Parkside Financial Bank & Trust increased its stake in shares of Valvoline Inc (NYSE:VVV) by 50.2% in the 2nd quarter, Holdings Channel reports. The firm owned 3,127 shares of the basic materials company’s stock after buying an additional 1,045 shares during the period. Parkside Financial Bank & Trust’s holdings in Valvoline were worth $61,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Valvoline by 1.0% during the first quarter. BlackRock Inc. now owns 16,937,413 shares of the basic materials company’s stock valued at $314,358,000 after purchasing an additional 174,796 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Valvoline by 0.4% during the first quarter. JPMorgan Chase & Co. now owns 5,908,137 shares of the basic materials company’s stock valued at $109,655,000 after buying an additional 23,703 shares during the last quarter. Champlain Investment Partners LLC increased its holdings in Valvoline by 3.1% during the first quarter. Champlain Investment Partners LLC now owns 4,097,605 shares of the basic materials company’s stock valued at $76,052,000 after buying an additional 123,035 shares during the last quarter. Wasatch Advisors Inc. increased its holdings in Valvoline by 467.4% during the first quarter. Wasatch Advisors Inc. now owns 3,475,951 shares of the basic materials company’s stock valued at $64,514,000 after buying an additional 2,863,305 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Valvoline by 14.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,211,421 shares of the basic materials company’s stock valued at $62,140,000 after buying an additional 403,084 shares during the last quarter. 97.69% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have commented on VVV. Zacks Investment Research raised shares of Valvoline from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a report on Friday, July 19th. Morgan Stanley set a $19.00 target price on shares of Valvoline and gave the company a “hold” rating in a report on Thursday, May 2nd. Buckingham Research raised shares of Valvoline from a “neutral” rating to a “buy” rating and upped their target price for the company from $18.00 to $24.00 in a report on Monday, July 1st. Citigroup upped their target price on shares of Valvoline from $21.00 to $25.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Monness Crespi & Hardt reaffirmed a “buy” rating and set a $24.00 target price (down from $26.00) on shares of Valvoline in a report on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $22.63.
Shares of VVV traded down $0.10 during mid-day trading on Friday, reaching $22.28. The stock had a trading volume of 3,337 shares, compared to its average volume of 1,358,015. The firm has a market cap of $4.15 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 1.80 and a beta of 1.00. Valvoline Inc has a 12 month low of $16.90 and a 12 month high of $23.16. The business has a fifty day moving average of $21.04 and a 200 day moving average of $19.28.
Valvoline (NYSE:VVV) last posted its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.04. The business had revenue of $613.00 million during the quarter, compared to analyst estimates of $610.42 million. Valvoline had a net margin of 9.60% and a negative return on equity of 80.89%. The company’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 earnings per share. As a group, equities analysts anticipate that Valvoline Inc will post 1.33 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a $0.106 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 1.90%. Valvoline’s payout ratio is currently 32.56%.
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.
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