Gabelli Funds LLC trimmed its holdings in Valvoline Inc (NYSE:VVV) by 1.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 725,980 shares of the basic materials company’s stock after selling 14,000 shares during the period. Gabelli Funds LLC owned approximately 0.38% of Valvoline worth $15,616,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. First Hawaiian Bank purchased a new position in shares of Valvoline during the 3rd quarter valued at $113,000. GSA Capital Partners LLP purchased a new position in shares of Valvoline during the 2nd quarter valued at $245,000. Oakbrook Investments LLC purchased a new position in shares of Valvoline during the 3rd quarter valued at $264,000. Jane Street Group LLC purchased a new position in shares of Valvoline during the 2nd quarter valued at $280,000. Finally, BNP Paribas Arbitrage SA grew its position in shares of Valvoline by 110.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 17,280 shares of the basic materials company’s stock valued at $373,000 after purchasing an additional 9,079 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.
NYSE VVV opened at $20.12 on Friday. Valvoline Inc has a 52-week low of $17.49 and a 52-week high of $25.63. The firm has a market cap of $3.63 billion, a PE ratio of 15.60, a P/E/G ratio of 1.09 and a beta of 0.93.
Valvoline (NYSE:VVV) last posted its quarterly earnings data on Monday, November 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.34. Valvoline had a net margin of 7.26% and a negative return on equity of 95.31%. The company had revenue of $594.00 million during the quarter, compared to the consensus estimate of $593.80 million. During the same period in the previous year, the firm posted $0.33 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. On average, research analysts predict that Valvoline Inc will post 1.39 earnings per share for the current fiscal year.
A number of research analysts have recently commented on VVV shares. ValuEngine lowered shares of Valvoline from a “hold” rating to a “sell” rating in a research report on Thursday, October 11th. JPMorgan Chase & Co. lowered shares of Valvoline from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $22.00 to $20.00 in a research report on Friday, September 14th. Jefferies Financial Group started coverage on shares of Valvoline in a research report on Wednesday, October 3rd. They set a “buy” rating and a $27.00 price target for the company. Morgan Stanley reduced their price target on shares of Valvoline from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Thursday, August 2nd. Finally, Zacks Investment Research downgraded shares of Valvoline from a “buy” rating to a “hold” rating in a report on Saturday, October 13th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $24.50.
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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.
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