State of Alaska Department of Revenue Acquires 1,015 Shares of Valvoline Inc. (NYSE:VVV)

State of Alaska Department of Revenue lifted its holdings in shares of Valvoline Inc. (NYSE:VVV) by 7.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,088 shares of the basic materials company’s stock after purchasing an additional 1,015 shares during the period. State of Alaska Department of Revenue’s holdings in Valvoline were worth $631,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Blue Trust Inc. increased its holdings in Valvoline by 57.9% during the second quarter. Blue Trust Inc. now owns 728 shares of the basic materials company’s stock worth $32,000 after buying an additional 267 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Valvoline by 92.1% in the 3rd quarter. UMB Bank n.a. now owns 630 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 302 shares during the period. Evergreen Capital Management LLC raised its holdings in shares of Valvoline by 6.1% in the 2nd quarter. Evergreen Capital Management LLC now owns 6,292 shares of the basic materials company’s stock worth $272,000 after purchasing an additional 359 shares during the period. Park Place Capital Corp lifted its stake in Valvoline by 29.3% in the third quarter. Park Place Capital Corp now owns 1,608 shares of the basic materials company’s stock valued at $67,000 after purchasing an additional 364 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Valvoline by 46.5% during the third quarter. GAMMA Investing LLC now owns 1,465 shares of the basic materials company’s stock valued at $61,000 after purchasing an additional 465 shares during the period. 96.13% of the stock is owned by hedge funds and other institutional investors.

Valvoline Price Performance

Shares of NYSE VVV opened at $43.41 on Friday. The firm has a market capitalization of $5.59 billion, a P/E ratio of 35.29 and a beta of 1.46. The company has a quick ratio of 0.62, a current ratio of 0.73 and a debt-to-equity ratio of 10.57. The stock’s 50-day simple moving average is $41.15 and its two-hundred day simple moving average is $42.02. Valvoline Inc. has a twelve month low of $29.15 and a twelve month high of $48.26.

Valvoline (NYSE:VVV) last issued its quarterly earnings results on Wednesday, August 7th. The basic materials company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). Valvoline had a net margin of 10.45% and a return on equity of 182.88%. The business had revenue of $421.00 million for the quarter, compared to the consensus estimate of $425.17 million. During the same quarter in the previous year, the business earned $0.43 earnings per share. The firm’s revenue was up 11.9% on a year-over-year basis. As a group, equities analysts anticipate that Valvoline Inc. will post 1.53 EPS for the current fiscal year.

Valvoline declared that its Board of Directors has initiated a share buyback plan on Tuesday, July 30th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to purchase up to 7.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

VVV has been the topic of several research reports. Royal Bank of Canada lowered their target price on Valvoline from $54.00 to $48.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Robert W. Baird started coverage on shares of Valvoline in a report on Thursday, August 15th. They set an “outperform” rating and a $48.00 price objective on the stock. Stephens began coverage on shares of Valvoline in a research report on Tuesday, October 15th. They set an “overweight” rating and a $49.00 target price for the company. Wells Fargo & Company dropped their price target on shares of Valvoline from $50.00 to $46.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Finally, Citigroup raised their price objective on shares of Valvoline from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $47.75.

Valvoline 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.