Veritiv Co. (NYSE:VRTV – Get Rating) was the target of a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 540,600 shares, a growth of 62.2% from the June 15th total of 333,300 shares. Based on an average daily trading volume, of 121,000 shares, the days-to-cover ratio is currently 4.5 days. Currently, 4.0% of the shares of the company are sold short.
Hedge Funds Weigh In On Veritiv
Large investors have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. grew its position in Veritiv by 1,106.1% during the 1st quarter. First Horizon Advisors Inc. now owns 398 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 365 shares during the last quarter. US Bancorp DE grew its holdings in shares of Veritiv by 1,390.0% in the first quarter. US Bancorp DE now owns 447 shares of the basic materials company’s stock worth $60,000 after purchasing an additional 417 shares during the last quarter. National Bank of Canada FI purchased a new position in shares of Veritiv in the fourth quarter worth $61,000. Counterpoint Mutual Funds LLC bought a new stake in Veritiv during the 1st quarter valued at $65,000. Finally, Carolinas Wealth Consulting LLC purchased a new stake in Veritiv during the 1st quarter valued at $67,000. Hedge funds and other institutional investors own 88.32% of the company’s stock.
Wall Street Analyst Weigh In
Separately, StockNews.com began coverage on Veritiv in a research note on Thursday, March 31st. They set a “strong-buy” rating for the company.
Veritiv Stock Performance
Shares of VRTV traded up $3.71 during trading hours on Friday, hitting $105.47. The company’s stock had a trading volume of 106,052 shares, compared to its average volume of 140,709. The business has a 50 day simple moving average of $127.26 and a two-hundred day simple moving average of $121.09. Veritiv has a 52-week low of $55.28 and a 52-week high of $161.10. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.96 and a quick ratio of 1.52. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 8.14, a PEG ratio of 0.38 and a beta of 2.15.
Veritiv (NYSE:VRTV – Get Rating) last announced its quarterly earnings results on Monday, May 9th. The basic materials company reported $5.12 earnings per share for the quarter, beating the consensus estimate of $3.73 by $1.39. The company had revenue of $1.86 billion during the quarter. Veritiv had a return on equity of 33.45% and a net margin of 2.82%. During the same quarter last year, the firm posted $1.28 earnings per share. On average, equities analysts expect that Veritiv will post 18.4 earnings per share for the current fiscal year.
Veritiv Company Profile
Veritiv Corporation operates as a business-to-business provider of value-added packaging products and services, as well as facility solutions, print, and publishing products and services in the United States and internationally. The company operates through four segments: Packaging, Facility Solutions, Print, and Publishing and Print Management (Publishing).
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