Retirement Systems of Alabama Decreases Stake in Valvoline Inc. (NYSE:VVV)

Retirement Systems of Alabama trimmed its position in shares of Valvoline Inc. (NYSE:VVV - Free Report) by 42.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 156,542 shares of the basic materials company's stock after selling 115,496 shares during the period. Retirement Systems of Alabama owned approximately 0.12% of Valvoline worth $6,551,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. UMB Bank n.a. grew its holdings in shares of Valvoline by 92.1% in the third quarter. UMB Bank n.a. now owns 630 shares of the basic materials company's stock valued at $26,000 after purchasing an additional 302 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Valvoline by 57.9% in the second quarter. Blue Trust Inc. now owns 728 shares of the basic materials company's stock worth $32,000 after acquiring an additional 267 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Valvoline during the second quarter worth $34,000. Prospera Private Wealth LLC acquired a new stake in shares of Valvoline in the third quarter valued at $41,000. Finally, GAMMA Investing LLC raised its stake in shares of Valvoline by 46.5% in the third quarter. GAMMA Investing LLC now owns 1,465 shares of the basic materials company's stock valued at $61,000 after acquiring an additional 465 shares in the last quarter. 96.13% of the stock is currently owned by hedge funds and other institutional investors.

Valvoline Stock Performance

Shares of Valvoline stock traded down $0.51 on Thursday, hitting $36.27. The stock had a trading volume of 1,686,355 shares, compared to its average volume of 1,230,962. The stock has a market cap of $4.66 billion, a price-to-earnings ratio of 22.39 and a beta of 1.43. The company has a current ratio of 0.72, a quick ratio of 0.61 and a debt-to-equity ratio of 5.77. Valvoline Inc. has a 52-week low of $33.86 and a 52-week high of $48.26. The company's 50 day moving average price is $40.39 and its 200 day moving average price is $41.55.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Wells Fargo & Company decreased their price objective on Valvoline from $46.00 to $44.00 and set an "overweight" rating for the company in a research note on Wednesday, November 20th. Royal Bank of Canada lowered their price target on shares of Valvoline from $52.00 to $46.00 and set an "outperform" rating for the company in a report on Wednesday, November 20th. Morgan Stanley reduced their price objective on shares of Valvoline from $46.00 to $42.00 and set an "overweight" rating on the stock in a report on Wednesday, November 20th. Stephens initiated coverage on shares of Valvoline in a research note on Tuesday, October 15th. They set an "overweight" rating and a $49.00 target price for the company. Finally, Mizuho dropped their target price on Valvoline from $50.00 to $46.00 and set an "outperform" rating on the stock in a report on Wednesday, November 20th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Valvoline currently has a consensus rating of "Buy" and an average price target of $46.25.

Insiders Place Their Bets

In other Valvoline news, CTO Robert Travis Dobbins sold 1,914 shares of the company's stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $40.00, for a total transaction of $76,560.00. Following the completion of the sale, the chief technology officer now directly owns 14,956 shares of the company's stock, valued at $598,240. This represents a 11.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles M. Sonsteby bought 10,000 shares of the stock in a transaction on Monday, November 25th. The stock was bought at an average price of $39.50 per share, for a total transaction of $395,000.00. Following the completion of the purchase, the director now directly owns 26,437 shares in the company, valued at approximately $1,044,261.50. The trade was a 60.84 % increase in their position. The disclosure for this purchase can be found here. 1.34% of the stock is currently owned by corporate insiders.

Valvoline Company 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.