Ethic Inc. Acquires 8,293 Shares of Valvoline Inc. (NYSE:VVV)

Ethic Inc. raised its holdings in Valvoline Inc. (NYSE:VVV) by 92.0% in the fourth quarter, Holdings Channel reports. The firm owned 17,307 shares of the basic materials company’s stock after purchasing an additional 8,293 shares during the period. Ethic Inc.’s holdings in Valvoline were worth $626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Huntington National Bank grew its stake in shares of Valvoline by 1,004.9% during the 4th quarter. Huntington National Bank now owns 895 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 814 shares during the period. Centricity Wealth Management LLC bought a new position in shares of Valvoline during the 4th quarter worth $36,000. Aster Capital Management DIFC Ltd bought a new position in shares of Valvoline during the 4th quarter worth $49,000. Headlands Technologies LLC bought a new position in shares of Valvoline during the 4th quarter worth $73,000. Finally, Atala Financial Inc bought a new position in shares of Valvoline during the 4th quarter worth $77,000. Institutional investors own 96.13% of the company’s stock.

Valvoline Stock Performance

NYSE:VVV opened at $34.90 on Thursday. The business’s 50-day moving average price is $34.39 and its two-hundred day moving average price is $36.87. Valvoline Inc. has a twelve month low of $31.02 and a twelve month high of $48.27. The stock has a market cap of $4.44 billion, a P/E ratio of 16.70 and a beta of 1.20. The company has a quick ratio of 0.58, a current ratio of 0.70 and a debt-to-equity ratio of 4.39.

Valvoline (NYSE:VVV) last released its quarterly earnings results on Thursday, May 8th. The basic materials company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). The business had revenue of $403.20 million during the quarter, compared to analysts’ expectations of $405.38 million. Valvoline had a net margin of 16.34% and a return on equity of 143.64%. The business’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.37 EPS. As a group, equities analysts predict that Valvoline Inc. will post 1.63 EPS for the current fiscal year.

Insider Activity

In other news, insider Julie Marie O’daniel sold 6,000 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $37.41, for a total transaction of $224,460.00. Following the transaction, the insider now directly owns 15,305 shares in the company, valued at approximately $572,560.05. This represents a 28.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

VVV has been the topic of a number of recent research reports. Wells Fargo & Company dropped their price objective on Valvoline from $44.00 to $42.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. Morgan Stanley dropped their price objective on Valvoline from $41.00 to $39.00 and set an “equal weight” rating on the stock in a report on Friday, May 9th. Royal Bank of Canada increased their price objective on Valvoline from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Piper Sandler reissued an “overweight” rating and set a $44.00 price objective (down previously from $45.00) on shares of Valvoline in a report on Friday, May 9th. Finally, Citigroup dropped their price objective on Valvoline from $41.00 to $38.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $42.33.

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.