Joel Isaacson & Co. LLC Buys New Position in Valvoline Inc. (VVV)
Joel Isaacson & Co. LLC bought a new stake in Valvoline Inc. (NYSE:VVV) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 10,981 shares of the basic materials company’s stock, valued at approximately $260,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. HL Financial Services LLC bought a new stake in Valvoline during the second quarter valued at $656,000. TD Asset Management Inc. increased its stake in Valvoline by 169.6% in the second quarter. TD Asset Management Inc. now owns 423,328 shares of the basic materials company’s stock valued at $10,041,000 after buying an additional 266,328 shares during the last quarter. Novare Capital Management LLC bought a new stake in Valvoline during the second quarter valued at $1,049,000. Retirement Systems of Alabama bought a new stake in Valvoline during the second quarter valued at $8,878,000. Finally, Sei Investments Co. increased its stake in Valvoline by 16.1% in the second quarter. Sei Investments Co. now owns 290,199 shares of the basic materials company’s stock valued at $6,884,000 after buying an additional 40,313 shares during the last quarter. 28.34% of the stock is owned by hedge funds and other institutional investors.
Shares of Valvoline Inc. (VVV) opened at 22.32 on Thursday. The stock has a market cap of $4.55 billion and a P/E ratio of 19.54. Valvoline Inc. has a 1-year low of $18.30 and a 1-year high of $24.98. The company has a 50 day moving average price of $23.04 and a 200 day moving average price of $23.09.
Valvoline (NYSE:VVV) last posted its earnings results on Tuesday, August 1st. The basic materials company reported $0.34 earnings per share (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 firm had revenue of $534 million for the quarter, compared to analysts’ expectations of $530.57 million. Valvoline’s quarterly revenue was up 7.0% on a year-over-year basis. On average, equities analysts anticipate that Valvoline Inc. will post $1.38 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a dividend of $0.049 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Wednesday, August 30th. Valvoline’s payout ratio is currently 15.50%.
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Several research firms recently weighed in on VVV. J P Morgan Chase & Co restated a “neutral” rating and issued a $22.00 price target (up previously from $20.00) on shares of Valvoline in a research note on Wednesday. Zacks Investment Research downgraded Valvoline from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Seaport Global Securities upgraded Valvoline from a “neutral” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Wednesday, June 7th. Finally, Deutsche Bank AG restated 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $25.83.
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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