Panagora Asset Management Inc. increased its stake in Valvoline Inc (NYSE:VVV) by 37.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,843 shares of the basic materials company’s stock after acquiring an additional 3,750 shares during the quarter. Panagora Asset Management Inc.’s holdings in Valvoline were worth $270,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Meridian Wealth Management LLC acquired a new position in Valvoline in the first quarter valued at about $25,000. Hilton Capital Management LLC acquired a new stake in Valvoline during the 1st quarter valued at $56,000. Parkside Financial Bank & Trust increased its holdings in Valvoline by 50.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 3,127 shares of the basic materials company’s stock valued at $61,000 after purchasing an additional 1,045 shares in the last quarter. AdvisorNet Financial Inc increased its holdings in Valvoline by 83.2% during the 2nd quarter. AdvisorNet Financial Inc now owns 4,405 shares of the basic materials company’s stock valued at $86,000 after purchasing an additional 2,000 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its holdings in Valvoline by 65.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,516 shares of the basic materials company’s stock valued at $102,000 after purchasing an additional 2,187 shares in the last quarter. 94.08% of the stock is owned by institutional investors.
A number of equities research analysts recently weighed in on VVV shares. Zacks Investment Research reaffirmed a “buy” rating and set a $25.00 price target on shares of Valvoline in a report on Saturday, September 7th. Buckingham Research raised Valvoline from a “neutral” rating to a “buy” rating and raised their price target for the company from $18.00 to $24.00 in a report on Monday, July 1st. Finally, Citigroup raised their price target on Valvoline from $21.00 to $25.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. Valvoline has an average rating of “Hold” and a consensus price target of $23.00.
Shares of NYSE VVV traded up $0.11 during midday trading on Friday, hitting $22.43. The stock had a trading volume of 115,037 shares, compared to its average volume of 1,237,358. The company’s 50-day simple moving average is $21.91 and its 200 day simple moving average is $19.55. The firm has a market cap of $4.20 billion, a P/E ratio of 17.39, a price-to-earnings-growth ratio of 1.78 and a beta of 0.90. Valvoline Inc has a fifty-two week low of $16.90 and a fifty-two week high of $23.16.
Valvoline (NYSE:VVV) last released its earnings results on Wednesday, July 31st. The basic materials company reported $0.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.04. The company had revenue of $613.00 million during the quarter, compared to analysts’ expectations of $610.42 million. Valvoline had a negative return on equity of 80.89% and a net margin of 9.60%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period last year, the firm earned $0.32 EPS. On average, sell-side analysts forecast that Valvoline Inc will post 1.33 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be paid a $0.106 dividend. The ex-dividend date is Thursday, August 29th. This represents a $0.42 annualized dividend and a dividend yield of 1.89%. Valvoline’s dividend payout ratio (DPR) is currently 32.56%.
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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