Assetmark Inc. Increases Position 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. grew its stake in Valvoline (NYSE:VVV - Free Report) by 55.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,010 shares of the basic materials company's stock after purchasing an additional 13,986 shares during the period. Assetmark Inc.'s holdings in Valvoline were worth $1,358,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Wasatch Advisors LP lifted its stake in shares of Valvoline by 11.1% in the 4th quarter. Wasatch Advisors LP now owns 10,818,256 shares of the basic materials company's stock valued at $391,405,000 after purchasing an additional 1,080,114 shares during the last quarter. Fiduciary Management Inc. WI lifted its stake in shares of Valvoline by 35.1% in the 4th quarter. Fiduciary Management Inc. WI now owns 4,221,275 shares of the basic materials company's stock valued at $152,726,000 after purchasing an additional 1,096,486 shares during the last quarter. Alua Capital Management LP lifted its stake in shares of Valvoline by 5.1% in the 4th quarter. Alua Capital Management LP now owns 3,605,281 shares of the basic materials company's stock valued at $130,439,000 after purchasing an additional 175,848 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Valvoline by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,608,067 shares of the basic materials company's stock worth $94,362,000 after acquiring an additional 6,871 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in shares of Valvoline by 29.7% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,045,198 shares of the basic materials company's stock worth $71,193,000 after acquiring an additional 467,885 shares during the last quarter. 96.13% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Lori Ann Flees purchased 3,000 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were acquired at an average cost of $33.78 per share, for a total transaction of $101,340.00. Following the acquisition, the chief executive officer owned 46,614 shares of the company's stock, valued at $1,574,620.92. The trade was a 6.88% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.66% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on VVV shares. The Goldman Sachs Group raised 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 note on Tuesday, June 3rd. Citigroup decreased their price target on Valvoline from $41.00 to $38.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Cfra Research raised Valvoline to a "hold" rating in a research note on Monday, July 7th. Wells Fargo & Company decreased their price target on Valvoline from $44.00 to $42.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Finally, TD Cowen started coverage on Valvoline in a research note on Friday, April 4th. They set a "buy" rating and a $40.00 price target for the company. Five investment 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, Valvoline has an average rating of "Moderate Buy" and an average target price of $42.15.

Valvoline Trading Down 0.7%

VVV traded down $0.23 during trading on Friday, hitting $35.02. 1,727,334 shares of the stock were exchanged, compared to its average volume of 1,728,139. The firm has a 50 day simple moving average of $36.69 and a 200 day simple moving average of $35.97. The firm has a market cap of $4.45 billion, a price-to-earnings ratio of 17.00 and a beta of 1.17. Valvoline has a 1 year low of $31.01 and a 1 year high of $45.28. The company has a debt-to-equity ratio of 4.23, a quick ratio of 0.60 and a current ratio of 0.73.

Valvoline (NYSE:VVV - Get Free Report) last released its quarterly earnings data 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). The firm had revenue of $403.20 million for the quarter, compared to analysts' expectations of $405.38 million. Valvoline had a return on equity of 106.36% and a net margin of 15.97%. The company's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.37 earnings per share. As a group, equities analysts expect that Valvoline will post 1.63 EPS for the current year.

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.