Gabelli Funds LLC decreased its position in Valvoline Inc (NYSE:VVV) by 1.9% during the third quarter, HoldingsChannel.com reports. The fund owned 725,980 shares of the basic materials company’s stock after selling 14,000 shares during the quarter. Gabelli Funds LLC’s holdings in Valvoline were worth $15,616,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in VVV. First Hawaiian Bank purchased a new position in shares of Valvoline in the third quarter valued at about $113,000. GSA Capital Partners LLP purchased a new position in shares of Valvoline during the second quarter valued at about $245,000. Oakbrook Investments LLC purchased a new position in shares of Valvoline during the third quarter valued at about $264,000. Jane Street Group LLC purchased a new position in shares of Valvoline during the second quarter valued at about $280,000. Finally, BNP Paribas Arbitrage SA increased its position in shares of Valvoline by 110.7% during the second quarter. BNP Paribas Arbitrage SA now owns 17,280 shares of the basic materials company’s stock valued at $373,000 after buying an additional 9,079 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.
Several equities analysts recently issued reports on VVV shares. ValuEngine cut shares of Valvoline from a “hold” rating to a “sell” rating in a research report on Thursday, October 11th. JPMorgan Chase & Co. cut shares of Valvoline from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $22.00 to $20.00 in a research report on Friday, September 14th. Jefferies Financial Group started coverage on shares of Valvoline in a research report on Wednesday, October 3rd. They set a “buy” rating and a $27.00 price target on the stock. Morgan Stanley reduced their price target on shares of Valvoline from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 2nd. Finally, Zacks Investment Research cut shares of Valvoline from a “buy” rating to a “hold” rating in a research report on Saturday, October 13th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $24.50.
Shares of NYSE VVV opened at $20.12 on Friday. Valvoline Inc has a 1 year low of $17.49 and a 1 year high of $25.63. The stock has a market cap of $3.63 billion, a P/E ratio of 15.60, a P/E/G ratio of 1.09 and a beta of 0.93.
Valvoline (NYSE:VVV) last announced its quarterly earnings results on Monday, November 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.34. The company had revenue of $594.00 million for the quarter, compared to analysts’ expectations of $593.80 million. Valvoline had a net margin of 7.26% and a negative return on equity of 95.31%. Valvoline’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.33 earnings per share. As a group, research analysts forecast that Valvoline Inc will post 1.39 EPS for the current fiscal year.
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Valvoline Company Profile
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.
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