basic materials company’s stock valued at $153,000 after buying an additional 122 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in 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 in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.
Veritiv Corporation (NYSE:VRTV) traded up 3.14% during mid-day trading on Friday, hitting $44.30. 231,304 shares of the stock traded hands. The company’s 50 day moving average is $44.05 and its 200 day moving average is $51.05. Veritiv Corporation has a 12 month low of $34.10 and a 12 month high of $62.60. The company has a market cap of $695.07 million, a P/E ratio of 45.95 and a beta of 1.20.
Veritiv Corporation (NYSE:VRTV) last released its earnings results on Wednesday, May 3rd. The basic materials company reported $0.38 EPS for the quarter, topping the 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 firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.97 billion. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, analysts expect that Veritiv Corporation will post $2.78 earnings per share for the current fiscal year.
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Several analysts have issued reports on the stock. Zacks Investment Research cut shares of Veritiv Corporation from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 6th. Wells Fargo & Company upgraded shares of Veritiv Corporation from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 18th.
In other Veritiv Corporation news, SVP Daniel J. Watkoske purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, May 5th. The shares were bought at an average price of $41.50 per share, with a total value of $41,500.00. Following the completion of the purchase, the senior vice president now directly owns 9,146 shares in the company, valued at $379,559. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Bain Capital Investors Llc sold 1,800,000 shares of the company’s stock in a transaction on Wednesday, March 22nd. The shares were sold at an average price of $54.14, for a total transaction of $97,452,000.00. The disclosure for this sale can be found here. Insiders bought 12,100 shares of company stock worth $500,431 in the last three months. Insiders own 0.25% of the company’s stock.
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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