Dimensional Fund Advisors LP Increases Stake in Valvoline Inc (VVV)
Dimensional Fund Advisors LP grew its stake in shares of Valvoline Inc (NYSE:VVV) by 0.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,657,992 shares of the basic materials company’s stock after buying an additional 5,703 shares during the period. Dimensional Fund Advisors LP’s holdings in Valvoline were worth $57,330,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Deprince Race & Zollo Inc. purchased a new stake in shares of Valvoline during the 2nd quarter valued at $22,624,000. Bank of Montreal Can grew its stake in shares of Valvoline by 14.4% during the 2nd quarter. Bank of Montreal Can now owns 33,686 shares of the basic materials company’s stock valued at $726,000 after buying an additional 4,235 shares during the period. Janus Henderson Group PLC grew its stake in shares of Valvoline by 24.7% during the 2nd quarter. Janus Henderson Group PLC now owns 7,330,130 shares of the basic materials company’s stock valued at $158,111,000 after buying an additional 1,450,594 shares during the period. State of Alaska Department of Revenue grew its stake in shares of Valvoline by 37.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 22,022 shares of the basic materials company’s stock valued at $475,000 after buying an additional 5,950 shares during the period. Finally, Symphony Asset Management LLC purchased a new stake in shares of Valvoline during the 1st quarter valued at $650,000. 98.45% of the stock is owned by institutional investors.
In related news, insider Anthony R. Puckett sold 6,132 shares of the company’s stock in a transaction on Tuesday, July 10th. The shares were sold at an average price of $21.72, for a total transaction of $133,187.04. Following the completion of the sale, the insider now directly owns 5,445 shares of the company’s stock, valued at approximately $118,265.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.59% of the stock is currently owned by corporate insiders.
Valvoline (NYSE:VVV) last announced its quarterly earnings results on Wednesday, August 1st. The basic materials company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Valvoline had a negative return on equity of 124.61% and a net margin of 10.10%. The business had revenue of $577.00 million for the quarter, compared to analysts’ expectations of $591.49 million. During the same period last year, the company posted $0.34 earnings per share. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. sell-side analysts expect that Valvoline Inc will post 1.29 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 17th. Investors of record on Friday, August 31st were given a dividend of $0.0745 per share. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $0.30 dividend on an annualized basis and a yield of 1.39%. Valvoline’s dividend payout ratio (DPR) is 21.58%.
A number of brokerages recently weighed in on VVV. ValuEngine cut shares of Valvoline from a “hold” rating to a “sell” rating in a research report on Monday, June 11th. Monness Crespi & Hardt decreased their price target on shares of Valvoline from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, August 3rd. Seaport Global Securities raised shares of Valvoline from a “neutral” rating to a “buy” rating in a research report on Monday, September 17th. Morgan Stanley decreased their price target on shares of Valvoline from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Thursday, August 2nd. Finally, Zacks Investment Research cut shares of Valvoline from a “hold” rating to a “sell” rating in a research report on Tuesday, July 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $25.14.
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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