Royce & Associates LP Buys 248,177 Shares of Valvoline $VVV

Royce & Associates LP increased its stake in shares of Valvoline (NYSE:VVV) by 13.0% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 2,161,434 shares of the basic materials company’s stock after purchasing an additional 248,177 shares during the period. Valvoline accounts for 0.6% of Royce & Associates LP’s investment portfolio, making the stock its 19th largest position. Royce & Associates LP owned about 1.69% of Valvoline worth $65,146,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Valvoline during the 2nd quarter valued at about $501,851,000. Junto Capital Management LP purchased a new stake in shares of Valvoline in the second quarter worth about $81,689,000. Canada Pension Plan Investment Board purchased a new stake in shares of Valvoline in the second quarter worth about $52,960,000. Bank of America Corp DE purchased a new stake in shares of Valvoline in the second quarter worth about $46,514,000. Finally, TimesSquare Capital Management LLC bought a new position in shares of Valvoline in the second quarter valued at approximately $43,541,000. Institutional investors own 96.13% of the company’s stock.

Valvoline Price Performance

Shares of NYSE VVV traded down $0.23 during midday trading on Friday, hitting $34.60. 2,530,146 shares of the company’s stock were exchanged, compared to its average volume of 2,623,728. Valvoline has a 12-month low of $26.21 and a 12-month high of $41.08. The company has a current ratio of 0.70, a quick ratio of 0.58 and a debt-to-equity ratio of 3.77. The company has a market cap of $4.41 billion, a price-to-earnings ratio of 43.25 and a beta of 1.01. The business’s fifty day moving average price is $31.22 and its two-hundred day moving average price is $34.48.

Valvoline announced that its board has authorized a stock buyback plan on Tuesday, September 29th that authorizes the company to buy back $175 million in outstanding shares. This buyback authorization authorizes the basic materials company to reacquire up to 4.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating on shares of Valvoline in a report on Thursday. Weiss Ratings reissued a “hold (c)” rating on shares of Valvoline in a report on Tuesday, November 3rd. Wells Fargo & Company reduced their price target on shares of Valvoline from $45.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, October 23rd. Morgan Stanley restated a “buy” rating on shares of Valvoline in a research report on Thursday, October 1st. Finally, UBS Group set a $40.00 price target on shares of Valvoline in a report on Wednesday, October 14th. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $41.17.

Insider Transactions at Valvoline

In other Valvoline news, insider Julie O’Daniel sold 3,700 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $33.81, for a total value of $125,097.00. Following the completion of the transaction, the insider owned 14,279 shares of the company’s stock, valued at $482,772.99. The trade was a 20.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.66% of the stock is currently owned by insiders.

Valvoline Company Profile

Valvoline Inc. is an automotive services company focused on preventive vehicle maintenance. It operates and franchises service centers under brands including Valvoline Instant Oil Change and Great Canadian Oil Change, primarily in the United States and Canada. Its services include oil changes and other routine maintenance, such as tire rotations, battery replacement, fluid exchanges, air-conditioning service and replacement of wiper blades and filters. The company serves both individual motorists and commercial customers through its service-center network.