Teachers Retirement System of The State of Kentucky acquired a new position in shares of Valvoline Inc. (NYSE:VVV) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 41,289 shares of the basic materials company’s stock, valued at approximately $979,000.
Several other large investors have also recently made changes to their positions in VVV. Wells Fargo & Company MN raised its holdings in shares of Valvoline by 58.3% during the first quarter. Wells Fargo & Company MN now owns 76,932 shares of the basic materials company’s stock worth $1,889,000 after acquiring an additional 28,343 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Valvoline by 11.8% during the first quarter. Bank of New York Mellon Corp now owns 132,166 shares of the basic materials company’s stock worth $3,245,000 after acquiring an additional 13,938 shares in the last quarter. Parametric Portfolio Associates LLC raised its holdings in shares of Valvoline by 29.0% during the first quarter. Parametric Portfolio Associates LLC now owns 132,047 shares of the basic materials company’s stock worth $3,242,000 after acquiring an additional 29,723 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Valvoline by 630.1% during the first quarter. Pacer Advisors Inc. now owns 5,571 shares of the basic materials company’s stock worth $137,000 after acquiring an additional 4,808 shares in the last quarter. Finally, M&T Bank Corp purchased a new stake in shares of Valvoline during the first quarter worth $203,000. Institutional investors and hedge funds own 92.34% of the company’s stock.
Valvoline Inc. (NYSE VVV) opened at 24.16 on Wednesday. The firm’s 50-day moving average price is $23.22 and its 200 day moving average price is $23.22. The company has a market capitalization of $4.90 billion and a price-to-earnings ratio of 21.16. Valvoline Inc. has a 12-month low of $18.30 and a 12-month high of $24.98.
Valvoline (NYSE:VVV) last issued its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $0.34 EPS for the quarter, missing the 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 $534.00 million for the quarter, compared to the consensus estimate of $530.57 million. Valvoline’s revenue was up 7.0% on a year-over-year basis. On average, equities research analysts expect that Valvoline Inc. will post $1.37 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were given a dividend of $0.049 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.20 annualized dividend and a yield of 0.81%. Valvoline’s dividend payout ratio (DPR) is presently 15.50%.
Several analysts recently issued reports on VVV shares. Zacks Investment Research lowered Valvoline from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. J P Morgan Chase & Co reiterated a “neutral” rating and set a $22.00 price objective (up from $20.00) on shares of Valvoline in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $25.40.
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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