Handelsbanken Fonder AB Grows Stock Holdings in Valvoline Inc. (NYSE:VVV)

Handelsbanken Fonder AB boosted its holdings in shares of Valvoline Inc. (NYSE:VVV - Free Report) by 50.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,400 shares of the basic materials company's stock after purchasing an additional 13,800 shares during the quarter. Handelsbanken Fonder AB's holdings in Valvoline were worth $1,733,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its stake in shares of Valvoline by 57.9% during the 2nd 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. Evergreen Capital Management LLC lifted its stake in 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 purchasing an additional 359 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Valvoline by 2.0% in the second quarter. Victory Capital Management Inc. now owns 27,158 shares of the basic materials company's stock worth $1,173,000 after acquiring an additional 537 shares during the last quarter. Linden Thomas Advisory Services LLC boosted 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 buying an additional 541 shares in the last quarter. Finally, Arizona State Retirement System grew its position in Valvoline by 1.6% during the 2nd quarter. Arizona State Retirement System now owns 34,481 shares of the basic materials company's stock worth $1,490,000 after acquiring an additional 544 shares during the last quarter. Institutional investors and hedge funds own 96.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on VVV. Robert W. Baird started coverage on Valvoline in a research report on Thursday, August 15th. They issued an "outperform" rating and a $48.00 price target on the stock. Citigroup boosted their target price on shares of Valvoline from $45.00 to $48.00 and gave the company a "neutral" rating in a research note on Friday, July 19th. Royal Bank of Canada lowered their target price on shares of Valvoline from $54.00 to $48.00 and set an "outperform" rating on the stock in a report on Thursday, August 8th. Wells Fargo & Company decreased their target price on shares of Valvoline from $50.00 to $46.00 and set an "overweight" rating on the stock in a report on Thursday, August 8th. Finally, Baird R W upgraded shares of Valvoline to a "strong-buy" rating in a research report on Thursday, August 15th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $47.57.

Valvoline Price Performance

Shares of NYSE:VVV traded up $0.44 during trading on Friday, hitting $40.74. 970,182 shares of the company's stock were exchanged, compared to its average volume of 1,202,852. Valvoline Inc. has a 52-week low of $29.15 and a 52-week high of $48.26. The company has a debt-to-equity ratio of 10.57, a current ratio of 0.73 and a quick ratio of 0.62. The company has a market cap of $5.25 billion, a price-to-earnings ratio of 33.00 and a beta of 1.45. The business's 50-day simple moving average is $41.00 and its 200 day simple moving average is $42.21.

Valvoline (NYSE:VVV - Get Free Report) last posted its 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 business had revenue of $421.00 million during the quarter, compared to the consensus estimate of $425.17 million. Valvoline had a return on equity of 182.88% and a net margin of 10.45%. The business's quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.43 earnings per share. As a group, equities analysts predict that Valvoline Inc. will post 1.53 EPS for the current year.

Valvoline declared that its Board of Directors has initiated a stock buyback plan on Tuesday, July 30th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the basic materials company to purchase up to 7.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

About Valvoline

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.