Stifel Financial Corp grew its stake in shares of Valvoline Inc. (NYSE:VVV) by 43.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 116,044 shares of the basic materials company’s stock after buying an additional 34,883 shares during the period. Stifel Financial Corp owned approximately 0.06% of Valvoline worth $2,752,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Valvoline by 1,119.3% during the 2nd quarter. BlackRock Inc. now owns 16,915,393 shares of the basic materials company’s stock valued at $401,234,000 after purchasing an additional 15,528,107 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Valvoline by 362.7% during the 2nd quarter. Vanguard Group Inc. now owns 17,555,939 shares of the basic materials company’s stock valued at $416,427,000 after purchasing an additional 13,761,975 shares in the last quarter. Boston Partners lifted its holdings in shares of Valvoline by 344.0% during the 2nd quarter. Boston Partners now owns 9,213,982 shares of the basic materials company’s stock valued at $218,556,000 after purchasing an additional 7,138,800 shares in the last quarter. Evercore Trust Company N.A. bought a new position in shares of Valvoline during the 2nd quarter valued at about $136,610,000. Finally, TIAA CREF Investment Management LLC lifted its holdings in shares of Valvoline by 4,232.6% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 3,969,755 shares of the basic materials company’s stock valued at $94,163,000 after purchasing an additional 3,878,130 shares in the last quarter. Hedge funds and other institutional investors own 92.34% of the company’s stock.
Several equities analysts have recently weighed in on VVV shares. Zacks Investment Research cut Valvoline from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. 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 report on Wednesday, August 9th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $25.40.
Valvoline (NYSE:VVV) last posted its earnings results on Tuesday, August 1st. The basic materials company reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 the consensus estimate of $530.57 million. The business’s revenue was up 7.0% compared to the same quarter last year. Analysts forecast that Valvoline Inc. will post $1.37 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a $0.049 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.82%. Valvoline’s dividend payout ratio is presently 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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