Retirement Systems of Alabama Invests $8.88 Million in Valvoline Inc. (VVV)
Retirement Systems of Alabama bought a new position in shares of Valvoline Inc. (NYSE:VVV) during the second quarter, Holdings Channel reports. The fund bought 374,270 shares of the basic materials company’s stock, valued at approximately $8,878,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of VVV. Tdam USA Inc. boosted its position in Valvoline by 0.5% in the first quarter. Tdam USA Inc. now owns 61,160 shares of the basic materials company’s stock worth $1,501,000 after buying an additional 309 shares during the last quarter. Ngam Advisors L.P. boosted its position in Valvoline by 4.4% in the first quarter. Ngam Advisors L.P. now owns 18,595 shares of the basic materials company’s stock worth $457,000 after buying an additional 776 shares during the last quarter. Symphony Asset Management LLC boosted its position in Valvoline by 12.5% in the first quarter. Symphony Asset Management LLC now owns 34,052 shares of the basic materials company’s stock worth $836,000 after buying an additional 3,780 shares during the last quarter. Pacer Advisors Inc. boosted its position in Valvoline by 630.1% in the first quarter. Pacer Advisors Inc. now owns 5,571 shares of the basic materials company’s stock worth $137,000 after buying an additional 4,808 shares during the last quarter. Finally, City Holding Co. acquired a new position in Valvoline during the second quarter worth about $128,000. 28.34% of the stock is owned by hedge funds and other institutional investors.
Valvoline Inc. (NYSE VVV) opened at 22.13 on Friday. Valvoline Inc. has a 52-week low of $18.30 and a 52-week high of $24.98. The firm has a market capitalization of $4.48 billion and a PE ratio of 19.38. The stock’s 50 day moving average price is $22.95 and its 200 day moving average price is $23.09.
Valvoline (NYSE:VVV) last posted its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by $0.01. Valvoline had a negative return on equity of 106.06% and a net margin of 13.00%. The business had revenue of $534 million during the quarter, compared to the consensus estimate of $530.57 million. Valvoline’s revenue was up 7.0% on a year-over-year basis. On average, analysts predict that Valvoline Inc. will post $1.37 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a $0.049 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Wednesday, August 30th. Valvoline’s dividend payout ratio (DPR) is presently 15.50%.
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A number of research firms have issued reports on VVV. Zacks Investment Research cut Valvoline from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. J P Morgan Chase & Co reissued a “neutral” rating and issued a $22.00 target price (up from $20.00) on shares of Valvoline in a research note on Wednesday. Seaport Global Securities raised Valvoline from a “neutral” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Wednesday, June 7th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $23.00 target price (up from $22.00) on shares of Valvoline in a research note on Saturday, June 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $25.83.
Valvoline Company Profile
Valvoline Inc (Valvoline) is engaged in the production and distribution of automotive, commercial and industrial lubricants, and automotive chemicals. The Company operates through three segments: Core North America, Quick Lubes and International. The Core North America segment sells Valvoline, and other branded and private label products in the United States and Canada to both consumers performing their own automotive maintenance, referred to as Do-It-Yourself (DIY) consumers, as well as, to installer customers using Valvoline products to service vehicles owned by Do-It-For-Me (DIFM) consumers.
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