TIAA CREF Investment Management LLC Grows Stake in Valvoline Inc. (VVV)
TIAA CREF Investment Management LLC grew its position in Valvoline Inc. (NYSE:VVV) by 4,232.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,969,755 shares of the basic materials company’s stock after acquiring an additional 3,878,130 shares during the quarter. TIAA CREF Investment Management LLC owned about 1.95% of Valvoline worth $94,163,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Boston Partners lifted its position in shares of Valvoline by 344.0% in the second quarter. Boston Partners now owns 9,213,982 shares of the basic materials company’s stock valued at $218,556,000 after acquiring an additional 7,138,800 shares in the last quarter. Evercore Trust Company N.A. purchased a new position in shares of Valvoline in the second quarter valued at approximately $136,610,000. Neuberger Berman Group LLC lifted its position in shares of Valvoline by 512.3% in the second quarter. Neuberger Berman Group LLC now owns 3,833,268 shares of the basic materials company’s stock valued at $90,925,000 after acquiring an additional 3,207,198 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Valvoline by 105.1% in the first quarter. Vanguard Group Inc. now owns 3,793,964 shares of the basic materials company’s stock valued at $93,142,000 after acquiring an additional 1,944,594 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Valvoline by 23.3% in the second quarter. JPMorgan Chase & Co. now owns 3,176,653 shares of the basic materials company’s stock valued at $75,351,000 after acquiring an additional 600,060 shares in the last quarter. Institutional investors and hedge funds own 92.34% of the company’s stock.
VVV has been the topic of several research reports. 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 research report on Saturday, June 3rd. Seaport Global Securities upgraded Valvoline from a “neutral” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Wednesday, June 7th. Zacks Investment Research upgraded Valvoline from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research report on Wednesday, June 7th. Finally, J P Morgan Chase & Co reiterated a “neutral” rating and set a $22.00 price objective (up previously from $20.00) on shares of Valvoline in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $25.83.
Valvoline Inc. (VVV) opened at 22.49 on Friday. Valvoline Inc. has a 12 month low of $18.30 and a 12 month high of $24.98. The company’s 50-day moving average price is $22.41 and its 200-day moving average price is $22.59. The stock has a market cap of $4.56 billion and a P/E ratio of 19.69.
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 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 company had revenue of $534.00 million during the quarter, compared to analysts’ expectations of $530.57 million. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. Equities analysts forecast that Valvoline Inc. will post $1.37 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were paid a $0.049 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date was Wednesday, August 30th. Valvoline’s payout ratio is currently 15.50%.
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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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