Assetmark Inc. Has $1.36 Million Stake in Valvoline (NYSE:VVV)

Key Points

• Assetmark Inc. increased its stake in Valvoline by 55.9% in the first quarter, acquiring an additional 13,986 shares to hold a total of 39,010 shares valued at approximately $1,358,000.
• In response to recent performance, several brokerages have adjusted their ratings and price targets for Valvoline, with Goldman Sachs upgrading it to a "buy" rating and raising the price objective from $40.00 to $45.00.
• Valvoline reported earnings per share of $0.34 for the most recent quarter, missing the consensus estimate of $0.36, with revenues also falling short of expectations at $403.20 million.

Assetmark Inc. lifted its holdings in Valvoline (NYSE:VVV - Free Report) by 55.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,010 shares of the basic materials company's stock after buying an additional 13,986 shares during the period. Assetmark Inc.'s holdings in Valvoline were worth $1,358,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Commonwealth Equity Services LLC boosted its position in Valvoline by 13.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 9,411 shares of the basic materials company's stock valued at $341,000 after purchasing an additional 1,142 shares during the last quarter. LPL Financial LLC lifted its position in shares of Valvoline by 26.5% in the fourth quarter. LPL Financial LLC now owns 33,872 shares of the basic materials company's stock worth $1,225,000 after buying an additional 7,097 shares during the last quarter. Norges Bank acquired a new position in shares of Valvoline during the 4th quarter valued at about $54,114,000. Pictet Asset Management Holding SA increased its holdings in shares of Valvoline by 26.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 21,434 shares of the basic materials company's stock valued at $775,000 after acquiring an additional 4,438 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Valvoline by 7.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 88,444 shares of the basic materials company's stock worth $3,200,000 after purchasing an additional 6,097 shares during the last quarter. Hedge funds and other institutional investors own 96.13% of the company's stock.

Insider Transactions at Valvoline

In other news, CEO Lori Ann Flees bought 3,000 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were bought at an average cost of $33.78 per share, for a total transaction of $101,340.00. Following the completion of the acquisition, the chief executive officer owned 46,614 shares in the company, valued at approximately $1,574,620.92. This trade represents a 6.88% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.66% of the company's stock.

Valvoline Trading Up 1.3%

Shares of VVV stock traded up $0.44 during trading hours on Monday, reaching $35.46. The company had a trading volume of 380,002 shares, compared to its average volume of 1,729,561. Valvoline has a 1-year low of $31.01 and a 1-year high of $43.89. The company has a debt-to-equity ratio of 4.23, a current ratio of 0.73 and a quick ratio of 0.60. The firm has a market cap of $4.51 billion, a price-to-earnings ratio of 17.20 and a beta of 1.17. The company has a 50 day moving average of $36.71 and a 200 day moving average of $35.96.

Valvoline (NYSE:VVV - Get Free Report) last issued its earnings results on Thursday, May 8th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.02). The company had revenue of $403.20 million for the quarter, compared to the consensus estimate of $405.38 million. Valvoline had a return on equity of 106.36% and a net margin of 15.97%. Valvoline's quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the business posted $0.37 EPS. On average, equities research analysts anticipate that Valvoline will post 1.63 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of Valvoline from $44.00 to $42.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Piper Sandler reaffirmed an "overweight" rating and issued a $44.00 price target (down from $45.00) on shares of Valvoline in a research report on Friday, May 9th. The Goldman Sachs Group upgraded Valvoline from a "hold" rating to a "buy" rating and increased their target price for the company from $40.00 to $45.00 in a research note on Tuesday, June 3rd. Citigroup cut their price target on Valvoline from $41.00 to $38.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Finally, Morgan Stanley dropped their target price on shares of Valvoline from $41.00 to $39.00 and set an "equal weight" rating on the stock in a research report on Friday, May 9th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.15.

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.