Principal Financial Group Inc. Reduces Stake in Valvoline Inc. (NYSE:VVV)

Principal Financial Group Inc. lowered its stake in Valvoline Inc. (NYSE:VVV) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 510,565 shares of the basic materials company’s stock after selling 5,489 shares during the period. Principal Financial Group Inc.’s holdings in Valvoline were worth $19,187,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VVV. Park Place Capital Corp purchased a new position in Valvoline in the fourth quarter worth about $26,000. GAMMA Investing LLC purchased a new position in Valvoline in the fourth quarter worth about $35,000. Principal Securities Inc. purchased a new position in Valvoline in the fourth quarter worth about $39,000. Meeder Asset Management Inc. purchased a new position in Valvoline in the fourth quarter worth about $57,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in Valvoline in the third quarter worth about $60,000. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Valvoline Trading Down 0.5 %

VVV opened at $41.21 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 0.73 and a debt-to-equity ratio of 15.83. The stock’s fifty day moving average is $42.92 and its two-hundred day moving average is $39.21. The company has a market capitalization of $5.31 billion, a P/E ratio of 32.71 and a beta of 1.45. Valvoline Inc. has a 52 week low of $29.15 and a 52 week high of $45.37.

Valvoline (NYSE:VVV) last posted its quarterly earnings results on Wednesday, May 8th. The basic materials company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The business had revenue of $388.70 million for the quarter, compared to the consensus estimate of $390.75 million. Valvoline had a return on equity of 136.59% and a net margin of 11.78%. The business’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.23 EPS. Analysts forecast that Valvoline Inc. will post 1.61 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Mizuho assumed coverage on shares of Valvoline in a research note on Tuesday, March 19th. They issued a “buy” rating and a $50.00 price objective for the company. Citigroup raised their price objective on shares of Valvoline from $36.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 13th. Finally, Royal Bank of Canada raised their price objective on shares of Valvoline from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.75.

About Valvoline

Valvoline Inc engages in the operation and franchising of vehicle service centers and retail stores in the United States and Canada. The company, through its service centers, provides fluid exchange for motor oil, transmission and differential fluid, and coolant; parts replacement for batteries, filters, wiper blades, and belts; and safety services, such as tire inflation and rotation, bulbs, and safety checks.