Raymond James & Associates raised its position in Valvoline Inc (NYSE:VVV) by 15.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 239,795 shares of the basic materials company’s stock after purchasing an additional 31,502 shares during the quarter. Raymond James & Associates’ holdings in Valvoline were worth $6,009,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of VVV. Chicago Partners Investment Group LLC grew its stake in Valvoline by 600.2% in the third quarter. Chicago Partners Investment Group LLC now owns 6,400 shares of the basic materials company’s stock valued at $150,000 after purchasing an additional 5,486 shares in the last quarter. Leavell Investment Management Inc. purchased a new position in Valvoline in the fourth quarter valued at about $206,000. Good Life Advisors LLC purchased a new position in Valvoline in the fourth quarter valued at about $241,000. Dean Capital Investments Management LLC purchased a new position in Valvoline in the fourth quarter valued at about $254,000. Finally, Zions Bancorporation grew its stake in Valvoline by 70.4% in the third quarter. Zions Bancorporation now owns 11,907 shares of the basic materials company’s stock valued at $279,000 after purchasing an additional 4,918 shares in the last quarter. Hedge funds and other institutional investors own 95.50% of the company’s stock.
VVV has been the topic of a number of recent research reports. ValuEngine downgraded Valvoline from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. JPMorgan Chase & Co. boosted their target price on Valvoline from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Longbow Research boosted their target price on Valvoline from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, December 21st. Zacks Investment Research restated a “buy” rating and issued a $27.00 target price on shares of Valvoline in a research note on Saturday, February 10th. Finally, Morgan Stanley reduced their price target on Valvoline from $28.00 to $27.00 and set an “equal weight” rating for the company in a research report on Friday, February 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $25.86.
Valvoline (NYSE:VVV) last announced its quarterly earnings results on Wednesday, February 7th. The basic materials company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. Valvoline had a negative return on equity of 148.14% and a net margin of 10.37%. The company had revenue of $545.00 million during the quarter, compared to analysts’ expectations of $530.10 million. During the same quarter in the previous year, the firm earned $0.35 earnings per share. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. analysts predict that Valvoline Inc will post 1.35 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st were given a $0.0745 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.35%. Valvoline’s dividend payout ratio is currently 21.58%.
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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