Valvoline Inc. (NYSE:VVV) Shares Bought by VELA Investment Management LLC

VELA Investment Management LLC increased its holdings in Valvoline Inc. (NYSE:VVV - Free Report) by 41.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,272 shares of the basic materials company's stock after buying an additional 17,568 shares during the period. VELA Investment Management LLC's holdings in Valvoline were worth $2,522,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Congress Asset Management Co. boosted its holdings in Valvoline by 2.8% in the 3rd quarter. Congress Asset Management Co. now owns 3,656,672 shares of the basic materials company's stock worth $153,032,000 after acquiring an additional 100,305 shares during the period. Dimensional Fund Advisors LP raised its stake in Valvoline by 3.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,720,748 shares of the basic materials company's stock valued at $117,534,000 after acquiring an additional 94,673 shares in the last quarter. Sculptor Capital LP raised its stake in shares of Valvoline by 187.6% during the second quarter. Sculptor Capital LP now owns 1,879,500 shares of the basic materials company's stock valued at $81,194,000 after purchasing an additional 1,226,000 shares in the last quarter. Commerce Bank lifted its stake in shares of Valvoline by 0.8% in the 1st quarter. Commerce Bank now owns 1,197,378 shares of the basic materials company's stock worth $53,367,000 after acquiring an additional 10,086 shares during the period. Finally, Vaughan Nelson Investment Management L.P. raised its position in Valvoline by 6.4% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,130,920 shares of the basic materials company's stock worth $48,857,000 after acquiring an additional 68,340 shares in the last quarter. 96.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on VVV. Citigroup increased their price target on Valvoline from $45.00 to $48.00 and gave the company a "neutral" rating in a research report on Friday, July 19th. Stephens started coverage on Valvoline in a research note on Tuesday, October 15th. They issued an "overweight" rating and a $49.00 price objective on the stock. Robert W. Baird started coverage on Valvoline in a research note on Thursday, August 15th. They issued an "outperform" rating and a $48.00 price objective on the stock. Wells Fargo & Company dropped their price target on Valvoline from $50.00 to $46.00 and set an "overweight" rating on the stock in a research report on Thursday, August 8th. Finally, Royal Bank of Canada lowered their price objective on Valvoline from $54.00 to $48.00 and set an "outperform" rating on the stock in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $47.75.

Valvoline Trading Up 0.2 %

VVV traded up $0.09 during midday trading on Friday, hitting $40.37. 951,736 shares of the company were exchanged, compared to its average volume of 988,871. The firm has a market capitalization of $5.20 billion, a P/E ratio of 32.82 and a beta of 1.46. Valvoline Inc. has a 1-year low of $29.15 and a 1-year high of $48.26. The firm's 50 day moving average price is $41.15 and its 200-day moving average price is $42.00. The company has a quick ratio of 0.62, a current ratio of 0.73 and a debt-to-equity ratio of 10.57.

Valvoline (NYSE:VVV - Get Free Report) last announced 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 analysts' expectations of $425.17 million. Valvoline had a return on equity of 182.88% and a net margin of 10.45%. Valvoline's quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.43 EPS. As a group, equities analysts forecast that Valvoline Inc. will post 1.53 EPS for the current fiscal year.

Valvoline announced that its Board of Directors has initiated a share repurchase plan on Tuesday, July 30th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the basic materials company to reacquire up to 7.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors 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.