Capstone Asset Management Co. Purchases New Position in Valvoline Inc. (NYSE:VVV)
Capstone Asset Management Co. purchased a new stake in shares of Valvoline Inc. (NYSE:VVV) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 17,606 shares of the basic materials company’s stock, valued at approximately $418,000.
Several other large investors also recently modified their holdings of the stock. State Street Corp bought a new stake in shares of Valvoline during the fourth quarter valued at $6,508,000. M&T Bank Corp bought a new stake in shares of Valvoline during the first quarter valued at $203,000. Bank of New York Mellon Corp boosted its stake in shares of Valvoline by 11.8% in the first quarter. Bank of New York Mellon Corp now owns 132,166 shares of the basic materials company’s stock valued at $3,245,000 after buying an additional 13,938 shares during the last quarter. TD Asset Management Inc. boosted its stake in shares of Valvoline by 57.0% in the first quarter. TD Asset Management Inc. now owns 157,000 shares of the basic materials company’s stock valued at $3,854,000 after buying an additional 57,000 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in shares of Valvoline by 630.1% in the first quarter. Pacer Advisors Inc. now owns 5,571 shares of the basic materials company’s stock valued at $137,000 after buying an additional 4,808 shares during the last quarter. 27.71% of the stock is owned by institutional investors.
Valvoline Inc. (VVV) traded down 0.04% during midday trading on Friday, reaching $22.32. The company had a trading volume of 1,398,151 shares. The company has a 50-day moving average price of $23.25 and a 200-day moving average price of $23.10. The stock has a market capitalization of $4.55 billion and a price-to-earnings ratio of 19.54. Valvoline Inc. has a one year low of $18.30 and a one year high of $24.98.
Valvoline (NYSE:VVV) last announced its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by $0.01. Valvoline had a net margin of 13.00% and a negative return on equity of 106.06%. The business had revenue of $534 million for the quarter, compared to analysts’ expectations of $530.57 million. The business’s revenue was up 7.0% on a year-over-year basis. On average, equities analysts expect that Valvoline Inc. will post $1.38 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a dividend of $0.049 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.20 dividend on an annualized basis and a yield of 0.88%. Valvoline’s dividend payout ratio is presently 15.50%.
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VVV has been the subject of several recent research reports. Zacks Investment Research raised Valvoline from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Wednesday, June 7th. Deutsche Bank AG reissued a “hold” rating and issued a $23.00 price target (up previously from $22.00) on shares of Valvoline in a research note on Saturday, June 3rd. Finally, Seaport Global Securities raised Valvoline from a “neutral” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Wednesday, June 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $26.18.
Valvoline Company Profile
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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