Valvoline Inc. (VVV) Shares Sold by Alliancebernstein L.P.
Alliancebernstein L.P. lowered its position in Valvoline Inc. (NYSE:VVV) by 50.7% during the first quarter, Holdings Channel reports. The firm owned 11,031 shares of the basic materials company’s stock after selling 11,366 shares during the period. Alliancebernstein L.P.’s holdings in Valvoline were worth $271,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in VVV. Bank of New York Mellon Corp boosted its position in Valvoline by 11.8% in the first quarter. Bank of New York Mellon Corp now owns 132,166 shares of the basic materials company’s stock worth $3,245,000 after buying an additional 13,938 shares during the period. Boston Partners bought a new position in Valvoline during the first quarter worth about $50,946,000. Eos Focused Equity Management L.P. boosted its position in Valvoline by 12.1% in the first quarter. Eos Focused Equity Management L.P. now owns 228,218 shares of the basic materials company’s stock worth $5,603,000 after buying an additional 24,547 shares during the period. American Century Companies Inc. boosted its position in Valvoline by 87.5% in the first quarter. American Century Companies Inc. now owns 568,400 shares of the basic materials company’s stock worth $13,954,000 after buying an additional 265,252 shares during the period. Finally, First Trust Advisors LP boosted its position in Valvoline by 14.7% in the first quarter. First Trust Advisors LP now owns 138,945 shares of the basic materials company’s stock worth $3,411,000 after buying an additional 17,810 shares during the period. 41.01% of the stock is currently owned by institutional investors.
Valvoline Inc. (NYSE VVV) traded up 0.18% on Wednesday, hitting $22.06. 94,616 shares of the stock were exchanged. The stock has a market cap of $4.47 billion and a price-to-earnings ratio of 19.32. Valvoline Inc. has a 12 month low of $18.30 and a 12 month high of $24.98. The company has a 50-day moving average of $22.84 and a 200-day moving average of $23.09.
Valvoline (NYSE:VVV) last announced its earnings results on Tuesday, August 1st. The basic materials company reported $0.34 EPS for the quarter, missing the Zacks’ 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 million for the quarter, compared to analysts’ expectations of $530.57 million. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, equities analysts predict that Valvoline Inc. will post $1.37 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a dividend of $0.049 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.20 dividend on an annualized basis and a yield of 0.89%. Valvoline’s dividend payout ratio is currently 15.50%.
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A number of research firms have recently issued reports on VVV. Zacks Investment Research cut shares of Valvoline from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Deutsche Bank AG reissued a “hold” rating and set a $23.00 price objective (up previously from $22.00) on shares of Valvoline in a research report on Saturday, June 3rd. J P Morgan Chase & Co restated 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. Finally, Seaport Global Securities upgraded shares of 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. Valvoline has a consensus rating of “Hold” and a consensus target price 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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