Epoch Investment Partners Inc. Increases Holdings in Valvoline Inc (VVV)
Epoch Investment Partners Inc. raised its stake in Valvoline Inc (NYSE:VVV) by 33.4% during the second quarter, Holdings Channel reports. The fund owned 2,210,031 shares of the basic materials company’s stock after purchasing an additional 553,718 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Valvoline were worth $47,670,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in VVV. Wells Fargo & Company MN increased its holdings in Valvoline by 2.7% in the 1st quarter. Wells Fargo & Company MN now owns 1,783,294 shares of the basic materials company’s stock valued at $39,464,000 after acquiring an additional 46,979 shares during the last quarter. Comerica Bank grew its stake in shares of Valvoline by 70.7% in the 1st quarter. Comerica Bank now owns 274,789 shares of the basic materials company’s stock worth $5,820,000 after buying an additional 113,810 shares in the last quarter. Mackay Shields LLC purchased a new position in shares of Valvoline in the 1st quarter worth $621,000. American Century Companies Inc. grew its stake in shares of Valvoline by 151.9% in the 1st quarter. American Century Companies Inc. now owns 3,463,158 shares of the basic materials company’s stock worth $76,640,000 after buying an additional 2,088,079 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Valvoline by 49.8% in the 1st quarter. Victory Capital Management Inc. now owns 3,001,200 shares of the basic materials company’s stock worth $66,417,000 after buying an additional 998,150 shares in the last quarter. Institutional investors own 99.64% of the company’s stock.
In related news, insider Anthony R. Puckett sold 6,132 shares of Valvoline stock in a transaction dated Tuesday, July 10th. The shares were sold at an average price of $21.72, for a total transaction of $133,187.04. Following the completion of the transaction, the insider now directly owns 5,445 shares of the company’s stock, valued at approximately $118,265.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.07% of the stock is currently owned by insiders.
Valvoline (NYSE:VVV) last issued its quarterly earnings data on Wednesday, August 1st. The basic materials company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Valvoline had a negative return on equity of 124.61% and a net margin of 10.10%. The business had revenue of $577.00 million during the quarter, compared to analysts’ expectations of $591.49 million. During the same period in the previous year, the business earned $0.34 earnings per share. The business’s quarterly revenue was up 8.1% on a year-over-year basis. research analysts expect that Valvoline Inc will post 1.29 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 17th. Investors of record on Friday, August 31st will be paid a dividend of $0.0745 per share. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.36%. Valvoline’s dividend payout ratio is presently 21.58%.
A number of equities analysts have commented on VVV shares. Monness Crespi & Hardt dropped their price objective on shares of Valvoline from $28.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, August 3rd. Morgan Stanley dropped their price objective on shares of Valvoline from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Thursday, August 2nd. Zacks Investment Research raised shares of Valvoline from a “sell” rating to a “hold” rating in a research note on Thursday. Seaport Global Securities reissued a “hold” rating and issued a $25.00 price objective on shares of Valvoline in a research note on Tuesday, August 7th. Finally, ValuEngine raised shares of Valvoline from a “sell” rating to a “hold” rating in a research note on Tuesday, July 10th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $25.43.
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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