Valvoline Inc. (VVV) Position Raised by Alliancebernstein L.P.
Alliancebernstein L.P. increased its position in shares of Valvoline Inc. (NYSE:VVV) by 2,119.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 244,855 shares of the basic materials company’s stock after purchasing an additional 233,824 shares during the period. Alliancebernstein L.P. owned 0.12% of Valvoline worth $5,808,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Ngam Advisors L.P. increased its position in Valvoline by 4.4% during the first quarter. Ngam Advisors L.P. now owns 18,595 shares of the basic materials company’s stock worth $457,000 after purchasing an additional 776 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in Valvoline by 23.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 11,005 shares of the basic materials company’s stock worth $261,000 after purchasing an additional 2,105 shares during the last quarter. Wedbush Securities Inc. increased its position in Valvoline by 15.6% during the second quarter. Wedbush Securities Inc. now owns 17,375 shares of the basic materials company’s stock worth $412,000 after purchasing an additional 2,345 shares during the last quarter. Eos Focused Equity Management L.P. increased its position in Valvoline by 1.1% during the second quarter. Eos Focused Equity Management L.P. now owns 230,749 shares of the basic materials company’s stock worth $5,473,000 after purchasing an additional 2,531 shares during the last quarter. Finally, Pacer Advisors Inc. increased its position in Valvoline by 630.1% during the first quarter. Pacer Advisors Inc. now owns 5,571 shares of the basic materials company’s stock worth $137,000 after purchasing an additional 4,808 shares during the last quarter. Hedge funds and other institutional investors own 92.34% of the company’s stock.
VVV has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Valvoline from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Wednesday, June 28th. Seaport Global Securities upgraded shares of Valvoline from a “neutral” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Wednesday, June 7th. Deutsche Bank AG restated a “hold” rating and set a $23.00 price objective (up from $22.00) on shares of Valvoline in a research report on Saturday, June 3rd. Finally, J P Morgan Chase & Co restated a “neutral” rating and set a $22.00 price objective (up from $20.00) on shares of Valvoline in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $25.55.
Shares of Valvoline Inc. (VVV) opened at 23.45 on Friday. The firm has a market capitalization of $4.75 billion and a PE ratio of 20.53. The firm’s 50 day moving average is $22.55 and its 200-day moving average is $22.55. Valvoline Inc. has a 12 month low of $18.30 and a 12 month high of $24.98.
Valvoline (NYSE:VVV) last released its earnings results on Tuesday, August 1st. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.01). The firm had revenue of $534.00 million during the quarter, compared to analysts’ expectations of $530.57 million. Valvoline had a net margin of 13.00% and a negative return on equity of 106.06%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, analysts expect that Valvoline Inc. will post $1.37 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were issued a $0.049 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.20 dividend on an annualized basis and a yield of 0.84%. Valvoline’s dividend payout ratio (DPR) is 15.50%.
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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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