Wedbush Securities Inc. increased its position in shares of Valvoline Inc. (NYSE:VVV) by 15.6% during the second quarter, Holdings Channel reports. The firm owned 17,375 shares of the basic materials company’s stock after buying an additional 2,345 shares during the period. Wedbush Securities Inc.’s holdings in Valvoline were worth $412,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of VVV. State Street Corp bought a new stake in shares of Valvoline during the fourth quarter worth about $6,508,000. UBS Asset Management Americas Inc. bought a new stake in shares of Valvoline during the fourth quarter worth about $1,179,000. Teachers Advisors LLC bought a new stake in shares of Valvoline during the fourth quarter worth about $737,000. Acadian Asset Management LLC raised its stake in shares of Valvoline by 53.5% in the first quarter. Acadian Asset Management LLC now owns 114,450 shares of the basic materials company’s stock worth $2,811,000 after buying an additional 39,902 shares during the period. Finally, First Quadrant L P CA bought a new stake in shares of Valvoline during the first quarter worth about $1,642,000. 41.01% of the stock is owned by institutional investors.
Valvoline Inc. (NYSE VVV) opened at 22.14 on Thursday. The company has a market cap of $4.49 billion and a P/E ratio of 19.39. The stock’s 50 day moving average is $22.80 and its 200-day moving average is $23.08. Valvoline Inc. has a 12-month low of $18.30 and a 12-month high of $24.98.
Valvoline (NYSE:VVV) last announced its earnings results on Tuesday, August 1st. The basic materials company reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by $0.01. Valvoline had a negative return on equity of 106.06% and a net margin of 13.00%. The business had revenue of $534 million for the quarter, compared to analyst estimates of $530.57 million. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. Analysts predict that Valvoline Inc. will post $1.37 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a dividend of $0.049 per share. This represents a $0.20 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Wednesday, August 30th. Valvoline’s payout ratio is 15.50%.
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VVV has been the subject of a number of research reports. Zacks Investment Research raised shares of Valvoline from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Friday, April 28th. Deutsche Bank AG reissued a “hold” rating and set a $23.00 target price (up previously from $22.00) on shares of Valvoline in a research note on Saturday, June 3rd. Finally, Seaport Global Securities raised shares of Valvoline from a “neutral” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Wednesday, June 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $25.83.
Valvoline Company Profile
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.
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