Valvoline (NYSE:VVV) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in Valvoline (NYSE:VVV) by 0.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 965,274 shares of the basic materials company’s stock after selling 7,095 shares during the period. Bank of New York Mellon Corp owned 0.76% of Valvoline worth $33,601,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of VVV. Cetera Investment Advisers raised its holdings in shares of Valvoline by 1.3% during the fourth quarter. Cetera Investment Advisers now owns 21,425 shares of the basic materials company’s stock valued at $775,000 after buying an additional 277 shares during the last quarter. Advisory Research Inc. grew its position in Valvoline by 0.7% in the fourth quarter. Advisory Research Inc. now owns 41,045 shares of the basic materials company’s stock worth $1,485,000 after buying an additional 295 shares during the last quarter. Farther Finance Advisors LLC grew its position in Valvoline by 10.9% in the fourth quarter. Farther Finance Advisors LLC now owns 3,548 shares of the basic materials company’s stock worth $128,000 after buying an additional 349 shares during the last quarter. Treasurer of the State of North Carolina grew its position in Valvoline by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 56,792 shares of the basic materials company’s stock worth $2,055,000 after buying an additional 360 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Valvoline by 2.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,773 shares of the basic materials company’s stock worth $607,000 after purchasing an additional 409 shares in the last quarter. 96.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Valvoline

In other Valvoline news, CEO Lori Ann Flees acquired 3,000 shares of the business’s stock in a transaction on Tuesday, May 27th. The stock was purchased at an average price of $33.78 per share, with a total value of $101,340.00. Following the acquisition, the chief executive officer directly owned 46,614 shares of the company’s stock, valued at approximately $1,574,620.92. This trade represents a 6.88% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.66% of the company’s stock.

Valvoline Stock Down 1.6%

Valvoline stock opened at $37.40 on Wednesday. The company has a market cap of $4.75 billion, a P/E ratio of 18.16 and a beta of 1.18. Valvoline has a 1-year low of $31.02 and a 1-year high of $48.27. The company has a fifty day simple moving average of $36.32 and a 200 day simple moving average of $35.93. The company has a current ratio of 0.73, a quick ratio of 0.60 and a debt-to-equity ratio of 4.23.

Valvoline (NYSE:VVV) last released its quarterly earnings data on Thursday, May 8th. The basic materials company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). The firm had revenue of $403.20 million for the quarter, compared to analyst estimates of $405.38 million. Valvoline had a return on equity of 106.36% and a net margin of 15.97%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.37 earnings per share. Research analysts anticipate that Valvoline will post 1.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on VVV shares. Morgan Stanley lowered their price target on shares of Valvoline from $41.00 to $39.00 and set an “equal weight” rating on the stock in a report on Friday, May 9th. Wells Fargo & Company cut their target price on shares of Valvoline from $44.00 to $42.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. TD Securities started coverage on shares of Valvoline in a research report on Friday, April 4th. They set a “buy” rating and a $40.00 price objective for the company. Cfra Research raised shares of Valvoline to a “hold” rating in a research note on Monday, July 7th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $44.00 price objective (down from $45.00) on shares of Valvoline in a research note on Friday, May 9th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $42.54.

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.