Bank of Nova Scotia Reduces Position in Valvoline Inc. (NYSE:VVV)

Bank of Nova Scotia reduced its holdings in Valvoline Inc. (NYSE:VVVGet Rating) by 42.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 164,000 shares of the basic materials company’s stock after selling 120,000 shares during the period. Bank of Nova Scotia owned about 0.09% of Valvoline worth $4,728,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Larson Financial Group LLC purchased a new stake in shares of Valvoline in the 2nd quarter valued at $26,000. Rosenberg Matthew Hamilton purchased a new stake in shares of Valvoline in the 2nd quarter valued at $41,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Valvoline by 138.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,920 shares of the basic materials company’s stock valued at $55,000 after acquiring an additional 1,114 shares during the last quarter. Venture Visionary Partners LLC purchased a new stake in Valvoline during the second quarter worth $56,000. Finally, Geneos Wealth Management Inc. boosted its holdings in Valvoline by 147.1% during the first quarter. Geneos Wealth Management Inc. now owns 2,100 shares of the basic materials company’s stock worth $66,000 after buying an additional 1,250 shares in the last quarter. 90.68% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

VVV has been the topic of a number of recent analyst reports. Citigroup lowered their price target on shares of Valvoline from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, August 9th. initiated coverage on shares of Valvoline in a research report on Wednesday, October 12th. They set a “buy” rating for the company.

Valvoline Price Performance

Shares of NYSE VVV opened at $32.16 on Tuesday. The firm has a 50-day simple moving average of $27.86 and a 200-day simple moving average of $29.44. The stock has a market capitalization of $5.69 billion, a price-to-earnings ratio of 13.40 and a beta of 1.36. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 7.25. Valvoline Inc. has a 52 week low of $24.40 and a 52 week high of $37.97.

About Valvoline

(Get Rating)

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.

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Institutional Ownership by Quarter for Valvoline (NYSE:VVV)

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