Crestline Management LP Sells 53,346 Shares of Valvoline Inc (VVV)
Crestline Management LP lessened its holdings in Valvoline Inc (NYSE:VVV) by 40.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 79,245 shares of the basic materials company’s stock after selling 53,346 shares during the quarter. Crestline Management LP’s holdings in Valvoline were worth $1,533,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Advisor Group Inc. grew its holdings in Valvoline by 19.5% in the fourth quarter. Advisor Group Inc. now owns 3,511 shares of the basic materials company’s stock worth $68,000 after purchasing an additional 572 shares during the period. Commonwealth Equity Services LLC grew its holdings in Valvoline by 5.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 16,024 shares of the basic materials company’s stock worth $310,000 after purchasing an additional 875 shares during the period. Bank of Montreal Can grew its holdings in Valvoline by 7.7% in the fourth quarter. Bank of Montreal Can now owns 19,747 shares of the basic materials company’s stock worth $382,000 after purchasing an additional 1,414 shares during the period. Doyle Wealth Management purchased a new stake in Valvoline in the fourth quarter worth about $33,000. Finally, Claybrook Capital LLC purchased a new stake in Valvoline in the fourth quarter worth about $36,000. Institutional investors and hedge funds own 99.83% of the company’s stock.
In other news, CEO Samuel J. Mitchell purchased 25,000 shares of the business’s stock in a transaction dated Monday, January 14th. The shares were purchased at an average price of $20.78 per share, for a total transaction of $519,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 167,133 shares in the company, valued at approximately $3,473,023.74. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Craig A. Moughler sold 2,551 shares of the stock in a transaction that occurred on Friday, January 18th. The shares were sold at an average price of $21.88, for a total transaction of $55,815.88. Following the sale, the senior vice president now owns 27,221 shares in the company, valued at approximately $595,595.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,123 shares of company stock worth $110,934. Corporate insiders own 0.49% of the company’s stock.
Valvoline (NYSE:VVV) last posted its quarterly earnings results on Wednesday, February 6th. The basic materials company reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.04). Valvoline had a net margin of 9.97% and a negative return on equity of 80.99%. The firm had revenue of $557.00 million for the quarter, compared to analysts’ expectations of $584.75 million. During the same quarter in the previous year, the company earned $0.29 EPS. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Valvoline Inc will post 1.34 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.106 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Thursday, February 28th. Valvoline’s payout ratio is 32.56%.
A number of brokerages have weighed in on VVV. ValuEngine upgraded shares of Valvoline from a “sell” rating to a “hold” rating in a report on Monday, November 26th. Zacks Investment Research cut shares of Valvoline from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Buckingham Research began coverage on shares of Valvoline in a report on Friday. They issued a “neutral” rating and a $20.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $22.88.
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Valvoline Inc manufactures and markets engine and automotive maintenance products and services. It operates through three segments: Core North America, Quick Lubes, and International. 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 comprising rust prevention and sound absorption; and oil and air filters for light-duty vehicles.
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