Parametric Portfolio Associates LLC cut its stake in Valvoline Inc (NYSE:VVV) by 15.4% during the 1st quarter, Holdings Channel reports. The fund owned 671,189 shares of the basic materials company’s stock after selling 121,944 shares during the period. Parametric Portfolio Associates LLC’s holdings in Valvoline were worth $12,457,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in VVV. Quadrant Capital Group LLC boosted its position in shares of Valvoline by 958.3% in the first quarter. Quadrant Capital Group LLC now owns 1,524 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 1,380 shares during the last quarter. Doyle Wealth Management acquired a new stake in shares of Valvoline in the fourth quarter worth approximately $33,000. Claybrook Capital LLC acquired a new stake in shares of Valvoline in the fourth quarter worth approximately $36,000. AdvisorNet Financial Inc boosted its position in shares of Valvoline by 48,000.0% in the fourth quarter. AdvisorNet Financial Inc now owns 2,405 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 2,400 shares during the last quarter. Finally, Advisor Group Inc. boosted its position in shares of Valvoline by 19.5% in the fourth quarter. Advisor Group Inc. now owns 3,511 shares of the basic materials company’s stock worth $68,000 after acquiring an additional 572 shares during the last quarter. 96.73% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently issued reports on VVV. Monness Crespi & Hardt reissued a “buy” rating and issued a $24.00 target price (down from $26.00) on shares of Valvoline in a research report on Friday, May 3rd. Morgan Stanley set a $19.00 target price on shares of Valvoline and gave the stock a “hold” rating in a research report on Thursday, May 2nd. Zacks Investment Research cut shares of Valvoline from a “hold” rating to a “sell” rating in a research report on Friday, April 12th. Finally, Buckingham Research started coverage on shares of Valvoline in a report on Friday, March 15th. They issued a “neutral” rating and a $20.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $22.13.
NYSE VVV traded up $0.06 during mid-day trading on Wednesday, hitting $19.00. The company’s stock had a trading volume of 4,385 shares, compared to its average volume of 1,332,793. Valvoline Inc has a 52-week low of $16.90 and a 52-week high of $23.16. The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 1.56 and a beta of 0.89.
Valvoline (NYSE:VVV) last posted its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.02. Valvoline had a net margin of 9.70% and a negative return on equity of 76.15%. The firm had revenue of $591.00 million for the quarter, compared to analyst estimates of $596.71 million. During the same quarter last year, the firm posted $0.34 earnings per share. Valvoline’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Valvoline Inc will post 1.3 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be issued a $0.106 dividend. The ex-dividend date is Thursday, May 30th. This represents a $0.42 annualized dividend and a yield of 2.23%. Valvoline’s payout ratio is 32.56%.
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Valvoline Company Profile
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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