Wells Fargo & Company MN raised its holdings in Valvoline Inc. (NYSE:VVV) by 623.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 556,784 shares of the basic materials company’s stock after purchasing an additional 479,852 shares during the quarter. Wells Fargo & Company MN owned 0.27% of Valvoline worth $13,206,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of VVV. City Holding Co. acquired a new stake in shares of Valvoline in the 2nd quarter valued at $128,000. Pacer Advisors Inc. boosted its holdings in shares of Valvoline by 630.1% in the 1st quarter. Pacer Advisors Inc. now owns 5,571 shares of the basic materials company’s stock valued at $137,000 after purchasing an additional 4,808 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Valvoline by 1,210.5% in the 1st quarter. Legal & General Group Plc now owns 8,204 shares of the basic materials company’s stock valued at $201,000 after purchasing an additional 7,578 shares in the last quarter. M&T Bank Corp acquired a new stake in shares of Valvoline in the 1st quarter valued at $203,000. Finally, Oakbrook Investments LLC acquired a new stake in shares of Valvoline in the 2nd quarter valued at $204,000. 92.34% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Valvoline Inc. (VVV) opened at 23.45 on Friday. The firm has a market cap of $4.75 billion and a P/E ratio of 20.53. Valvoline Inc. has a 12-month low of $18.30 and a 12-month high of $24.98. The company’s 50 day moving average price is $22.55 and its 200 day moving average price is $22.55.

Valvoline (NYSE:VVV) last posted its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01). Valvoline had a net margin of 13.00% and a negative return on equity of 106.06%. The business had revenue of $534.00 million for the quarter, compared to analysts’ expectations of $530.57 million. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities research analysts forecast that Valvoline Inc. will post $1.37 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were given a dividend of $0.049 per share. The ex-dividend date was Wednesday, August 30th. This represents a $0.20 annualized dividend and a yield of 0.84%. Valvoline’s payout ratio is 15.50%.

VVV has been the topic of a number of research analyst reports. Zacks Investment Research raised Valvoline from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Wednesday, June 7th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $23.00 target price (up previously from $22.00) on shares of Valvoline in a report on Saturday, June 3rd. Seaport Global Securities raised Valvoline from a “neutral” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Wednesday, June 7th. Finally, J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $22.00 target price (up previously from $20.00) on shares of Valvoline in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $25.55.

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About Valvoline

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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Institutional Ownership by Quarter for Valvoline (NYSE:VVV)

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