Dynamic Technology Lab Private Ltd purchased a new stake in Valvoline Inc. (NYSE:VVV - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 38,123 shares of the basic materials company's stock, valued at approximately $1,596,000.
Other institutional investors have also modified their holdings of the company. Blue Trust Inc. boosted its stake in Valvoline by 57.9% during the second quarter. Blue Trust Inc. now owns 728 shares of the basic materials company's stock worth $32,000 after buying an additional 267 shares during the last quarter. MAI Capital Management lifted its stake in shares of Valvoline by 2.4% in the 3rd quarter. MAI Capital Management now owns 11,624 shares of the basic materials company's stock valued at $486,000 after purchasing an additional 268 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of Valvoline by 92.1% during the 3rd quarter. UMB Bank n.a. now owns 630 shares of the basic materials company's stock worth $26,000 after purchasing an additional 302 shares during the period. State of New Jersey Common Pension Fund D increased its position in shares of Valvoline by 0.7% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 47,602 shares of the basic materials company's stock worth $1,992,000 after purchasing an additional 313 shares during the last quarter. Finally, Evergreen Capital Management LLC raised its stake in shares of Valvoline by 6.1% in the 2nd quarter. Evergreen Capital Management LLC now owns 6,292 shares of the basic materials company's stock valued at $272,000 after acquiring an additional 359 shares during the period. Institutional investors and hedge funds own 96.13% of the company's stock.
Valvoline Stock Down 1.8 %
Shares of NYSE:VVV traded down $0.70 during trading on Tuesday, hitting $38.79. The company's stock had a trading volume of 1,319,152 shares, compared to its average volume of 1,202,766. The company has a market capitalization of $5.00 billion, a PE ratio of 23.94 and a beta of 1.46. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.61 and a current ratio of 0.72. The stock's 50-day moving average price is $41.26 and its two-hundred day moving average price is $41.85. Valvoline Inc. has a fifty-two week low of $33.86 and a fifty-two week high of $48.26.
Valvoline declared that its Board of Directors has approved a share buyback plan on Tuesday, July 30th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to repurchase up to 7.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.
Insider Buying and Selling at Valvoline
In related news, Director Charles M. Sonsteby bought 10,000 shares of the business's stock in a transaction dated Monday, November 25th. The shares were bought at an average cost of $39.50 per share, with a total value of $395,000.00. Following the completion of the transaction, the director now directly owns 26,437 shares of the company's stock, valued at approximately $1,044,261.50. This trade represents a 60.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.34% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on VVV. Mizuho lowered their target price on Valvoline from $50.00 to $46.00 and set an "outperform" rating for the company in a report on Wednesday, November 20th. Morgan Stanley lowered their price objective on Valvoline from $46.00 to $42.00 and set an "overweight" rating for the company in a research report on Wednesday, November 20th. Royal Bank of Canada decreased their price target on shares of Valvoline from $52.00 to $46.00 and set an "outperform" rating for the company in a research note on Wednesday, November 20th. Baird R W upgraded Valvoline to a "strong-buy" rating in a report on Thursday, August 15th. Finally, Stephens initiated coverage on shares of Valvoline in a research note on Tuesday, October 15th. They issued an "overweight" rating and a $49.00 price objective for the company. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $46.25.
Get Our Latest Stock Report on VVV
About Valvoline
(
Free Report)
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.
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