33,760 Shares of Valvoline $VVV Purchased by Markel Group Inc.

Key Points

• Markel Group acquired 33,760 Valvoline shares in the third quarter, a stake valued at approximately $1.02 million.
• Valvoline beat quarterly earnings expectations, posting EPS of $0.57 versus the $0.50 consensus, while revenue rose 24.1% year over year. The company also authorized a $175 million share repurchase plan.
• Institutional investors own 96.13% of Valvoline’s stock. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $41.17.

Markel Group Inc. acquired a new stake in shares of Valvoline (NYSE:VVV - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 33,760 shares of the basic materials company's stock, valued at approximately $1,018,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Valvoline during the second quarter valued at approximately $501,851,000. Junto Capital Management LP bought a new position in shares of Valvoline in the second quarter worth about $81,689,000. Canada Pension Plan Investment Board acquired a new position in shares of Valvoline during the 2nd quarter worth about $52,960,000. Bank of America Corp DE acquired a new position in shares of Valvoline during the 2nd quarter worth about $46,514,000. Finally, TimesSquare Capital Management LLC acquired a new stake in Valvoline in the 2nd quarter valued at approximately $43,541,000. 96.13% of the stock is currently owned by institutional investors and hedge funds.

Valvoline Stock Performance

Shares of NYSE:VVV opened at $33.83 on Wednesday. The company has a debt-to-equity ratio of 3.77, a current ratio of 0.70 and a quick ratio of 0.58. The business's fifty day moving average price is $30.68 and its two-hundred day moving average price is $34.36. Valvoline has a fifty-two week low of $26.21 and a fifty-two week high of $41.08. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 19.09 and a beta of 1.01.

Valvoline (NYSE:VVV - Get Free Report) last posted its earnings results on Wednesday, August 5th. The basic materials company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.07. Valvoline had a net margin of 5.17% and a return on equity of 65.12%. The business had revenue of $544.60 million for the quarter, compared to analyst estimates of $543.21 million. During the same quarter in the prior year, the firm earned $0.47 EPS. The firm's quarterly revenue was up 24.1% compared to the same quarter last year. As a group, analysts predict that Valvoline will post 1.76 EPS for the current fiscal year.

Valvoline declared that its board has initiated a share buyback plan on Tuesday, September 29th that allows the company to repurchase $175 million in shares. This repurchase authorization allows the basic materials company to repurchase up to 4.8% of its shares through open market purchases. Share repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Insider Activity

In related news, insider Julie O'Daniel sold 3,700 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $33.81, for a total transaction of $125,097.00. Following the sale, the insider directly owned 14,279 shares in the company, valued at $482,772.99. This represents a 20.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jordan M. Denny acquired 1,506 shares of the business's stock in a transaction on Wednesday, August 12th. The stock was acquired at an average price of $33.20 per share, with a total value of $49,999.20. Following the transaction, the chief accounting officer owned 4,121 shares in the company, valued at approximately $136,817.20. The trade was a 57.59% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.66% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on VVV shares. Zacks Research lowered shares of Valvoline from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 19th. Piper Sandler restated an "overweight" rating and issued a $44.00 price target on shares of Valvoline in a research report on Wednesday, July 29th. Wells Fargo & Company reduced their target price on shares of Valvoline from $45.00 to $40.00 and set an "overweight" rating for the company in a research note on Friday, October 23rd. Benchmark assumed coverage on Valvoline in a research note on Wednesday, August 19th. They set a "buy" rating and a $48.00 price target on the stock. Finally, Stephens boosted their price target on shares of Valvoline from $44.00 to $48.00 and gave the company an "overweight" rating in a report on Tuesday, July 28th. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $41.17.

About Valvoline

Valvoline Inc NYSE: VVV is an automotive maintenance services company that operates and franchises Valvoline Instant Oil Change service centers. Its locations provide preventive vehicle maintenance designed to help drivers keep their cars operating reliably and extend the useful life of key components.

The company's services include oil changes, fluid replacement and top-offs, battery testing and replacement, air-conditioning services, tire rotation, tire services, and replacement of filters, wiper blades, and other routine maintenance items.

Want to see what other hedge funds are holding VVV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Valvoline (NYSE:VVV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.