Norges Bank Takes $54.11 Million Position in Valvoline Inc. (NYSE:VVV)

Norges Bank purchased a new stake in shares of Valvoline Inc. (NYSE:VVV - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 1,495,692 shares of the basic materials company's stock, valued at approximately $54,114,000. Norges Bank owned approximately 1.17% of Valvoline at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Valvoline by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 12,893,648 shares of the basic materials company's stock valued at $466,492,000 after purchasing an additional 101,834 shares in the last quarter. LPL Financial LLC increased its stake in shares of Valvoline by 26.5% in the fourth quarter. LPL Financial LLC now owns 33,872 shares of the basic materials company's stock worth $1,225,000 after buying an additional 7,097 shares during the last quarter. Fox Run Management L.L.C. raised its holdings in Valvoline by 767.0% in the fourth quarter. Fox Run Management L.L.C. now owns 56,340 shares of the basic materials company's stock valued at $2,038,000 after acquiring an additional 49,842 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Valvoline during the 4th quarter valued at $930,000. Finally, AXQ Capital LP acquired a new position in Valvoline during the 4th quarter worth $800,000. 96.13% of the stock is owned by institutional investors and hedge funds.

Valvoline Stock Performance

NYSE:VVV traded up $1.79 during mid-day trading on Wednesday, hitting $33.27. The stock had a trading volume of 3,061,716 shares, compared to its average volume of 1,347,086. Valvoline Inc. has a 52 week low of $31.05 and a 52 week high of $48.27. The company has a current ratio of 0.70, a quick ratio of 0.58 and a debt-to-equity ratio of 4.39. The stock has a market capitalization of $4.23 billion, a price-to-earnings ratio of 15.92 and a beta of 1.32. The company has a 50 day simple moving average of $36.15 and a 200-day simple moving average of $38.10.

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Valvoline (NYSE:VVV - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01. Valvoline had a return on equity of 143.64% and a net margin of 16.34%. On average, research analysts expect that Valvoline Inc. will post 1.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

VVV has been the topic of several research analyst reports. Mizuho reduced their price target on shares of Valvoline from $46.00 to $42.00 and set an "outperform" rating on the stock in a research report on Monday, January 6th. TD Cowen began coverage on Valvoline in a research report on Friday, April 4th. They issued a "buy" rating and a $40.00 target price for the company. TD Securities initiated coverage on Valvoline in a research report on Friday, April 4th. They set a "buy" rating and a $40.00 price target on the stock. Royal Bank of Canada lifted their price objective on shares of Valvoline from $46.00 to $48.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. increased their target price on shares of Valvoline from $37.00 to $38.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Valvoline presently has a consensus rating of "Moderate Buy" and an average price target of $43.67.

Insider Activity

In other news, insider Julie Marie O'daniel sold 6,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $37.41, for a total value of $224,460.00. Following the completion of the transaction, the insider now directly owns 15,305 shares in the company, valued at $572,560.05. This trade represents a 28.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.66% of the company's stock.

Valvoline Company 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.