Advisors Asset Management Inc. trimmed its stake in Valvoline Inc (NYSE:VVV) by 71.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,634 shares of the basic materials company’s stock after selling 27,088 shares during the quarter. Advisors Asset Management Inc.’s holdings in Valvoline were worth $666,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Deprince Race & Zollo Inc. bought a new position in Valvoline in the second quarter valued at approximately $22,624,000. Bank of Montreal Can grew its stake in Valvoline by 14.4% in the second quarter. Bank of Montreal Can now owns 33,686 shares of the basic materials company’s stock valued at $726,000 after purchasing an additional 4,235 shares in the last quarter. Brown Advisory Inc. grew its stake in Valvoline by 66.0% in the second quarter. Brown Advisory Inc. now owns 50,890 shares of the basic materials company’s stock valued at $1,098,000 after purchasing an additional 20,242 shares in the last quarter. Janus Henderson Group PLC grew its stake in Valvoline by 24.7% in the second quarter. Janus Henderson Group PLC now owns 7,330,130 shares of the basic materials company’s stock valued at $158,111,000 after purchasing an additional 1,450,594 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in Valvoline by 37.0% in the second quarter. State of Alaska Department of Revenue now owns 22,022 shares of the basic materials company’s stock valued at $475,000 after purchasing an additional 5,950 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.
Several research analysts have recently commented on the company. Jefferies Financial Group assumed coverage on Valvoline in a research note on Wednesday, October 3rd. They set a “buy” rating and a $27.00 target price for the company. Seaport Global Securities upgraded Valvoline from a “neutral” rating to a “buy” rating in a research note on Monday, September 17th. JPMorgan Chase & Co. downgraded Valvoline from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $22.00 to $20.00 in a research note on Friday, September 14th. Zacks Investment Research upgraded Valvoline from a “sell” rating to a “hold” rating in a research note on Thursday, September 6th. Finally, Monness Crespi & Hardt reduced their target price on Valvoline from $28.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, August 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. Valvoline presently has a consensus rating of “Hold” and an average price target of $25.38.
Shares of NYSE VVV opened at $20.58 on Monday. The company has a quick ratio of 1.40, a current ratio of 1.86 and a debt-to-equity ratio of -4.27. Valvoline Inc has a 12 month low of $19.86 and a 12 month high of $25.63. The company has a market cap of $4.10 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 1.44 and a beta of 0.96.
Valvoline (NYSE:VVV) last issued its earnings results on Wednesday, August 1st. The basic materials company reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.03). Valvoline had a negative return on equity of 124.61% and a net margin of 10.10%. The business had revenue of $577.00 million for the quarter, compared to the consensus estimate of $591.49 million. During the same quarter in the prior year, the firm posted $0.34 earnings per share. The business’s revenue was up 8.1% compared to the same quarter last year. On average, research analysts expect that Valvoline Inc will post 1.29 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 17th. Stockholders of record on Friday, August 31st were paid a dividend of $0.0745 per share. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $0.30 annualized dividend and a dividend yield of 1.45%. Valvoline’s dividend payout ratio is currently 21.58%.
In related news, insider Anthony R. Puckett sold 6,132 shares of Valvoline stock in a transaction that occurred on Tuesday, July 10th. The stock was sold at an average price of $21.72, for a total transaction of $133,187.04. Following the completion of the sale, the insider now directly owns 5,445 shares of the company’s stock, valued at approximately $118,265.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.59% of the company’s stock.
Valvoline Inc manufactures and markets engine and automotive maintenance products and services. It operates through three segments: Core North America, Quick Lubes, and International. The company offers lubricants for passenger car/light duty and heavy duty; antifreeze/coolants for original equipment manufacturers; functional and maintenance chemicals, such as brake fluids and power steering fluids, as well as specialty coatings for automotive and industrial applications comprising rust prevention and sound absorption; and oil and air filters for light-duty vehicles.
Recommended Story: Market Capitalization – What it Means for Investors
Receive News & Ratings for Valvoline Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valvoline and related companies with MarketBeat.com's FREE daily email newsletter.