TimesSquare Capital Management LLC Buys Shares of 74,430 Valvoline Inc. (NYSE:VVV)

TimesSquare Capital Management LLC purchased a new position in shares of Valvoline Inc. (NYSE:VVV - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 74,430 shares of the basic materials company's stock, valued at approximately $3,115,000. TimesSquare Capital Management LLC owned approximately 0.06% of Valvoline at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Atria Investments Inc raised its stake in Valvoline by 19.8% in the third quarter. Atria Investments Inc now owns 20,682 shares of the basic materials company's stock valued at $866,000 after buying an additional 3,424 shares during the period. Assetmark Inc. acquired a new stake in Valvoline during the 3rd quarter valued at $919,000. Fiera Capital Corp acquired a new position in shares of Valvoline in the third quarter valued at $25,538,000. Portside Wealth Group LLC lifted its stake in shares of Valvoline by 6.0% during the 3rd quarter. Portside Wealth Group LLC now owns 12,945 shares of the basic materials company's stock worth $542,000 after buying an additional 731 shares during the last quarter. Finally, Olympiad Research LP bought a new stake in shares of Valvoline during the 3rd quarter worth about $468,000. 96.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on VVV shares. Wells Fargo & Company decreased their target price on Valvoline from $50.00 to $46.00 and set an "overweight" rating on the stock in a research report on Thursday, August 8th. Robert W. Baird began 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. Baird R W raised shares of Valvoline to a "strong-buy" rating in a report on Thursday, August 15th. Citigroup raised their target price on shares of Valvoline from $45.00 to $48.00 and gave the stock a "neutral" rating in a report on Friday, July 19th. Finally, Royal Bank of Canada cut their price target on Valvoline from $54.00 to $48.00 and set an "outperform" rating for the company in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $47.75.

Valvoline Price Performance

Shares of VVV traded up $0.31 during midday trading on Monday, hitting $43.24. The company's stock had a trading volume of 965,296 shares, compared to its average volume of 1,178,064. 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 Inc. has a one year low of $32.40 and a one year high of $48.26. The stock has a market capitalization of $5.57 billion, a price-to-earnings ratio of 34.90 and a beta of 1.46. The company's fifty day simple moving average is $41.16 and its two-hundred day simple moving average is $42.02.

Valvoline announced that its Board of Directors has authorized a share repurchase plan on Tuesday, July 30th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to buy up to 7.6% of its stock through open market purchases. Stock repurchase plans are usually a sign 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.