Valvoline Inc. (VVV) Raises Dividend to $0.07 Per Share
Valvoline Inc. (NYSE:VVV) declared a quarterly dividend on Wednesday, November 15th, Wall Street Journal reports. Stockholders of record on Friday, December 1st will be paid a dividend of 0.0745 per share by the basic materials company on Friday, December 15th. This represents a $0.30 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Thursday, November 30th. This is an increase from Valvoline’s previous quarterly dividend of $0.05.
Valvoline has a payout ratio of 15.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Valvoline to earn $1.40 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 14.3%.
Shares of Valvoline (NYSE:VVV) traded up $0.18 during mid-day trading on Wednesday, hitting $23.26. 1,702,800 shares of the stock traded hands, compared to its average volume of 1,324,881. The company has a quick ratio of 1.29, a current ratio of 1.65 and a debt-to-equity ratio of -8.84. Valvoline has a twelve month low of $19.31 and a twelve month high of $24.98. The company has a market capitalization of $4,676.59, a PE ratio of 16.60, a price-to-earnings-growth ratio of 2.20 and a beta of 1.62.
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Several research firms recently weighed in on VVV. Zacks Investment Research lowered shares of Valvoline from a “buy” rating to a “hold” rating in a research note on Tuesday. SunTrust Banks, Inc. reiterated a “hold” rating and set a $25.00 price objective on shares of Valvoline in a research note on Friday, November 10th. Morgan Stanley increased their price objective on shares of Valvoline from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Friday, November 10th. Finally, J P Morgan Chase & Co reiterated a “neutral” rating and set a $22.00 price objective (up previously from $20.00) on shares of Valvoline in a research note on Wednesday, August 9th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $25.38.
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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