Valvoline Inc. (NYSE:VVV) announced a quarterly dividend on Monday, July 19th, Zacks reports. Investors of record on Monday, August 30th will be given a dividend of 0.125 per share by the basic materials company on Wednesday, September 15th. This represents a $0.50 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Friday, August 27th.
Valvoline has increased its dividend by 109.5% over the last three years and has raised its dividend every year for the last 4 years. Valvoline has a payout ratio of 27.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Valvoline to earn $2.08 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 24.0%.
Shares of NYSE:VVV opened at $30.67 on Wednesday. The company has a 50 day moving average price of $32.55. Valvoline has a 52 week low of $18.34 and a 52 week high of $34.65. The firm has a market capitalization of $5.55 billion, a price-to-earnings ratio of 16.85 and a beta of 1.45.
Several brokerages have commented on VVV. Monness Crespi & Hardt raised their price target on shares of Valvoline from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, April 29th. Truist raised their price objective on shares of Valvoline from $25.00 to $26.00 in a research note on Friday, April 30th. Jefferies Financial Group upgraded shares of Valvoline from a “hold” rating to a “buy” rating and raised their price objective for the company from $25.00 to $40.00 in a research note on Monday, April 19th. Morgan Stanley raised their price objective on shares of Valvoline from $25.00 to $31.00 and gave the company an “equal weight” rating in a research note on Friday, April 30th. Finally, Zacks Investment Research upgraded shares of Valvoline from a “sell” rating to a “hold” rating and set a $36.00 price objective on the stock in a research note on Tuesday, May 4th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Valvoline currently has a consensus rating of “Buy” and a consensus price target of $31.67.
Valvoline Company Profile
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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