Assenagon Asset Management S.A. Sells 216,445 Shares of Valvoline $VVV

Key Points

• Assenagon Asset Management S.A. reduced its holdings in Valvoline by 82.5%, selling 216,445 shares, and now owns 45,822 shares valued at approximately $1.74 million.
• Valvoline reported a Q2 earnings per share of $0.47, exceeding analyst expectations, along with a 4.2% increase in revenue year-over-year.
• Current analyst ratings for Valvoline include a Moderate Buy consensus, with nine analysts giving it a Buy rating and an average price target of $42.77.

Assenagon Asset Management S.A. cut its holdings in Valvoline (NYSE:VVV - Free Report) by 82.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,822 shares of the basic materials company's stock after selling 216,445 shares during the period. Assenagon Asset Management S.A.'s holdings in Valvoline were worth $1,735,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in VVV. IFP Advisors Inc boosted its stake in shares of Valvoline by 24.9% in the 1st quarter. IFP Advisors Inc now owns 2,832 shares of the basic materials company's stock worth $100,000 after buying an additional 565 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Valvoline by 101.5% in the 1st quarter. GAMMA Investing LLC now owns 2,170 shares of the basic materials company's stock worth $76,000 after buying an additional 1,093 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Valvoline in the 1st quarter worth approximately $316,000. GSA Capital Partners LLP purchased a new position in shares of Valvoline in the 1st quarter worth approximately $865,000. Finally, Yousif Capital Management LLC boosted its stake in shares of Valvoline by 1.7% in the 1st quarter. Yousif Capital Management LLC now owns 46,208 shares of the basic materials company's stock worth $1,608,000 after buying an additional 794 shares during the last quarter. 96.13% of the stock is owned by institutional investors.

Valvoline Stock Performance

Valvoline stock opened at $36.69 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.60 and a debt-to-equity ratio of 3.37. The firm has a 50-day moving average of $38.26 and a 200-day moving average of $36.42. The firm has a market cap of $4.66 billion, a P/E ratio of 17.06 and a beta of 1.21. Valvoline has a 1-year low of $31.01 and a 1-year 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, topping analysts' consensus estimates of $0.46 by $0.01. The company 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%. Valvoline's revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.45 earnings per share. Sell-side analysts expect that Valvoline will post 1.63 EPS for the current year.

Analyst Ratings Changes

VVV has been the topic of a number of research analyst reports. Piper Sandler boosted their target price on Valvoline from $44.00 to $50.00 and gave the stock an "overweight" rating in a research note on Monday, September 8th. Wells Fargo & Company boosted their target price on shares of Valvoline from $42.00 to $44.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Zacks Research raised shares of Valvoline to a "hold" rating in a report on Tuesday, August 12th. Cfra Research raised shares of Valvoline to a "hold" rating in a report on Monday, July 7th. Finally, The Goldman Sachs Group raised shares of Valvoline from a "hold" rating to a "buy" rating and upped their price target for the stock from $40.00 to $45.00 in a report on Tuesday, June 3rd. Nine investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, Valvoline has an average rating of "Moderate Buy" and an average price target of $42.77.

Insider Buying and Selling at Valvoline

In other news, CFO J Kevin Willis bought 12,725 shares of the company's stock in a transaction dated Thursday, August 14th. The stock was bought at an average cost of $39.41 per share, for a total transaction of $501,492.25. Following the completion of the acquisition, the chief financial officer owned 12,725 shares in the company, valued at approximately $501,492.25. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.66% of the company's stock.

Valvoline Company 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.

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