Verition Fund Management LLC cut its holdings in Valvoline Inc. (NYSE:VVV – Get Rating) by 53.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,779 shares of the basic materials company’s stock after selling 33,494 shares during the quarter. Verition Fund Management LLC’s holdings in Valvoline were worth $908,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently modified their holdings of VVV. Glenview Capital Management LLC bought a new stake in Valvoline during the 1st quarter valued at approximately $55,059,000. Leeward Investments LLC MA bought a new stake in Valvoline during the 1st quarter valued at approximately $24,781,000. Point72 Asset Management L.P. boosted its position in Valvoline by 373.3% during the 4th quarter. Point72 Asset Management L.P. now owns 885,500 shares of the basic materials company’s stock valued at $33,020,000 after acquiring an additional 698,400 shares in the last quarter. Millennium Management LLC boosted its position in Valvoline by 382.5% during the 4th quarter. Millennium Management LLC now owns 674,613 shares of the basic materials company’s stock valued at $25,156,000 after acquiring an additional 534,792 shares in the last quarter. Finally, Freshford Capital Management LLC boosted its position in Valvoline by 57.8% during the 1st quarter. Freshford Capital Management LLC now owns 1,424,783 shares of the basic materials company’s stock valued at $44,965,000 after acquiring an additional 521,738 shares in the last quarter. 90.68% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several research firms have weighed in on VVV. Jefferies Financial Group cut their price objective on Valvoline from $44.00 to $40.00 in a research report on Thursday, June 16th. StockNews.com raised Valvoline from a “hold” rating to a “buy” rating in a research report on Thursday, September 1st. Finally, Citigroup dropped their price target on Valvoline from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, August 9th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $39.20.
Valvoline Price Performance
Valvoline (NYSE:VVV – Get Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The basic materials company reported $0.58 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.58. Valvoline had a net margin of 12.30% and a return on equity of 202.75%. The company had revenue of $957.00 million during the quarter, compared to analyst estimates of $948.00 million. As a group, research analysts expect that Valvoline Inc. will post 2.11 EPS for the current fiscal year.
Valvoline Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were issued a $0.125 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.50 dividend on an annualized basis and a yield of 1.81%. Valvoline’s payout ratio is currently 20.83%.
Insider Buying and Selling
In related news, insider Julie Marie O’daniel sold 6,500 shares of the business’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $29.91, for a total value of $194,415.00. Following the completion of the transaction, the insider now directly owns 13,760 shares in the company, valued at approximately $411,561.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.94% of the stock is owned by company insiders.
Valvoline Inc manufactures, markets, and supplies, engine and automotive maintenance products and services. It operates through two segments, Retail Services and Global Products. 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; and oil and air filters for light-duty vehicles.
- Get a free copy of the StockNews.com research report on Valvoline (VVV)
- The Worst May be Over for Target, But is the Stock Safe to Buy?
- Are These Liquid Natural Gas Stocks Ready For An Upside Bounce?
- Two Fun Stocks The Insiders Are Buying
- Novavax Remains a Risk-On Stock in a Risk-Off Market
- General Mills: Superior Returns With Less Volatility
Receive News & Ratings for Valvoline Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valvoline and related companies with MarketBeat.com's FREE daily email newsletter.