VELA Investment Management LLC Acquires 17,568 Shares of Valvoline Inc. (NYSE:VVV)

VELA Investment Management LLC increased its position in shares of Valvoline Inc. (NYSE:VVV) by 41.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60,272 shares of the basic materials company’s stock after acquiring an additional 17,568 shares during the quarter. VELA Investment Management LLC’s holdings in Valvoline were worth $2,522,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Inspire Advisors LLC bought a new stake in Valvoline in the first quarter valued at approximately $237,000. Sei Investments Co. increased its stake in Valvoline by 23.7% in the first quarter. Sei Investments Co. now owns 554,416 shares of the basic materials company’s stock valued at $24,710,000 after purchasing an additional 106,151 shares in the last quarter. Capstone Investment Advisors LLC bought a new stake in Valvoline in the first quarter valued at approximately $1,846,000. Tidal Investments LLC increased its stake in Valvoline by 97.6% in the first quarter. Tidal Investments LLC now owns 29,843 shares of the basic materials company’s stock valued at $1,330,000 after purchasing an additional 14,739 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in Valvoline by 28.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 126,232 shares of the basic materials company’s stock valued at $5,453,000 after purchasing an additional 28,254 shares in the last quarter. Institutional investors own 96.13% of the company’s stock.

Analyst Upgrades and Downgrades

VVV has been the subject of several recent analyst reports. Baird R W raised shares of Valvoline to a “strong-buy” rating in a research note on Thursday, August 15th. Royal Bank of Canada reduced their price target on shares of Valvoline from $54.00 to $48.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Robert W. Baird began coverage on shares of Valvoline in a report on Thursday, August 15th. They issued an “outperform” rating and a $48.00 price target for the company. Stephens began coverage on shares of Valvoline in a report on Tuesday, October 15th. They issued an “overweight” rating and a $49.00 price target for the company. Finally, Wells Fargo & Company reduced their price target on shares of Valvoline from $50.00 to $46.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Valvoline has a consensus rating of “Moderate Buy” and an average price target of $47.75.

Valvoline Stock Up 0.2 %

VVV traded up $0.09 during trading hours on Friday, hitting $40.37. 951,736 shares of the company’s stock were exchanged, compared to its average volume of 988,871. Valvoline Inc. has a 1-year low of $29.15 and a 1-year high of $48.26. The stock’s 50-day moving average is $41.15 and its two-hundred day moving average is $42.00. The stock has a market cap of $5.20 billion, a price-to-earnings ratio of 32.82 and a beta of 1.46. 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 (NYSE:VVV) last announced its earnings results on Wednesday, August 7th. The basic materials company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.03). Valvoline had a return on equity of 182.88% and a net margin of 10.45%. The business had revenue of $421.00 million for the quarter, compared to analyst estimates of $425.17 million. During the same quarter in the previous year, the company posted $0.43 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. Sell-side analysts predict that Valvoline Inc. will post 1.53 earnings per share for the current fiscal year.

Valvoline announced that its Board of Directors has approved a share repurchase plan on Tuesday, July 30th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the basic materials company to buy up to 7.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

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.