Geode Capital Management LLC boosted its stake in Valvoline Inc (NYSE:VVV) by 1.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,713,048 shares of the basic materials company’s stock after buying an additional 25,774 shares during the period. Geode Capital Management LLC owned approximately 0.86% of Valvoline worth $42,928,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in VVV. Crossmark Global Holdings Inc. acquired a new position in shares of Valvoline during the 3rd quarter worth approximately $453,000. New York State Common Retirement Fund grew its position in shares of Valvoline by 11.8% during the 3rd quarter. New York State Common Retirement Fund now owns 553,921 shares of the basic materials company’s stock worth $12,989,000 after purchasing an additional 58,437 shares in the last quarter. Rhumbline Advisers grew its position in shares of Valvoline by 8.3% during the 3rd quarter. Rhumbline Advisers now owns 421,071 shares of the basic materials company’s stock worth $9,874,000 after purchasing an additional 32,324 shares in the last quarter. Teacher Retirement System of Texas grew its position in shares of Valvoline by 616.7% during the 3rd quarter. Teacher Retirement System of Texas now owns 117,174 shares of the basic materials company’s stock worth $2,748,000 after purchasing an additional 100,825 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Valvoline by 1.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,317,608 shares of the basic materials company’s stock worth $54,347,000 after purchasing an additional 29,167 shares in the last quarter. Hedge funds and other institutional investors own 98.19% of the company’s stock.
A number of brokerages have issued reports on VVV. Zacks Investment Research lowered shares of Valvoline from a “buy” rating to a “hold” rating in a research report on Saturday, February 3rd. Morgan Stanley reduced their price target on shares of Valvoline from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Friday, February 9th. JPMorgan Chase & Co. increased their price target on shares of Valvoline from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Wolfe Research assumed coverage on shares of Valvoline in a research report on Wednesday, March 7th. They set an “outperform” rating on the stock. Finally, ValuEngine lowered shares of Valvoline from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. Valvoline presently has an average rating of “Hold” and an average target price of $25.86.
Valvoline (NYSE:VVV) last issued its quarterly earnings data on Wednesday, February 7th. The basic materials company reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.01. The business had revenue of $545.00 million during the quarter, compared to the consensus estimate of $530.10 million. Valvoline had a net margin of 10.37% and a negative return on equity of 148.14%. The firm’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.35 EPS. equities analysts expect that Valvoline Inc will post 1.35 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st were paid a dividend of $0.0745 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend was Wednesday, February 28th. Valvoline’s payout ratio is currently 27.52%.
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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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