Oppenheimer Asset Management Inc. raised its stake in Valvoline Inc (NYSE:VVV) by 22.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,063 shares of the basic materials company’s stock after acquiring an additional 4,237 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Valvoline were worth $450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently modified their holdings of the company. Swiss National Bank increased its holdings in shares of Valvoline by 2.1% in the second quarter. Swiss National Bank now owns 350,165 shares of the basic materials company’s stock valued at $6,839,000 after purchasing an additional 7,200 shares during the period. AdvisorNet Financial Inc raised its stake in shares of Valvoline by 83.2% during the 2nd quarter. AdvisorNet Financial Inc now owns 4,405 shares of the basic materials company’s stock worth $86,000 after buying an additional 2,000 shares in the last quarter. NumerixS Investment Technologies Inc lifted its holdings in shares of Valvoline by 453.8% in the 1st quarter. NumerixS Investment Technologies Inc now owns 7,200 shares of the basic materials company’s stock valued at $134,000 after buying an additional 5,900 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Valvoline by 0.4% in the 1st quarter. JPMorgan Chase & Co. now owns 5,908,137 shares of the basic materials company’s stock valued at $109,655,000 after buying an additional 23,703 shares during the period. Finally, Laurion Capital Management LP lifted its holdings in shares of Valvoline by 326.0% in the 1st quarter. Laurion Capital Management LP now owns 93,168 shares of the basic materials company’s stock valued at $1,729,000 after buying an additional 71,297 shares during the period. 94.08% of the stock is currently owned by institutional investors.
Shares of VVV stock traded up $0.21 during midday trading on Wednesday, reaching $22.32. 165,265 shares of the company traded hands, compared to its average volume of 1,220,727. The firm’s 50 day simple moving average is $21.86 and its two-hundred day simple moving average is $19.53. The firm has a market cap of $4.17 billion, a PE ratio of 17.30, a price-to-earnings-growth ratio of 1.79 and a beta of 0.90. Valvoline Inc has a 1-year low of $16.90 and a 1-year high of $23.16.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a dividend of $0.106 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.42 dividend on an annualized basis and a yield of 1.90%. Valvoline’s payout ratio is 32.56%.
A number of brokerages recently weighed in on VVV. Citigroup upped their price objective on Valvoline from $21.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Zacks Investment Research reissued a “buy” rating and issued a $25.00 target price on shares of Valvoline in a report on Saturday. Finally, Buckingham Research upgraded shares of Valvoline from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $18.00 to $24.00 in a research report on Monday, July 1st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $23.00.
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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