Bank of America Corp DE lessened its position in Valvoline Inc. (NYSE:VVV - Free Report) by 39.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 593,261 shares of the basic materials company's stock after selling 380,007 shares during the quarter. Bank of America Corp DE owned approximately 0.46% of Valvoline worth $21,464,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. BNP Paribas Financial Markets raised its holdings in shares of Valvoline by 61.8% in the 4th quarter. BNP Paribas Financial Markets now owns 120,214 shares of the basic materials company's stock valued at $4,349,000 after buying an additional 45,928 shares during the period. Alua Capital Management LP raised its holdings 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 buying an additional 175,848 shares during the period. ArrowMark Colorado Holdings LLC purchased a new stake in shares of Valvoline in the 4th quarter valued at $3,506,000. Jane Street Group LLC raised its holdings in shares of Valvoline by 8.8% in the 4th quarter. Jane Street Group LLC now owns 107,206 shares of the basic materials company's stock valued at $3,879,000 after buying an additional 8,677 shares during the period. Finally, Freestone Grove Partners LP purchased a new stake in Valvoline during the 4th quarter worth about $946,000. Hedge funds and other institutional investors own 96.13% of the company's stock.
Insiders Place Their Bets
In other news, insider Julie Marie O'daniel sold 6,000 shares of the firm's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $37.41, for a total transaction of $224,460.00. Following the sale, the insider now owns 15,305 shares in the company, valued at $572,560.05. This trade represents a 28.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.66% of the stock is currently owned by company insiders.
Valvoline Price Performance
NYSE VVV traded down $0.17 during mid-day trading on Friday, hitting $34.03. The stock had a trading volume of 1,277,945 shares, compared to its average volume of 1,425,376. The company has a quick ratio of 0.58, a current ratio of 0.70 and a debt-to-equity ratio of 4.39. The company has a 50 day simple moving average of $34.29 and a 200 day simple moving average of $36.46. The company has a market cap of $4.33 billion, a price-to-earnings ratio of 16.28 and a beta of 1.20. Valvoline Inc. has a 52-week low of $31.02 and a 52-week high of $48.27.
Valvoline (NYSE:VVV - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The basic materials company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). The company had revenue of $403.20 million for the quarter, compared to analysts' expectations of $405.38 million. Valvoline had a return on equity of 143.64% and a net margin of 16.34%. The business's quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.37 EPS. Equities analysts forecast that Valvoline Inc. will post 1.63 EPS for the current fiscal year.
Analysts Set New Price Targets
Several equities research analysts have weighed in on the company. TD Securities assumed coverage on Valvoline in a report on Friday, April 4th. They set a "buy" rating and a $40.00 price target on the stock. Morgan Stanley cut their price target on Valvoline from $41.00 to $39.00 and set an "equal weight" rating on the stock in a report on Friday, May 9th. TD Cowen started coverage on Valvoline in a report on Friday, April 4th. They set a "buy" rating and a $40.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on Valvoline from $37.00 to $38.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Finally, Piper Sandler reissued an "overweight" rating and issued a $44.00 target price (down from $45.00) on shares of Valvoline in a research report on Friday, May 9th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Valvoline has an average rating of "Moderate Buy" and a consensus target price of $42.33.
Check Out Our Latest Stock Analysis on Valvoline
About Valvoline
(
Free Report)
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.
See Also
Before you consider Valvoline, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Valvoline wasn't on the list.
While Valvoline currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
