According to Zacks, “Verso Corporation makes printing papers used primarily in commercial printing, media and marketing applications, including magazines, catalogs, books, direct mail, corporate collateral and retail inserts. Their specialty papers are used primarily in label and converting, flexible packaging and technical paper applications. They also produce market kraft pulp, which is used to manufacture printing and writing paper grades and tissue products. Verso is headquartered in Miamisburg, Ohio, with a Technical Center in Biron, Wisconsin; seven paper mills in Maine, Maryland, Michigan, Minnesota and Wisconsin; and more than 30 distribution centers and warehouses strategically located across the country. “
Other analysts also recently issued reports about the company. B. Riley reduced their price objective on Verso from $26.00 to $17.50 and set a neutral rating for the company in a research note on Tuesday, August 6th. ValuEngine downgraded Verso from a hold rating to a sell rating in a research note on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $29.17.
Institutional investors and hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC purchased a new stake in Verso during the 2nd quarter valued at approximately $28,000. Point72 Hong Kong Ltd purchased a new stake in Verso during the 2nd quarter valued at approximately $40,000. DekaBank Deutsche Girozentrale purchased a new stake in Verso during the 2nd quarter valued at approximately $65,000. Bank of Montreal Can increased its position in Verso by 294.8% during the 2nd quarter. Bank of Montreal Can now owns 3,948 shares of the basic materials company’s stock worth $75,000 after purchasing an additional 2,948 shares during the period. Finally, Legal & General Group Plc increased its position in Verso by 24.3% during the 4th quarter. Legal & General Group Plc now owns 6,504 shares of the basic materials company’s stock worth $145,000 after purchasing an additional 1,272 shares during the period. 91.88% of the stock is owned by hedge funds and other institutional investors.
Verso Company Profile
Verso Corporation produces and sells coated papers in North America. It operates through two segments, Paper and Pulp. The company offers coated freesheet and coated groundwood, specialty, packaging, inkjet and digital, supercalendered, and uncoated freesheet papers; and bleached and unbleached market kraft pulp to manufacture printing, writing, and tissue products.
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