Wesbanco Bank Inc. Acquires Shares of 40,651 Valvoline $VVV

Key Points

• Wesbanco Bank Inc. has acquired a new position in Valvoline, purchasing 40,651 shares valued at approximately $1.54 million in the second quarter.
• Valvoline reported a quarterly earnings per share of $0.47, surpassing expectations, with revenue of $439 million, showing a 4.2% year-over-year increase.
• Despite recent upgrades from analysts, including Piper Sandler raising their price target from $44 to $50, Valvoline shares opened at $40.47, reflecting a slight decline of 0.2%.

Wesbanco Bank Inc. purchased a new stake in Valvoline (NYSE:VVV - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 40,651 shares of the basic materials company's stock, valued at approximately $1,539,000.

A number of other hedge funds have also made changes to their positions in the stock. Boston Partners acquired a new position in Valvoline during the 1st quarter worth $82,748,000. Millennium Management LLC boosted its holdings in Valvoline by 315.4% in the 1st quarter. Millennium Management LLC now owns 1,510,338 shares of the basic materials company's stock valued at $52,575,000 after purchasing an additional 1,146,728 shares during the period. Squarepoint Ops LLC grew its holdings in Valvoline by 653.5% during the 4th quarter. Squarepoint Ops LLC now owns 1,147,254 shares of the basic materials company's stock worth $41,508,000 after acquiring an additional 994,988 shares during the last quarter. Channing Capital Management LLC bought a new position in Valvoline during the first quarter worth $25,985,000. Finally, Mawer Investment Management Ltd. raised its holdings in shares of Valvoline by 144.6% in the first quarter. Mawer Investment Management Ltd. now owns 1,224,420 shares of the basic materials company's stock valued at $42,622,000 after purchasing an additional 723,938 shares during the last quarter. Institutional investors and hedge funds own 96.13% of the company's stock.

Insider Buying and Selling at Valvoline

In other news, CFO J Kevin Willis bought 12,725 shares of Valvoline stock in a transaction dated Thursday, August 14th. The shares were acquired at an average price of $39.41 per share, with a total value of $501,492.25. Following the completion of the purchase, the chief financial officer owned 12,725 shares in the company, valued at $501,492.25. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.66% of the stock is currently owned by insiders.

Valvoline Trading Down 2.0%

Shares of VVV traded down $0.80 during trading hours on Friday, reaching $39.10. The stock had a trading volume of 561,313 shares, compared to its average volume of 1,713,699. The firm has a 50-day moving average of $38.22 and a 200 day moving average of $36.33. Valvoline has a 52 week low of $31.01 and a 52 week high of $43.74. The company has a quick ratio of 0.60, a current ratio of 0.73 and a debt-to-equity ratio of 3.37. The company has a market cap of $4.97 billion, a P/E ratio of 18.20 and a beta of 1.21.

Valvoline (NYSE:VVV - Get Free Report) last posted its earnings results on Wednesday, August 6th. The basic materials company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.46 by $0.01. Valvoline had a net margin of 16.43% and a return on equity of 84.85%. The firm had revenue of $439.00 million for the quarter, compared to analysts' expectations of $436.35 million. During the same quarter in the previous year, the firm posted $0.45 earnings per share. The company's revenue was up 4.2% on a year-over-year basis. On average, sell-side analysts expect that Valvoline will post 1.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

VVV has been the topic of several analyst reports. Zacks Research raised shares of Valvoline to a "hold" rating in a research note on Tuesday, August 12th. The Goldman Sachs Group upgraded Valvoline from a "hold" rating to a "buy" rating and raised their price target for the stock from $40.00 to $45.00 in a research report on Tuesday, June 3rd. Wells Fargo & Company raised their price target on Valvoline from $42.00 to $44.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Wall Street Zen upgraded Valvoline from a "sell" rating to a "hold" rating in a research report on Monday. Finally, Cfra Research raised Valvoline to a "hold" rating in a research report on Monday, July 7th. Nine equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Valvoline presently has an average rating of "Moderate Buy" and a consensus price target of $42.77.

About Valvoline

Valvoline Inc engages in the operation and franchising of vehicle service centers and retail stores in the United States and Canada. The company, through its service centers, provides fluid exchange for motor oil, transmission and differential fluid, and coolant; parts replacement for batteries, filters, wiper blades, and belts; and safety services, such as tire inflation and rotation, bulbs, and safety checks.