Assenagon Asset Management S.A. Has $9.13 Million Stake in Valvoline Inc. (NYSE:VVV)

Assenagon Asset Management S.A. lessened its stake in Valvoline Inc. (NYSE:VVV - Free Report) by 45.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 262,267 shares of the basic materials company's stock after selling 216,993 shares during the quarter. Assenagon Asset Management S.A. owned about 0.21% of Valvoline worth $9,130,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in VVV. Norges Bank bought a new stake in Valvoline in the fourth quarter valued at about $54,114,000. Fiduciary Management Inc. WI increased its holdings in shares of Valvoline by 35.1% in the fourth quarter. Fiduciary Management Inc. WI now owns 4,221,275 shares of the basic materials company's stock worth $152,726,000 after acquiring an additional 1,096,486 shares in the last quarter. Wasatch Advisors LP increased its holdings in shares of Valvoline by 11.1% in the fourth quarter. Wasatch Advisors LP now owns 10,818,256 shares of the basic materials company's stock worth $391,405,000 after acquiring an additional 1,080,114 shares in the last quarter. Squarepoint Ops LLC increased its holdings in shares of Valvoline by 653.5% in the fourth 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 in the last quarter. Finally, Champlain Investment Partners LLC bought a new stake in shares of Valvoline in the fourth quarter worth about $35,051,000. Institutional investors own 96.13% of the company's stock.

Insider Activity at Valvoline

In related news, CEO Lori Ann Flees purchased 3,000 shares of Valvoline stock in a transaction that occurred on Tuesday, May 27th. The stock was purchased at an average cost of $33.78 per share, with a total value of $101,340.00. Following the completion of the transaction, the chief executive officer now owns 46,614 shares of the company's stock, valued at approximately $1,574,620.92. This trade represents a 6.88% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.66% of the company's stock.

Valvoline Stock Down 3.1%

Shares of VVV stock traded down $1.12 on Friday, hitting $35.33. 2,713,590 shares of the stock were exchanged, compared to its average volume of 1,469,517. The company has a current ratio of 0.70, a quick ratio of 0.58 and a debt-to-equity ratio of 4.39. The firm has a market capitalization of $4.49 billion, a P/E ratio of 16.90 and a beta of 1.17. The business has a 50-day moving average of $34.49 and a 200 day moving average of $35.97. Valvoline Inc. has a fifty-two week low of $31.02 and a fifty-two week high of $48.27.

Valvoline (NYSE:VVV - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The basic materials company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). Valvoline had a net margin of 16.34% and a return on equity of 143.64%. The company had revenue of $403.20 million for the quarter, compared to analyst estimates of $405.38 million. During the same period last year, the company posted $0.37 earnings per share. The business's revenue for the quarter was up 3.7% on a year-over-year basis. Equities analysts anticipate that Valvoline Inc. will post 1.63 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on VVV shares. TD Cowen started coverage on Valvoline in a report on Friday, April 4th. They issued a "buy" rating and a $40.00 price target for the company. Piper Sandler restated an "overweight" rating and issued a $44.00 price target (down from $45.00) on shares of Valvoline in a report on Friday, May 9th. The Goldman Sachs Group upgraded 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 lowered their price target on Valvoline from $44.00 to $42.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Finally, Morgan Stanley lowered their price target on Valvoline from $41.00 to $39.00 and set an "equal weight" rating for the company in a report on Friday, May 9th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Valvoline currently has an average rating of "Moderate Buy" and an average target price of $42.54.

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.