Principal Financial Group Inc. Has $12.61 Million Holdings in Valvoline Inc. (NYSE:VVV)

Principal Financial Group Inc. lowered its position in shares of Valvoline Inc. (NYSE:VVV) by 30.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 301,196 shares of the basic materials company’s stock after selling 129,566 shares during the period. Principal Financial Group Inc. owned 0.23% of Valvoline worth $12,605,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. UMB Bank n.a. increased its position in Valvoline by 92.1% during the 3rd quarter. UMB Bank n.a. now owns 630 shares of the basic materials company’s stock worth $26,000 after buying an additional 302 shares during the period. Blue Trust Inc. boosted its holdings in Valvoline by 57.9% in the 2nd quarter. Blue Trust Inc. now owns 728 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 267 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in shares of Valvoline during the 2nd quarter worth approximately $34,000. Mather Group LLC. increased its holdings in shares of Valvoline by 1,617.0% during the second quarter. Mather Group LLC. now owns 807 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 760 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Valvoline by 46.5% during the third quarter. GAMMA Investing LLC now owns 1,465 shares of the basic materials company’s stock worth $61,000 after purchasing an additional 465 shares during the period. 96.13% of the stock is owned by institutional investors and hedge funds.

Valvoline Stock Down 1.3 %

VVV stock opened at $42.32 on Friday. The firm has a 50-day moving average price of $41.37 and a 200-day moving average price of $42.03. Valvoline Inc. has a 12 month low of $33.86 and a 12 month high of $48.26. The company has a current ratio of 0.73, a quick ratio of 0.62 and a debt-to-equity ratio of 10.57. The stock has a market capitalization of $5.45 billion, a P/E ratio of 34.38 and a beta of 1.46.

Valvoline declared that its Board of Directors has approved a stock buyback plan on Tuesday, July 30th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the basic materials company to buy up to 7.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on VVV shares. Wells Fargo & Company reduced their price target on Valvoline from $50.00 to $46.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Robert W. Baird initiated coverage on Valvoline in a research report on Thursday, August 15th. They issued an “outperform” rating and a $48.00 price target on the stock. Stephens initiated coverage on shares of Valvoline in a research report on Tuesday, October 15th. They set an “overweight” rating and a $49.00 price objective for the company. Baird R W raised shares of Valvoline to a “strong-buy” rating in a report on Thursday, August 15th. Finally, Royal Bank of Canada dropped their target price on shares of Valvoline from $54.00 to $48.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $47.75.

Valvoline Company Profile

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.