Valvoline Inc (VVV) Stake Lessened by BlackRock Inc.

BlackRock Inc. lowered its position in shares of Valvoline Inc (NYSE:VVV) by 0.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,830,247 shares of the basic materials company’s stock after selling 34,728 shares during the quarter. BlackRock Inc. owned 8.82% of Valvoline worth $363,028,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in VVV. FIL Ltd increased its stake in Valvoline by 682.9% in the 1st quarter. FIL Ltd now owns 5,809,587 shares of the basic materials company’s stock valued at $128,566,000 after buying an additional 5,067,503 shares during the period. Champlain Investment Partners LLC acquired a new position in Valvoline in the 1st quarter valued at approximately $41,077,000. Deprince Race & Zollo Inc. acquired a new position in Valvoline in the 2nd quarter valued at approximately $22,624,000. Tensile Capital Management LLC increased its stake in Valvoline by 56.1% in the 1st quarter. Tensile Capital Management LLC now owns 2,837,622 shares of the basic materials company’s stock valued at $62,797,000 after buying an additional 1,020,300 shares during the period. Finally, Personal Capital Advisors Corp acquired a new position in Valvoline in the 2nd quarter valued at approximately $20,935,000. Institutional investors and hedge funds own 98.46% of the company’s stock.

VVV stock opened at $22.33 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.86 and a debt-to-equity ratio of -4.27. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of 16.06, a price-to-earnings-growth ratio of 1.47 and a beta of 0.97. Valvoline Inc has a 12 month low of $19.86 and a 12 month high of $25.63.

Valvoline (NYSE:VVV) last posted its earnings results on Wednesday, August 1st. The basic materials company reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.03). The business had revenue of $577.00 million during the quarter, compared to the consensus estimate of $591.49 million. Valvoline had a negative return on equity of 124.61% and a net margin of 10.10%. The business’s revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 earnings per share. equities research analysts predict that Valvoline Inc will post 1.29 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 17th. Shareholders of record on Friday, August 31st will be given a $0.0745 dividend. This represents a $0.30 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Thursday, August 30th. Valvoline’s dividend payout ratio is 21.58%.

VVV has been the topic of several research reports. Monness Crespi & Hardt dropped their price objective on shares of Valvoline from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, August 3rd. Morgan Stanley dropped their price objective on shares of Valvoline from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 2nd. Zacks Investment Research upgraded shares of Valvoline from a “sell” rating to a “hold” rating in a research note on Thursday, September 6th. Seaport Global Securities reiterated a “hold” rating and issued a $25.00 price objective on shares of Valvoline in a research note on Tuesday, August 7th. Finally, ValuEngine upgraded shares of Valvoline from a “sell” rating to a “hold” rating in a research note on Tuesday, July 10th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Valvoline currently has a consensus rating of “Hold” and an average target price of $25.43.

In other Valvoline news, insider Anthony R. Puckett sold 6,132 shares of the business’s stock in a transaction that occurred on Tuesday, July 10th. The shares were sold at an average price of $21.72, for a total value of $133,187.04. Following the completion of the sale, the insider now directly owns 5,445 shares of the company’s stock, valued at $118,265.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.07% of the company’s stock.

Valvoline Company 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.

Further Reading: Index Funds

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Institutional Ownership by Quarter for Valvoline (NYSE:VVV)

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