Principal Financial Group Inc. Cuts Holdings in Valvoline Inc. (NYSE:VVV)

Principal Financial Group Inc. lessened its holdings in Valvoline Inc. (NYSE:VVV - Free Report) by 30.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 301,196 shares of the basic materials company's stock after selling 129,566 shares during the quarter. Principal Financial Group Inc. owned approximately 0.23% of Valvoline worth $12,605,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in VVV. Tidal Investments LLC lifted its position in shares of Valvoline by 97.6% during the first quarter. Tidal Investments LLC now owns 29,843 shares of the basic materials company's stock valued at $1,330,000 after buying an additional 14,739 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of Valvoline by 28.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 126,232 shares of the basic materials company's stock worth $5,453,000 after purchasing an additional 28,254 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in Valvoline by 6.4% during the 2nd 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 buying an additional 68,340 shares during the last quarter. Texas Permanent School Fund Corp increased its position in Valvoline by 22.8% during the 2nd quarter. Texas Permanent School Fund Corp now owns 139,352 shares of the basic materials company's stock valued at $6,020,000 after buying an additional 25,885 shares in the last quarter. Finally, Mawer Investment Management Ltd. increased its position in Valvoline by 40.5% during the 2nd quarter. Mawer Investment Management Ltd. now owns 424,327 shares of the basic materials company's stock valued at $18,331,000 after buying an additional 122,344 shares in the last quarter. 96.13% of the stock is owned by hedge funds and other institutional investors.

Valvoline Trading Down 1.3 %

VVV traded down $0.54 during trading on Friday, reaching $42.32. The company had a trading volume of 878,608 shares, compared to its average volume of 935,598. Valvoline Inc. has a 12-month low of $33.86 and a 12-month high of $48.26. The firm's 50-day simple moving average is $41.37 and its 200 day simple moving average is $42.03. The company has a debt-to-equity ratio of 10.57, a quick ratio of 0.62 and a current ratio of 0.73. The company has a market cap of $5.45 billion, a price-to-earnings ratio of 34.41 and a beta of 1.46.

Valvoline declared that its board has approved a share buyback plan on Tuesday, July 30th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the basic materials company to buy up to 7.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on VVV shares. Wells Fargo & Company cut their target price on shares of Valvoline from $50.00 to $46.00 and set an "overweight" rating for the company in a report on Thursday, August 8th. Royal Bank of Canada reduced their price target on Valvoline from $54.00 to $48.00 and set an "outperform" rating for the company in a report on Thursday, August 8th. Baird R W raised Valvoline to a "strong-buy" rating in a report on Thursday, August 15th. Stephens assumed coverage on Valvoline in a research note on Tuesday, October 15th. They set an "overweight" rating and a $49.00 target price for the company. Finally, Robert W. Baird started coverage on shares of Valvoline in a research note on Thursday, August 15th. They issued an "outperform" rating and a $48.00 price target on the stock. Two research analysts have 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.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $47.75.

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.