BB&T Corp purchased a new position in shares of Valvoline Inc. (NYSE:VVV) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 121,581 shares of the basic materials company’s stock, valued at approximately $2,884,000. BB&T Corp owned 0.06% of Valvoline at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of VVV. City Holding Co. purchased a new position in Valvoline during the second quarter valued at $128,000. Pacer Advisors Inc. boosted 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 valued at $137,000 after buying an additional 4,808 shares in the last quarter. Legal & General Group Plc boosted its position in Valvoline by 1,210.5% in the first quarter. Legal & General Group Plc now owns 8,204 shares of the basic materials company’s stock valued at $201,000 after buying an additional 7,578 shares in the last quarter. M&T Bank Corp purchased a new position in Valvoline during the first quarter valued at $203,000. Finally, Oakbrook Investments LLC bought a new position in Valvoline during the second quarter worth approximately $204,000. Institutional investors own 41.01% of the company’s stock.
Valvoline Inc. (NYSE:VVV) traded down 1.37% during trading on Friday, hitting $21.55. The company’s stock had a trading volume of 1,208,958 shares. The firm has a market cap of $4.37 billion and a P/E ratio of 18.87. The firm has a 50 day moving average of $22.68 and a 200 day moving average of $23.06. Valvoline Inc. has a 12 month low of $18.30 and a 12 month high of $24.98.
Valvoline (NYSE:VVV) last announced its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by $0.01. Valvoline had a net margin of 13.00% and a negative return on equity of 106.06%. The business had revenue of $534 million during the quarter, compared to analysts’ expectations of $530.57 million. The business’s revenue was up 7.0% on a year-over-year basis. Equities research analysts predict that Valvoline Inc. will post $1.37 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.049 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Wednesday, August 30th. Valvoline’s dividend payout ratio is currently 15.50%.
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A number of equities research analysts have recently issued reports on the stock. J P Morgan Chase & Co reissued a “neutral” rating and issued a $22.00 target price (up previously from $20.00) on shares of Valvoline in a research report on Wednesday, August 9th. Zacks Investment Research cut shares of Valvoline from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Seaport Global Securities raised shares of Valvoline from a “neutral” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Wednesday, June 7th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $23.00 price target (up previously from $22.00) on shares of Valvoline in a research note on Saturday, June 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus 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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