Valvoline Inc (NYSE:VVV) was the target of a large decline in short interest in the month of June. As of June 30th, there was short interest totalling 6,113,400 shares, a decline of 6.6% from the May 30th total of 6,543,700 shares. Currently, 3.3% of the shares of the company are sold short. Based on an average trading volume of 1,160,000 shares, the short-interest ratio is presently 5.3 days.
Several hedge funds have recently made changes to their positions in VVV. Meridian Wealth Management LLC acquired a new position in Valvoline in the first quarter valued at about $25,000. Quadrant Capital Group LLC lifted its position in Valvoline by 958.3% in the first quarter. Quadrant Capital Group LLC now owns 1,524 shares of the basic materials company’s stock valued at $26,000 after buying an additional 1,380 shares during the last quarter. Claybrook Capital LLC acquired a new stake in shares of Valvoline during the fourth quarter worth about $36,000. Hilton Capital Management LLC acquired a new stake in shares of Valvoline during the first quarter worth about $56,000. Finally, Advisor Group Inc. lifted its position in shares of Valvoline by 19.5% during the fourth quarter. Advisor Group Inc. now owns 3,511 shares of the basic materials company’s stock worth $68,000 after purchasing an additional 572 shares in the last quarter. 96.78% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on VVV shares. Zacks Investment Research lowered shares of Hammerson from a “hold” rating to a “sell” rating in a report on Friday, May 24th. Buckingham Research set a $77.00 target price on shares of MSC Industrial Direct and gave the company a “hold” rating in a report on Monday, July 1st. Morgan Stanley lifted their target price on shares of Zynga and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, Monness Crespi & Hardt reaffirmed a “buy” rating and set a $97.00 target price (up from $95.00) on shares of Fortinet in a report on Friday, May 3rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $22.63.
Valvoline (NYSE:VVV) last issued its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. The company had revenue of $591.00 million during the quarter, compared to analyst estimates of $596.71 million. Valvoline had a net margin of 9.70% and a negative return on equity of 76.15%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.34 EPS. As a group, research analysts anticipate that Valvoline will post 1.31 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 31st were given a dividend of $0.106 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $0.42 annualized dividend and a dividend yield of 2.12%. Valvoline’s payout ratio is 32.56%.
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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