Anthracite Investment Company Inc. Buys Shares of 60,000 Valvoline Inc. (NYSE:VVV)

Anthracite Investment Company Inc. bought a new stake in Valvoline Inc. (NYSE:VVV - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 60,000 shares of the basic materials company's stock, valued at approximately $2,511,000.

Several other hedge funds and other institutional investors have also made changes to their positions in VVV. UMB Bank n.a. lifted its position in shares of Valvoline by 92.1% in the third quarter. UMB Bank n.a. now owns 630 shares of the basic materials company's stock valued at $26,000 after acquiring an additional 302 shares in the last quarter. Blue Trust Inc. lifted its holdings in Valvoline by 57.9% in the 2nd quarter. Blue Trust Inc. now owns 728 shares of the basic materials company's stock valued at $32,000 after purchasing an additional 267 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Valvoline during the second quarter worth about $34,000. Mather Group LLC. raised its position in shares of Valvoline by 1,617.0% in the second quarter. Mather Group LLC. now owns 807 shares of the basic materials company's stock valued at $36,000 after buying an additional 760 shares during the last quarter. Finally, Prospera Private Wealth LLC purchased a new position in shares of Valvoline during the third quarter valued at approximately $41,000. Hedge funds and other institutional investors own 96.13% of the company's stock.

Valvoline Stock Down 0.4 %

Shares of NYSE:VVV traded down $0.17 during midday trading on Wednesday, hitting $38.48. 1,770,889 shares of the company's stock traded hands, compared to its average volume of 1,194,010. The firm's fifty day moving average price is $41.43 and its two-hundred day moving average price is $41.99. The company has a debt-to-equity ratio of 10.57, a quick ratio of 0.62 and a current ratio of 0.73. Valvoline Inc. has a twelve month low of $33.86 and a twelve month high of $48.26. The company has a market cap of $4.96 billion, a PE ratio of 31.82 and a beta of 1.46.

Valvoline announced that its board has initiated a share repurchase plan on Tuesday, July 30th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the basic materials company to reacquire up to 7.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have weighed in on VVV shares. Royal Bank of Canada reduced their price target on Valvoline from $52.00 to $46.00 and set an "outperform" rating on the stock in a research note on Wednesday. Stephens assumed coverage on Valvoline in a research note on Tuesday, October 15th. They issued an "overweight" rating and a $49.00 price target on the stock. Morgan Stanley dropped their price objective on shares of Valvoline from $46.00 to $42.00 and set an "overweight" rating for the company in a research note on Wednesday. Wells Fargo & Company decreased their target price on shares of Valvoline from $46.00 to $44.00 and set an "overweight" rating on the stock in a research report on Wednesday. Finally, Robert W. Baird dropped their price target on shares of Valvoline from $48.00 to $46.00 and set an "outperform" rating for the company in a research report on Wednesday. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Valvoline has an average rating of "Buy" and an average price target of $46.25.

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.