Louisiana State Employees Retirement System purchased a new position in Valvoline Inc. (NYSE:VVV) during the second quarter, according to its most recent filing with the SEC. The firm purchased 53,300 shares of the basic materials company’s stock, valued at approximately $1,264,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of VVV. State Street Corp purchased a new position in shares of Valvoline during the fourth quarter worth about $6,508,000. Bank of New York Mellon Corp increased its position in shares of Valvoline by 11.8% in the first quarter. Bank of New York Mellon Corp now owns 132,166 shares of the basic materials company’s stock worth $3,245,000 after buying an additional 13,938 shares during the period. M&T Bank Corp bought a new position in Valvoline during the first quarter worth about $203,000. TD Asset Management Inc. increased its position in Valvoline by 57.0% in the first quarter. TD Asset Management Inc. now owns 157,000 shares of the basic materials company’s stock worth $3,854,000 after buying an additional 57,000 shares during the last quarter. Finally, Pacer Advisors Inc. increased its position in Valvoline by 630.1% in the first quarter. Pacer Advisors Inc. now owns 5,571 shares of the basic materials company’s stock worth $137,000 after buying an additional 4,808 shares during the last quarter. Hedge funds and other institutional investors own 41.01% of the company’s stock.
Shares of Valvoline Inc. (NYSE VVV) traded down 1.37% during mid-day trading on Friday, reaching $21.55. 1,208,958 shares of the company’s stock were exchanged. The firm has a market capitalization of $4.37 billion and a P/E ratio of 18.87. The stock has a 50-day moving average of $22.73 and a 200 day moving average of $23.07. Valvoline Inc. has a one year low of $18.30 and a one year high of $24.98.
Valvoline (NYSE:VVV) last announced its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by $0.01. The firm had revenue of $534 million for the quarter, compared to analysts’ expectations of $530.57 million. Valvoline had a net margin of 13.00% and a negative return on equity of 106.06%. Valvoline’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, analysts forecast that Valvoline Inc. will post $1.37 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a dividend of $0.049 per share. This represents a $0.20 annualized dividend and a yield of 0.91%. The ex-dividend date is Wednesday, August 30th. Valvoline’s dividend payout ratio is currently 15.50%.
A number of research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Valvoline from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Friday, April 28th. Deutsche Bank AG reiterated a “hold” rating and set a $23.00 target price (up previously from $22.00) on shares of Valvoline in a research report on Saturday, June 3rd. J P Morgan Chase & Co reiterated a “neutral” rating and set a $22.00 target price (up previously from $20.00) on shares of Valvoline in a research report on Wednesday, August 9th. Finally, Seaport Global Securities upgraded shares of Valvoline from a “neutral” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Wednesday, June 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $25.83.
Valvoline Inc (Valvoline) is engaged in the production and distribution of automotive, commercial and industrial lubricants, and automotive chemicals. The Company operates through three segments: Core North America, Quick Lubes and International. The Core North America segment sells Valvoline, and other branded and private label products in the United States and Canada to both consumers performing their own automotive maintenance, referred to as Do-It-Yourself (DIY) consumers, as well as, to installer customers using Valvoline products to service vehicles owned by Do-It-For-Me (DIFM) consumers.
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