Louisiana State Employees Retirement System Buys Shares of 53,300 Valvoline Inc. (NYSE:VVV)

Louisiana State Employees Retirement System acquired a new stake in Valvoline Inc. (NYSE:VVV) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 53,300 shares of the basic materials company’s stock, valued at approximately $1,264,000.

Several other large investors have also recently bought and sold shares of the company. City Holding Co. bought a new position in shares of Valvoline during the second quarter worth $128,000. Pacer Advisors Inc. increased its position in shares of Valvoline by 630.1% in the first quarter. Pacer Advisors Inc. now owns 5,571 shares of the basic materials company’s stock worth $137,000 after buying an additional 4,808 shares during the last quarter. Legal & General Group Plc increased its position in shares of Valvoline by 1,210.5% in the first quarter. Legal & General Group Plc now owns 8,204 shares of the basic materials company’s stock worth $201,000 after buying an additional 7,578 shares during the last quarter. M&T Bank Corp bought a new position in shares of Valvoline during the first quarter worth $203,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Valvoline during the first quarter worth $218,000. 27.71% of the stock is owned by institutional investors.

Shares of Valvoline Inc. (VVV) traded down 1.80% during midday trading on Thursday, hitting $22.39. The company had a trading volume of 385,028 shares. Valvoline Inc. has a one year low of $18.30 and a one year high of $24.98. The stock’s 50-day moving average price is $23.25 and its 200-day moving average price is $23.10. The stock has a market capitalization of $4.58 billion and a price-to-earnings ratio of 16.22.

Valvoline (NYSE:VVV) last released its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by $0.01. Valvoline had a negative return on equity of 98.90% and a net margin of 13.00%. The company had revenue of $534 million during the quarter, compared to the consensus estimate of $530.57 million. Valvoline’s quarterly revenue was up 7.0% compared to the same quarter last year. Analysts predict that Valvoline Inc. will post $1.39 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a $0.049 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Wednesday, August 30th. Valvoline’s payout ratio is currently 15.50%.

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A number of research analysts recently weighed in on VVV shares. Zacks Investment Research raised Valvoline from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a report on Wednesday, June 21st. Seaport Global Securities raised Valvoline from a “neutral” rating to a “buy” rating and set a $26.00 price objective on the stock in a report on Wednesday, June 7th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $23.00 price target (up previously from $22.00) on shares of Valvoline in a research note on Saturday, June 3rd. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $26.18.

About Valvoline

Valvoline Inc (Valvoline) is engaged in the production and distribution of automotive, commercial and industrial lubricants, and automotive chemicals. The Company operates through three segments: Core North America, Quick Lubes and International. The Core North America segment sells Valvoline, and other branded and private label products in the United States and Canada to both consumers performing their own automotive maintenance, referred to as Do-It-Yourself (DIY) consumers, as well as, to installer customers using Valvoline products to service vehicles owned by Do-It-For-Me (DIFM) consumers.