Voya Investment Management LLC lowered its position in shares of Valvoline Inc (NYSE:VVV) by 8.0% in the second quarter, HoldingsChannel reports. The firm owned 320,207 shares of the basic materials company’s stock after selling 27,673 shares during the quarter. Voya Investment Management LLC’s holdings in Valvoline were worth $6,907,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of VVV. Wells Fargo & Company MN grew its stake in shares of Valvoline by 2.7% during the first quarter. Wells Fargo & Company MN now owns 1,783,294 shares of the basic materials company’s stock worth $39,464,000 after purchasing an additional 46,979 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Valvoline by 4.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 979,728 shares of the basic materials company’s stock worth $21,682,000 after purchasing an additional 44,932 shares in the last quarter. KBC Group NV acquired a new position in shares of Valvoline during the first quarter worth $525,000. BlackRock Inc. grew its stake in shares of Valvoline by 0.6% during the first quarter. BlackRock Inc. now owns 16,864,975 shares of the basic materials company’s stock worth $373,222,000 after purchasing an additional 97,343 shares in the last quarter. Finally, Natixis Advisors L.P. grew its stake in shares of Valvoline by 29.9% during the first quarter. Natixis Advisors L.P. now owns 103,374 shares of the basic materials company’s stock worth $2,288,000 after purchasing an additional 23,794 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.
In other Valvoline news, insider Anthony R. Puckett sold 6,132 shares of the company’s stock in a transaction on Tuesday, July 10th. The shares were sold at an average price of $21.72, for a total value of $133,187.04. Following the completion of the transaction, the insider now owns 5,445 shares in the company, valued at $118,265.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.59% of the company’s stock.
Valvoline (NYSE:VVV) last released its quarterly earnings data on Wednesday, August 1st. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). Valvoline had a net margin of 10.10% and a negative return on equity of 124.61%. The company had revenue of $577.00 million during the quarter, compared to analyst estimates of $591.49 million. During the same quarter in the prior year, the company earned $0.34 EPS. The business’s revenue was up 8.1% on a year-over-year basis. sell-side analysts anticipate that Valvoline Inc will post 1.29 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 17th. Shareholders of record on Friday, August 31st were paid a $0.0745 dividend. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $0.30 annualized dividend and a yield of 1.39%. Valvoline’s dividend payout ratio is presently 21.58%.
Several equities analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Valvoline from a “sell” rating to a “hold” rating in a research note on Thursday, September 6th. Seaport Global Securities upgraded shares of Valvoline from a “neutral” rating to a “buy” rating in a research note on Monday, September 17th. Monness Crespi & Hardt decreased their price objective on shares of Valvoline from $28.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, August 3rd. ValuEngine upgraded shares of Valvoline from a “sell” rating to a “hold” rating in a research note on Tuesday, July 10th. Finally, Morgan Stanley decreased their price objective on shares of Valvoline from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $25.14.
Valvoline Company Profile
Valvoline Inc manufactures and markets engine and automotive maintenance products and services. It operates through three segments: Core North America, Quick Lubes, and International. The company offers lubricants for passenger car/light duty and heavy duty; antifreeze/coolants for original equipment manufacturers; functional and maintenance chemicals, such as brake fluids and power steering fluids, as well as specialty coatings for automotive and industrial applications comprising rust prevention and sound absorption; and oil and air filters for light-duty vehicles.
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