BlackRock Inc. decreased its stake in Valvoline Inc (NYSE:VVV) by 0.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,830,247 shares of the basic materials company’s stock after selling 34,728 shares during the quarter. BlackRock Inc. owned 8.82% of Valvoline worth $363,028,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently added to or reduced their stakes in the stock. Mutual of America Capital Management LLC boosted its position in shares of Valvoline by 2.5% in the 2nd quarter. Mutual of America Capital Management LLC now owns 168,406 shares of the basic materials company’s stock valued at $3,633,000 after purchasing an additional 4,044 shares during the period. Bank of Montreal Can boosted its position in Valvoline by 14.4% during the 2nd quarter. Bank of Montreal Can now owns 33,686 shares of the basic materials company’s stock worth $726,000 after acquiring an additional 4,235 shares during the period. CIBC Private Wealth Group LLC boosted its position in Valvoline by 2.6% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 179,792 shares of the basic materials company’s stock worth $3,878,000 after acquiring an additional 4,588 shares during the period. Xact Kapitalforvaltning AB boosted its position in Valvoline by 28.4% during the 1st quarter. Xact Kapitalforvaltning AB now owns 21,700 shares of the basic materials company’s stock worth $480,000 after acquiring an additional 4,800 shares during the period. Finally, Atlantic Trust Group LLC boosted its position in Valvoline by 2.9% during the 1st quarter. Atlantic Trust Group LLC now owns 175,204 shares of the basic materials company’s stock worth $3,876,000 after acquiring an additional 4,909 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.
A number of equities research analysts have commented on VVV shares. ValuEngine lowered Valvoline from a “hold” rating to a “sell” rating in a research report on Monday, June 11th. Morgan Stanley decreased their price objective on Valvoline from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Thursday, August 2nd. Zacks Investment Research upgraded Valvoline from a “sell” rating to a “hold” rating in a research report on Thursday, September 6th. Seaport Global Securities upgraded Valvoline from a “neutral” rating to a “buy” rating in a research report on Monday, September 17th. Finally, Jefferies Financial Group started coverage on Valvoline in a research report on Wednesday. They set a “buy” rating and a $27.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $25.38.
Shares of Valvoline stock traded down $0.21 during trading on Friday, hitting $20.58. 1,152,924 shares of the stock traded hands, compared to its average volume of 1,482,302. The firm has a market cap of $4.10 billion, a price-to-earnings ratio of 14.81, a P/E/G ratio of 1.44 and a beta of 0.96. The company has a debt-to-equity ratio of -4.27, a current ratio of 1.86 and a quick ratio of 1.40. Valvoline Inc has a twelve month low of $19.86 and a twelve month high of $25.63.
Valvoline (NYSE:VVV) last announced its quarterly earnings results on Wednesday, August 1st. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.03). The firm had revenue of $577.00 million for the quarter, compared to analyst estimates of $591.49 million. Valvoline had a net margin of 10.10% and a negative return on equity of 124.61%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.34 earnings per share. As a group, equities research analysts predict that Valvoline Inc will post 1.29 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 17th. Stockholders of record on Friday, August 31st were issued a dividend of $0.0745 per share. The ex-dividend date was Thursday, August 30th. This represents a $0.30 annualized dividend and a dividend yield of 1.45%. Valvoline’s dividend payout ratio is 21.58%.
In other news, insider Anthony R. Puckett sold 6,132 shares of Valvoline stock in a transaction dated 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 in the company, valued at approximately $118,265.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.59% of the stock is owned by insiders.
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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