First Trust Advisors LP lifted its position in Valvoline Inc. (NYSE:VVV) by 19.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 365,243 shares of the basic materials company’s stock after purchasing an additional 59,416 shares during the quarter. First Trust Advisors LP owned 0.20% of Valvoline worth $6,954,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of VVV. FMR LLC grew its holdings in shares of Valvoline by 2,577.9% in the 1st quarter. FMR LLC now owns 101,652 shares of the basic materials company’s stock worth $1,886,000 after purchasing an additional 97,856 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its holdings in Valvoline by 1,520.1% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 155,613 shares of the basic materials company’s stock worth $2,888,000 after acquiring an additional 146,008 shares during the last quarter. Advisor Group Holdings Inc. bought a new stake in Valvoline during the 1st quarter worth about $146,000. Envestnet Asset Management Inc. grew its holdings in Valvoline by 13.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 14,789 shares of the basic materials company’s stock worth $286,000 after acquiring an additional 1,742 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in Valvoline during the 2nd quarter worth about $1,000,000. 92.26% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have commented on VVV shares. JPMorgan Chase & Co. raised shares of Valvoline from a “neutral” rating to an “overweight” rating and set a $26.00 price objective on the stock in a report on Wednesday, August 5th. Morgan Stanley increased their price objective on shares of Valvoline from $22.00 to $24.00 and gave the stock an “equal weight” rating in a report on Thursday, October 29th. Jefferies Financial Group reissued a “hold” rating and set a $21.00 price objective on shares of Valvoline in a report on Tuesday, August 11th. Zacks Investment Research lowered shares of Valvoline from a “buy” rating to a “hold” rating in a report on Wednesday, September 9th. Finally, ValuEngine lowered shares of Valvoline from a “hold” rating to a “sell” rating in a research note on Tuesday, October 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Valvoline presently has a consensus rating of “Hold” and a consensus target price of $23.67.
Shares of NYSE VVV opened at $22.58 on Friday. The firm has a market capitalization of $4.18 billion, a PE ratio of 19.14, a price-to-earnings-growth ratio of 1.87 and a beta of 1.44. Valvoline Inc. has a 1 year low of $9.06 and a 1 year high of $23.55. The firm’s 50-day moving average is $20.47 and its 200-day moving average is $19.91.
Valvoline (NYSE:VVV) last issued its earnings results on Wednesday, October 28th. The basic materials company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.10. The company had revenue of $652.00 million for the quarter, compared to analyst estimates of $620.55 million. Valvoline had a net margin of 9.53% and a negative return on equity of 121.96%. As a group, equities research analysts expect that Valvoline Inc. will post 1.39 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.21%. This is an increase from Valvoline’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Friday, November 27th. Valvoline’s dividend payout ratio (DPR) is currently 32.37%.
In related news, SVP Craig A. Moughler sold 9,054 shares of the stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $20.00, for a total value of $181,080.00. Following the sale, the senior vice president now directly owns 15,022 shares in the company, valued at approximately $300,440. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Anthony R. Puckett sold 9,005 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $20.95, for a total transaction of $188,654.75. Following the completion of the sale, the senior vice president now owns 2,132 shares in the company, valued at $44,665.40. The disclosure for this sale can be found here. Insiders sold a total of 39,511 shares of company stock worth $839,845 over the last quarter. 0.57% of the stock is currently owned by corporate insiders.
Valvoline Inc manufactures and markets engine and automotive maintenance products and services. It operates through three segments: Quick Lubes, Core North America, 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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