Millennium Management LLC Invests $17.40 Million in Valvoline Inc (NYSE:VVV)

Millennium Management LLC acquired a new stake in Valvoline Inc (NYSE:VVV) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 789,647 shares of the basic materials company’s stock, valued at approximately $17,395,000. Millennium Management LLC owned about 0.42% of Valvoline as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Old North State Trust LLC acquired a new position in Valvoline in the third quarter valued at approximately $30,000. Doyle Wealth Management acquired a new stake in Valvoline during the second quarter worth approximately $34,000. Parkside Financial Bank & Trust lifted its position in shares of Valvoline by 50.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 3,127 shares of the basic materials company’s stock worth $61,000 after buying an additional 1,045 shares during the last quarter. Quantamental Technologies LLC purchased a new stake in shares of Valvoline during the 2nd quarter worth approximately $113,000. Finally, NEXT Financial Group Inc acquired a new stake in Valvoline during the 3rd quarter worth $151,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Shares of VVV opened at $22.34 on Wednesday. The company’s 50 day simple moving average is $22.37 and its 200-day simple moving average is $21.03. Valvoline Inc has a 12-month low of $16.90 and a 12-month high of $23.90. The firm has a market cap of $4.27 billion, a PE ratio of 16.07, a price-to-earnings-growth ratio of 1.58 and a beta of 0.91.

Valvoline (NYSE:VVV) last issued its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.07. Valvoline had a net margin of 8.70% and a negative return on equity of 91.40%. The firm had revenue of $629.00 million during the quarter, compared to analysts’ expectations of $627.04 million. During the same quarter in the prior year, the business earned $0.34 EPS. Valvoline’s quarterly revenue was up 5.9% compared to the same quarter last year. As a group, analysts expect that Valvoline Inc will post 1.43 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $0.113 dividend. This represents a $0.45 dividend on an annualized basis and a dividend yield of 2.02%. This is a boost from Valvoline’s previous quarterly dividend of $0.11. The ex-dividend date is Wednesday, November 27th. Valvoline’s dividend payout ratio is presently 32.37%.

In other news, SVP Craig A. Moughler sold 1,641 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $22.91, for a total transaction of $37,595.31. Following the completion of the sale, the senior vice president now owns 25,957 shares in the company, valued at $594,674.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 2,854 shares of company stock valued at $65,730 over the last ninety days. Corporate insiders own 0.49% of the company’s stock.

A number of research firms have recently commented on VVV. Zacks Investment Research upgraded Valvoline from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. ValuEngine raised Valvoline from a “sell” rating to a “hold” rating in a report on Tuesday, November 19th. Finally, TheStreet raised Valvoline from a “d+” rating to a “c+” rating in a research report on Monday, September 23rd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $23.20.

About Valvoline

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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Institutional Ownership by Quarter for Valvoline (NYSE:VVV)

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