Oakbrook Investments LLC purchased a new position in Valvoline Inc. (NYSE:VVV) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 8,612 shares of the basic materials company’s stock, valued at approximately $204,000.
A number of other institutional investors also recently bought and sold shares of VVV. Boston Partners bought a new position in Valvoline during the first quarter worth $50,946,000. Vanguard Group Inc. increased its position in Valvoline by 105.1% in the first quarter. Vanguard Group Inc. now owns 3,793,964 shares of the basic materials company’s stock worth $93,142,000 after buying an additional 1,944,594 shares in the last quarter. JPMorgan Chase & Co. increased 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 in the last quarter. Norges Bank acquired a new position in shares of Valvoline during the fourth quarter worth approximately $17,200,000. Finally, Bank of America Corp DE increased its position in shares of Valvoline by 302.4% in the first quarter. Bank of America Corp DE now owns 597,920 shares of the basic materials company’s stock worth $14,679,000 after buying an additional 449,346 shares in the last quarter. 41.01% of the stock is currently owned by institutional investors.
Valvoline Inc. (VVV) opened at 21.55 on Friday. The firm has a market capitalization of $4.37 billion and a price-to-earnings ratio of 18.87. Valvoline Inc. has a 12-month low of $18.30 and a 12-month high of $24.98. The stock has a 50 day moving average of $22.68 and a 200 day moving average of $23.06.
Valvoline (NYSE:VVV) last announced its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by $0.01. The business had revenue of $534 million during the quarter, compared to the consensus estimate of $530.57 million. Valvoline had a net margin of 13.00% and a negative return on equity of 106.06%. Valvoline’s revenue was up 7.0% on a year-over-year basis. Equities research analysts anticipate that Valvoline Inc. will post $1.37 earnings per share 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 issued a $0.049 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Wednesday, August 30th. Valvoline’s payout ratio is 15.50%.
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A number of equities research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Valvoline from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Deutsche Bank AG reaffirmed a “hold” rating and set a $23.00 price target (up from $22.00) on shares of Valvoline in a report on Saturday, June 3rd. Finally, J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $22.00 price target (up 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 assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock 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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