Adage Capital Partners GP L.L.C. Raises Stock Position in Valvoline $VVV

Key Points

• Adage Capital Partners GP L.L.C. increased its holdings in Valvoline by 63.2% by acquiring 363,170 shares, bringing their total to 938,170 shares valued at approximately $32.66 million.
• Valvoline reported earnings per share of $0.47 for the last quarter, slightly beating analysts' expectations, with a revenue increase of 4.2% year-over-year.
• Multiple institutions, including Fiduciary Management and Boston Partners, have either increased their stakes or acquired new shares in Valvoline, indicating strong institutional interest in the company, which now has 96.13% of its stock owned by institutional investors.

Adage Capital Partners GP L.L.C. raised its position in shares of Valvoline (NYSE:VVV - Free Report) by 63.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 938,170 shares of the basic materials company's stock after buying an additional 363,170 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.74% of Valvoline worth $32,658,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of VVV. Opal Wealth Advisors LLC purchased a new position in shares of Valvoline in the 1st quarter valued at approximately $35,000. American National Bank & Trust acquired a new position in Valvoline in the 1st quarter worth approximately $40,000. Versant Capital Management Inc increased its holdings in Valvoline by 221.8% in the 1st quarter. Versant Capital Management Inc now owns 1,181 shares of the basic materials company's stock worth $41,000 after buying an additional 814 shares during the period. CWM LLC increased its holdings in Valvoline by 50.8% in the 1st quarter. CWM LLC now owns 1,440 shares of the basic materials company's stock worth $50,000 after buying an additional 485 shares during the period. Finally, UMB Bank n.a. increased its holdings in Valvoline by 145.4% in the 1st quarter. UMB Bank n.a. now owns 1,531 shares of the basic materials company's stock worth $53,000 after buying an additional 907 shares during the period. 96.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

VVV has been the topic of several research reports. Zacks Research upgraded shares of Valvoline to a "hold" rating in a report on Tuesday, August 12th. The Goldman Sachs Group upgraded shares of Valvoline from a "hold" rating to a "buy" rating and increased their price target for the stock from $40.00 to $45.00 in a report on Tuesday, June 3rd. Wells Fargo & Company increased their price target on shares of Valvoline from $42.00 to $44.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Piper Sandler increased their price target on shares of Valvoline from $44.00 to $50.00 and gave the stock an "overweight" rating in a report on Monday. Finally, Stephens increased their price target on shares of Valvoline from $40.00 to $44.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Nine investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.77.

Valvoline Stock Performance

Shares of NYSE:VVV traded down $0.15 during trading on Wednesday, hitting $39.61. 312,301 shares of the stock traded hands, compared to its average volume of 1,715,171. 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 $5.03 billion, a price-to-earnings ratio of 18.46 and a beta of 1.21. The company has a fifty day moving average price of $38.08 and a two-hundred day moving average price of $36.15. Valvoline has a 52-week low of $31.01 and a 52-week high of $43.74.

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, beating the consensus estimate of $0.46 by $0.01. The firm had revenue of $439.00 million during the quarter, compared to analyst estimates of $436.35 million. Valvoline had a net margin of 16.43% and a return on equity of 84.85%. The business's quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.45 EPS. As a group, equities analysts predict that Valvoline will post 1.63 EPS for the current year.

Insider Buying and Selling

In related news, CFO J Kevin Willis purchased 12,725 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The stock was bought at an average price of $39.41 per share, with a total value of $501,492.25. Following the acquisition, the chief financial officer owned 12,725 shares in the company, valued at $501,492.25. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.66% of the company's stock.

Valvoline Profile

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.