Verso Co. (NYSE:VRS) Shares Sold by Dimensional Fund Advisors LP


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Dimensional Fund Advisors LP lessened its stake in shares of Verso Co. (NYSE:VRS) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,754,786 shares of the basic materials company’s stock after selling 68,841 shares during the quarter. Dimensional Fund Advisors LP owned about 0.08% of Verso worth $33,113,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Citigroup Inc. increased its stake in shares of Verso by 196.5% during the fourth quarter. Citigroup Inc. now owns 6,262 shares of the basic materials company’s stock valued at $75,000 after acquiring an additional 4,150 shares during the period. Mackenzie Financial Corp increased its stake in shares of Verso by 24.2% during the fourth quarter. Mackenzie Financial Corp now owns 25,650 shares of the basic materials company’s stock valued at $308,000 after acquiring an additional 5,000 shares during the period. Paragon Associates & Paragon Associates II Joint Venture acquired a new position in shares of Verso during the fourth quarter valued at approximately $1,771,000. Russell Investments Group Ltd. increased its stake in shares of Verso by 37.6% during the fourth quarter. Russell Investments Group Ltd. now owns 184,747 shares of the basic materials company’s stock valued at $2,218,000 after acquiring an additional 50,443 shares during the period. Finally, Wedge Capital Management L L P NC increased its stake in shares of Verso by 137.2% during the fourth quarter. Wedge Capital Management L L P NC now owns 156,391 shares of the basic materials company’s stock valued at $1,880,000 after acquiring an additional 90,446 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Verso stock opened at $15.00 on Friday. The firm has a market cap of $496.08 million, a price-to-earnings ratio of 2.77 and a beta of 1.89. Verso Co. has a 1 year low of $7.36 and a 1 year high of $17.12. The firm’s 50 day moving average price is $14.86 and its two-hundred day moving average price is $11.99.

Verso (NYSE:VRS) last posted its quarterly earnings results on Thursday, February 25th. The basic materials company reported ($1.84) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.68) by ($0.16). The business had revenue of $314.00 million during the quarter, compared to analyst estimates of $318.89 million. Verso had a return on equity of 0.45% and a net margin of 9.89%. Analysts predict that Verso Co. will post -1.68 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 29th. Shareholders of record on Thursday, March 18th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend was Wednesday, March 17th. Verso’s payout ratio is -210.53%.

Separately, Zacks Investment Research lowered shares of Verso from a “buy” rating to a “hold” rating in a research report on Tuesday, March 2nd.

Verso 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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Institutional Ownership by Quarter for Verso (NYSE:VRS)

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