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Oregon Public Employees Retirement Fund lessened its position in Valvoline Inc (NYSE:VVV) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 76,031 shares of the basic materials company’s stock after selling 3,774 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Valvoline were worth $1,471,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Capital International Investors acquired a new position in Valvoline during the 3rd quarter valued at about $208,400,000. FIL Ltd boosted its position in shares of Valvoline by 4.4% during the 3rd quarter. FIL Ltd now owns 5,999,480 shares of the basic materials company’s stock valued at $129,049,000 after purchasing an additional 254,864 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Valvoline by 13.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,773,869 shares of the basic materials company’s stock valued at $124,196,000 after purchasing an additional 684,854 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Valvoline by 51.6% during the 3rd quarter. Wells Fargo & Company MN now owns 3,709,001 shares of the basic materials company’s stock valued at $79,781,000 after purchasing an additional 1,262,729 shares in the last quarter. Finally, Schroder Investment Management Group boosted its position in shares of Valvoline by 1.5% during the 3rd quarter. Schroder Investment Management Group now owns 3,574,366 shares of the basic materials company’s stock valued at $76,885,000 after purchasing an additional 52,480 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.
In other Valvoline news, insider Anthony R. Puckett sold 2,588 shares of the firm’s stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $20.32, for a total value of $52,588.16. Following the completion of the transaction, the insider now directly owns 3,298 shares in the company, valued at $67,015.36. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Thomas A. Gerrald II sold 1,566 shares of the firm’s stock in a transaction dated Tuesday, November 20th. The stock was sold at an average price of $20.39, for a total transaction of $31,930.74. Following the completion of the transaction, the vice president now owns 1,643 shares of the company’s stock, valued at $33,500.77. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,821 shares of company stock valued at $206,284. Corporate insiders own 0.49% of the company’s stock.
VVV has been the subject of several research reports. Bank of America lowered shares of Valvoline from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $24.00 to $20.00 in a research report on Tuesday, November 6th. Wolfe Research lowered shares of Valvoline from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 7th. Citigroup set a $22.00 price objective on shares of Valvoline and gave the company a “buy” rating in a research report on Thursday, November 8th. Zacks Investment Research lowered shares of Valvoline from a “hold” rating to a “sell” rating in a research report on Saturday, November 17th. Finally, ValuEngine upgraded shares of Valvoline from a “sell” rating to a “hold” rating in a research report on Monday, November 26th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $23.29.
Shares of VVV traded up $0.18 during midday trading on Monday, hitting $18.42. The stock had a trading volume of 6,836 shares, compared to its average volume of 1,652,923. Valvoline Inc has a fifty-two week low of $17.49 and a fifty-two week high of $24.18. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 1.29 and a beta of 1.08.
Valvoline (NYSE:VVV) last announced its earnings results on Wednesday, February 6th. The basic materials company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.04). Valvoline had a negative return on equity of 80.99% and a net margin of 9.97%. The firm had revenue of $557.00 million during the quarter, compared to analyst estimates of $584.75 million. During the same quarter in the previous year, the business earned $0.29 earnings per share. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, sell-side analysts forecast that Valvoline Inc will post 1.37 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be issued a $0.106 dividend. This represents a $0.42 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Thursday, February 28th. Valvoline’s payout ratio is 32.56%.
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Valvoline 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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