Congress Asset Management Co. MA Makes New Investment in Valvoline Inc. (NYSE:VVV)

Congress Asset Management Co. MA bought a new position in shares of Valvoline Inc. (NYSE:VVV) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,287,002 shares of the basic materials company’s stock, valued at approximately $123,526,000. Congress Asset Management Co. MA owned approximately 2.54% of Valvoline at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Valvoline during the fourth quarter worth $31,165,000. Oak Thistle LLC bought a new position in shares of Valvoline in the fourth quarter worth $1,060,000. Cerity Partners LLC bought a new position in shares of Valvoline in the fourth quarter worth $1,049,000. First Hawaiian Bank increased its holdings in shares of Valvoline by 368.1% in the fourth quarter. First Hawaiian Bank now owns 48,622 shares of the basic materials company’s stock worth $1,827,000 after purchasing an additional 38,235 shares during the period. Finally, Scharf Investments LLC increased its holdings in shares of Valvoline by 9.0% in the fourth quarter. Scharf Investments LLC now owns 2,655,463 shares of the basic materials company’s stock worth $99,792,000 after purchasing an additional 218,508 shares during the period. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Valvoline Trading Down 0.7 %

Shares of NYSE:VVV traded down $0.27 on Friday, reaching $41.21. 1,024,025 shares of the company traded hands, compared to its average volume of 927,333. The business’s 50-day simple moving average is $41.75 and its 200 day simple moving average is $40.09. Valvoline Inc. has a 52 week low of $29.15 and a 52 week high of $45.37. The stock has a market capitalization of $5.31 billion, a P/E ratio of 32.71 and a beta of 1.44. The company has a current ratio of 0.73, a quick ratio of 0.69 and a debt-to-equity ratio of 15.83.

Valvoline (NYSE:VVV) last posted its earnings results on Wednesday, May 8th. The basic materials company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The company had revenue of $388.70 million during the quarter, compared to analyst estimates of $390.75 million. Valvoline had a net margin of 11.78% and a return on equity of 136.59%. Valvoline’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.23 earnings per share. As a group, equities analysts anticipate that Valvoline Inc. will post 1.61 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Mizuho assumed coverage on shares of Valvoline in a report on Tuesday, March 19th. They issued a “buy” rating and a $50.00 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $48.00 price target on shares of Valvoline in a report on Friday, June 7th. Piper Sandler began coverage on Valvoline in a research note on Wednesday. They issued an “overweight” rating and a $49.00 target price on the stock. Finally, Citigroup increased their target price on Valvoline from $36.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, March 13th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $43.78.

Valvoline Profile

Valvoline Inc engages in the operation and franchising of vehicle service centers and retail stores in the United States and Canada. The company, through its service centers, provides fluid exchange for motor oil, transmission and differential fluid, and coolant; parts replacement for batteries, filters, wiper blades, and belts; and safety services, such as tire inflation and rotation, bulbs, and safety checks.