Citigroup Inc. lessened its holdings in Veritiv Corporation (NYSE:VRTV) by 12.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,397 shares of the basic materials company’s stock after selling 1,278 shares during the quarter. Citigroup Inc. owned 0.06% of Veritiv Corporation worth $422,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Ameriprise Financial Inc. boosted its position in shares of Veritiv Corporation by 27.1% in the first quarter. Ameriprise Financial Inc. now owns 62,216 shares of the basic materials company’s stock valued at $3,223,000 after acquiring an additional 13,252 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Veritiv Corporation by 71.5% in the second quarter. Russell Investments Group Ltd. now owns 45,377 shares of the basic materials company’s stock valued at $2,043,000 after acquiring an additional 18,913 shares during the period. Morgan Stanley boosted its position in shares of Veritiv Corporation by 570.2% in the first quarter. Morgan Stanley now owns 209,167 shares of the basic materials company’s stock valued at $10,836,000 after acquiring an additional 177,956 shares during the period. Karp Capital Management Corp bought a new stake in shares of Veritiv Corporation in the first quarter valued at about $277,000. Finally, Swiss National Bank boosted its position in shares of Veritiv Corporation by 25.7% in the first quarter. Swiss National Bank now owns 19,582 shares of the basic materials company’s stock valued at $1,014,000 after acquiring an additional 4,000 shares during the period. 93.10% of the stock is owned by institutional investors.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Veritiv Corporation from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 5th. BidaskClub cut shares of Veritiv Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. Bank of America Corporation cut shares of Veritiv Corporation from a “buy” rating to a “neutral” rating and reduced their target price for the company from $64.00 to $36.00 in a research report on Thursday, August 3rd. SunTrust Banks, Inc. raised shares of Veritiv Corporation from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research report on Thursday, August 3rd. They noted that the move was a valuation call. Finally, William Blair cut shares of Veritiv Corporation from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. Veritiv Corporation has an average rating of “Hold” and an average target price of $39.20.

Shares of Veritiv Corporation (NYSE:VRTV) opened at 32.10 on Monday. The company’s 50-day moving average is $30.97 and its 200 day moving average is $39.30. Veritiv Corporation has a 52-week low of $26.85 and a 52-week high of $62.60. The company’s market cap is $503.97 million.

Veritiv Corporation (NYSE:VRTV) last issued its earnings results on Wednesday, August 2nd. The basic materials company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.56 by $0.32. Veritiv Corporation had a positive return on equity of 5.43% and a negative net margin of 0.02%. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.02 billion. The company’s quarterly revenue was down 1.5% on a year-over-year basis. On average, analysts anticipate that Veritiv Corporation will post $1.48 EPS for the current year.

In related news, Chairman Mary A. Laschinger bought 3,300 shares of the business’s stock in a transaction on Tuesday, September 12th. The stock was acquired at an average price of $30.22 per share, for a total transaction of $99,726.00. Following the purchase, the chairman now directly owns 63,993 shares in the company, valued at $1,933,868.46. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is owned by company insiders.

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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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