Valvoline Inc (NYSE:VVV) Short Interest Update

Valvoline Inc (NYSE:VVV) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totalling 4,148,600 shares, a decrease of 27.4% from the July 31st total of 5,712,800 shares. Approximately 2.2% of the shares of the stock are short sold. Based on an average daily volume of 1,060,000 shares, the short-interest ratio is currently 3.9 days.

A number of analysts recently issued reports on VVV shares. Buckingham Research raised Valvoline from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $18.00 to $24.00 in a report on Monday, July 1st. Zacks Investment Research reaffirmed a “buy” rating and set a $25.00 target price on shares of Valvoline in a research note on Saturday, September 7th. Finally, Citigroup upped their target price on Valvoline from $21.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $23.00.

Shares of NYSE:VVV traded down $0.07 on Friday, reaching $22.25. The company’s stock had a trading volume of 590,717 shares, compared to its average volume of 1,259,577. The stock’s 50-day moving average is $21.91 and its two-hundred day moving average is $19.55. Valvoline has a 52-week low of $16.90 and a 52-week high of $23.16. The stock has a market capitalization of $4.20 billion, a P/E ratio of 17.27, a PEG ratio of 1.78 and a beta of 0.90.

Valvoline (NYSE:VVV) last announced its earnings results on Wednesday, July 31st. The basic materials company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.04. The business had revenue of $613.00 million during the quarter, compared to analysts’ expectations of $610.42 million. Valvoline had a net margin of 9.60% and a negative return on equity of 80.89%. The business’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 earnings per share. On average, sell-side analysts forecast that Valvoline will post 1.33 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.106 per share. This represents a $0.42 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Thursday, August 29th. Valvoline’s dividend payout ratio is currently 32.56%.

A number of large investors have recently bought and sold shares of the business. Boston Partners raised its stake in Valvoline by 15.8% during the second quarter. Boston Partners now owns 3,117,717 shares of the basic materials company’s stock worth $60,985,000 after purchasing an additional 424,373 shares during the period. Atria Investments LLC purchased a new position in shares of Valvoline in the 2nd quarter valued at $11,388,000. HG Vora Capital Management LLC purchased a new position in shares of Valvoline in the 2nd quarter valued at $29,295,000. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Valvoline by 103.5% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 15,896 shares of the basic materials company’s stock valued at $314,000 after acquiring an additional 8,085 shares during the period. Finally, Eaton Vance Management raised its stake in shares of Valvoline by 83.1% in the 2nd quarter. Eaton Vance Management now owns 817,139 shares of the basic materials company’s stock valued at $15,959,000 after acquiring an additional 370,932 shares during the period. 94.08% of the stock is currently owned by institutional investors.

About Valvoline

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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