Valvoline Inc. (VVV) Shares Sold by Engineers Gate Manager LP
Engineers Gate Manager LP decreased its stake in Valvoline Inc. (NYSE:VVV) by 45.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,809 shares of the basic materials company’s stock after selling 41,630 shares during the period. Engineers Gate Manager LP’s holdings in Valvoline were worth $1,181,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its holdings in shares of Valvoline by 11.8% in the 1st 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 in the last quarter. M&T Bank Corp acquired a new position in shares of Valvoline in the 1st quarter valued at $203,000. TD Asset Management Inc. boosted its holdings in shares of Valvoline by 57.0% in the 1st 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 in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Valvoline by 630.1% in the 1st 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 in the last quarter. Finally, BB&T Corp acquired a new position in shares of Valvoline in the 2nd quarter valued at $2,884,000. Institutional investors and hedge funds own 92.34% of the company’s stock.
Valvoline Inc. (VVV) opened at 22.30 on Thursday. The firm has a market cap of $4.52 billion and a PE ratio of 19.53. Valvoline Inc. has a one year low of $18.30 and a one year high of $24.98. The stock has a 50 day moving average of $22.27 and a 200 day moving average of $22.64.
Valvoline (NYSE:VVV) last issued 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). The company had revenue of $534.00 million during the quarter, compared to the consensus estimate of $530.57 million. Valvoline had a negative return on equity of 106.06% and a net margin of 13.00%. The business’s revenue was up 7.0% compared to the same quarter last year. On average, equities analysts forecast that Valvoline Inc. will post $1.37 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a $0.049 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.88%. Valvoline’s dividend payout ratio (DPR) is presently 15.50%.
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VVV has been the subject of several research analyst reports. Zacks Investment Research cut shares of Valvoline from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. Deutsche Bank AG restated a “hold” rating and issued a $23.00 target price (up previously from $22.00) on shares of Valvoline in a report on Saturday, June 3rd. Seaport Global Securities upgraded shares of Valvoline from a “neutral” rating to a “buy” rating and set a $26.00 target price for the company in a report on Wednesday, June 7th. Finally, J P Morgan Chase & Co restated a “neutral” rating and issued a $22.00 target price (up previously from $20.00) on shares of Valvoline in a report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. The company 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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