Insider Buying: Veritiv Corp (NYSE:VRTV) SVP Buys $42,500.00 in Stock

Veritiv Corp (NYSE:VRTV) SVP Daniel J. Watkoske purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 20th. The stock was acquired at an average cost of $8.50 per share, with a total value of $42,500.00. Following the completion of the acquisition, the senior vice president now directly owns 76,607 shares of the company’s stock, valued at $651,159.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Veritiv stock opened at $9.76 on Thursday. Veritiv Corp has a 1 year low of $5.70 and a 1 year high of $28.99. The business has a 50-day moving average of $10.98 and a 200-day moving average of $15.70. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.47 and a current ratio of 2.23.

Veritiv (NYSE:VRTV) last released its quarterly earnings data on Thursday, February 27th. The basic materials company reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.08). Veritiv had a negative net margin of 0.39% and a negative return on equity of 3.44%. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter last year, the firm earned $0.57 EPS. The company’s revenue for the quarter was down 17.7% on a year-over-year basis. On average, analysts anticipate that Veritiv Corp will post -1.35 earnings per share for the current fiscal year.

A number of analysts recently commented on the company. Zacks Investment Research upgraded Veritiv from a “sell” rating to a “hold” rating in a research report on Saturday, December 28th. Bank of America upgraded Veritiv from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $23.00 to $16.00 in a research report on Friday, March 6th. Finally, ValuEngine upgraded Veritiv from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd.

Large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its holdings in shares of Veritiv by 264.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,867 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 1,355 shares in the last quarter. Aigen Investment Management LP bought a new stake in Veritiv in the 4th quarter valued at approximately $116,000. Jane Street Group LLC bought a new stake in Veritiv in the 4th quarter valued at approximately $227,000. Marshall Wace LLP bought a new stake in Veritiv in the 1st quarter valued at approximately $341,000. Finally, Great West Life Assurance Co. Can bought a new stake in Veritiv in the 4th quarter valued at approximately $309,000. Institutional investors and hedge funds own 99.30% of the company’s stock.

About Veritiv

Veritiv Corporation operates as a business-to-business distributor of packaging, facility solutions, print, and publishing products and services in the United States, Canada, Mexico, and internationally. It operates through four segments: Packaging, Facility Solutions, Print, and Publishing. The Packaging segment offers standard, custom, and comprehensive packaging solutions.

See Also: Why are percentage gainers important?

Receive News & Ratings for Veritiv Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veritiv and related companies with MarketBeat.com's FREE daily email newsletter.