Alliancebernstein L.P. reduced its position in shares of Valvoline Inc. (NYSE:VVV) by 50.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,031 shares of the basic materials company’s stock after selling 11,366 shares during the period. Alliancebernstein L.P.’s holdings in Valvoline were worth $271,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in shares of Valvoline during the first quarter worth approximately $475,000. Stifel Financial Corp purchased a new position in shares of Valvoline during the first quarter worth approximately $1,992,000. JPMorgan Chase & Co. raised its position in shares of Valvoline by 65.9% in the first quarter. JPMorgan Chase & Co. now owns 2,576,593 shares of the basic materials company’s stock worth $63,255,000 after buying an additional 1,023,423 shares during the last quarter. M&T Bank Corp purchased a new position in shares of Valvoline during the first quarter worth approximately $203,000. Finally, Pacer Advisors Inc. raised its position 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 worth $137,000 after buying an additional 4,808 shares during the last quarter. Hedge funds and other institutional investors own 41.01% of the company’s stock.
Valvoline Inc. (VVV) traded up 0.18% on Wednesday, hitting $22.06. The stock had a trading volume of 94,616 shares. The company has a market capitalization of $4.47 billion and a PE ratio of 19.32. Valvoline Inc. has a 12-month low of $18.30 and a 12-month high of $24.98. The company has a 50 day moving average of $22.84 and a 200 day moving average of $23.09.
Valvoline (NYSE:VVV) last issued its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $0.34 earnings per share 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 business had revenue of $534 million during the quarter, compared to the consensus estimate of $530.57 million. Valvoline’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities analysts expect that Valvoline Inc. will post $1.37 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a dividend of $0.049 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.20 dividend on an annualized basis and a yield of 0.89%. Valvoline’s dividend payout ratio (DPR) is currently 15.50%.
A number of research analysts have commented on the company. J P Morgan Chase & Co reiterated a “neutral” rating and issued a $22.00 price objective (up from $20.00) on shares of Valvoline in a research report on Wednesday, August 9th. Zacks Investment Research lowered Valvoline from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Seaport Global Securities upgraded Valvoline from a “neutral” rating to a “buy” rating and set a $26.00 price objective on the stock in a research report on Wednesday, June 7th. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $23.00 price objective (up from $22.00) on shares of Valvoline in a research report on Saturday, June 3rd. One equities research 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’s stock. The company has an average rating of “Hold” and an average target price 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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