American International Group Inc. Cuts Stake in Veritiv Co. (NYSE:VRTV)

American International Group Inc. cut its stake in Veritiv Co. (NYSE:VRTV) by 1.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,064 shares of the basic materials company’s stock after selling 98 shares during the quarter. American International Group Inc. owned about 0.05% of Veritiv worth $887,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. WealthPLAN Partners LLC acquired a new position in shares of Veritiv in the first quarter worth about $27,000. Worth Asset Management LLC bought a new stake in Veritiv in the second quarter valued at about $39,000. Amundi bought a new stake in Veritiv in the fourth quarter valued at about $43,000. US Bancorp DE increased its holdings in Veritiv by 1,390.0% in the first quarter. US Bancorp DE now owns 447 shares of the basic materials company’s stock valued at $60,000 after buying an additional 417 shares during the last quarter. Finally, Advisor Group Holdings Inc. increased its holdings in Veritiv by 44.7% in the fourth quarter. Advisor Group Holdings Inc. now owns 518 shares of the basic materials company’s stock valued at $61,000 after buying an additional 160 shares during the last quarter. 99.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Veritiv in a report on Monday. They issued a “buy” rating for the company.

Veritiv Stock Down 0.0 %

NYSE:VRTV opened at $169.74 on Thursday. The firm has a market capitalization of $2.30 billion, a PE ratio of 8.59, a price-to-earnings-growth ratio of 0.54 and a beta of 2.15. The stock has a 50 day moving average of $169.03 and a 200-day moving average of $145.55. Veritiv Co. has a 52 week low of $101.50 and a 52 week high of $169.94. The company has a current ratio of 2.02, a quick ratio of 1.34 and a debt-to-equity ratio of 0.07.

About Veritiv

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.