Millennium Management LLC Purchases 54,565 Shares of Valvoline Inc. (NYSE:VVV)

Millennium Management LLC boosted its holdings in Valvoline Inc. (NYSE:VVV - Free Report) by 33.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 217,564 shares of the basic materials company's stock after acquiring an additional 54,565 shares during the period. Millennium Management LLC owned 0.17% of Valvoline worth $9,399,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in Valvoline by 57.9% in the second quarter. Blue Trust Inc. now owns 728 shares of the basic materials company's stock valued at $32,000 after buying an additional 267 shares during the last quarter. Evergreen Capital Management LLC boosted its stake in shares of Valvoline by 6.1% during the second quarter. Evergreen Capital Management LLC now owns 6,292 shares of the basic materials company's stock worth $272,000 after buying an additional 359 shares during the period. Victory Capital Management Inc. lifted its position in Valvoline by 2.0% in the second quarter. Victory Capital Management Inc. now owns 27,158 shares of the basic materials company's stock valued at $1,173,000 after purchasing an additional 537 shares during the period. Linden Thomas Advisory Services LLC lifted its position in Valvoline by 1.2% in the second quarter. Linden Thomas Advisory Services LLC now owns 46,713 shares of the basic materials company's stock valued at $2,018,000 after purchasing an additional 541 shares during the period. Finally, Arizona State Retirement System increased its holdings in Valvoline by 1.6% in the second quarter. Arizona State Retirement System now owns 34,481 shares of the basic materials company's stock valued at $1,490,000 after buying an additional 544 shares in the last quarter. 96.13% of the stock is currently owned by institutional investors and hedge funds.

Valvoline Stock Performance

Valvoline stock traded up $0.43 during midday trading on Wednesday, reaching $40.29. 1,020,041 shares of the stock traded hands, compared to its average volume of 1,203,940. The company has a current ratio of 0.73, a quick ratio of 0.62 and a debt-to-equity ratio of 10.57. The firm has a fifty day moving average price of $41.23 and a two-hundred day moving average price of $42.24. The firm has a market cap of $5.19 billion, a price-to-earnings ratio of 31.90 and a beta of 1.45. Valvoline Inc. has a fifty-two week low of $29.15 and a fifty-two week high of $48.26.

Valvoline (NYSE:VVV - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The basic materials company reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.48 by ($0.03). The company had revenue of $421.00 million during the quarter, compared to analyst estimates of $425.17 million. Valvoline had a return on equity of 182.88% and a net margin of 10.45%. The company's revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.43 earnings per share. On average, equities research analysts forecast that Valvoline Inc. will post 1.53 earnings per share for the current year.

Valvoline announced that its board has initiated a share buyback 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 usually a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on VVV shares. Piper Sandler began coverage on shares of Valvoline in a research note on Wednesday, June 12th. They set an "overweight" rating and a $49.00 price objective for the company. Citigroup lifted their price target on shares of Valvoline from $45.00 to $48.00 and gave the stock a "neutral" rating in a research note on Friday, July 19th. Royal Bank of Canada dropped their target price on shares of Valvoline from $54.00 to $48.00 and set an "outperform" rating for the company in a research report on Thursday, August 8th. Robert W. Baird began coverage on shares of Valvoline in a research report on Thursday, August 15th. They issued an "outperform" rating and a $48.00 target price for the company. Finally, Wells Fargo & Company dropped their target price on shares of Valvoline from $50.00 to $46.00 and set an "overweight" rating for the company in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Valvoline has a consensus rating of "Moderate Buy" and a consensus target price of $47.57.

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.