Texas Permanent School Fund trimmed its stake in shares of Valvoline Inc. (NYSE:VVV) by 8.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,538 shares of the basic materials company’s stock after selling 13,221 shares during the quarter. Texas Permanent School Fund owned 0.07% of Valvoline worth $3,533,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VVV. LSV Asset Management grew its stake in Valvoline by 222.8% during the 1st quarter. LSV Asset Management now owns 5,881,691 shares of the basic materials company’s stock worth $153,335,000 after purchasing an additional 4,059,678 shares in the last quarter. Norges Bank acquired a new position in Valvoline during the 4th quarter worth $45,256,000. Boston Partners boosted its position in shares of Valvoline by 18.5% during the 4th quarter. Boston Partners now owns 7,334,833 shares of the basic materials company’s stock worth $169,728,000 after acquiring an additional 1,145,829 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Valvoline by 40.6% during the 4th quarter. Russell Investments Group Ltd. now owns 3,087,068 shares of the basic materials company’s stock worth $71,435,000 after acquiring an additional 891,814 shares in the last quarter. Finally, Aviva PLC acquired a new position in shares of Valvoline during the 4th quarter worth about $20,155,000. 92.26% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently issued reports on VVV. Citigroup upped their price objective on Valvoline from $28.00 to $32.00 in a research report on Monday, March 22nd. Zacks Investment Research raised Valvoline from a “sell” rating to a “hold” rating and set a $36.00 price objective for the company in a research report on Tuesday, May 4th. Morgan Stanley upped their target price on Valvoline from $25.00 to $31.00 and gave the company an “equal weight” rating in a research report on Thursday, May 6th. Truist Securities upped their target price on Valvoline from $25.00 to $26.00 in a research report on Friday, April 30th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their target price on Valvoline from $28.00 to $32.00 in a research report on Monday, March 22nd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $30.80.
Valvoline (NYSE:VVV) last issued its earnings results on Wednesday, April 28th. The basic materials company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.09. Valvoline had a negative return on equity of 121.96% and a net margin of 9.53%. The business had revenue of $701.00 million during the quarter, compared to the consensus estimate of $659.11 million. During the same period in the prior year, the business posted $0.39 EPS. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. Analysts expect that Valvoline Inc. will post 1.39 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 15th. Investors of record on Friday, May 28th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.58%. The ex-dividend date is Thursday, May 27th. Valvoline’s payout ratio is currently 35.97%.
Valvoline Inc manufactures, markets, and supplies, engine and automotive maintenance products and services. It operates through three segments: Quick Lubes, Core North America, 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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