Congress Asset Management Co. Lowers Stake in Valvoline Inc. (NYSE:VVV)

Congress Asset Management Co. lessened its stake in Valvoline Inc. (NYSE:VVV - Free Report) by 99.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,798 shares of the basic materials company's stock after selling 3,409,075 shares during the period. Congress Asset Management Co.'s holdings in Valvoline were worth $306,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sendero Wealth Management LLC grew its position in Valvoline by 34.0% in the first quarter. Sendero Wealth Management LLC now owns 27,855 shares of the basic materials company's stock worth $970,000 after acquiring an additional 7,075 shares in the last quarter. Fulton Bank N.A. lifted its stake in Valvoline by 6.8% during the first quarter. Fulton Bank N.A. now owns 13,461 shares of the basic materials company's stock worth $469,000 after purchasing an additional 858 shares during the last quarter. American National Bank & Trust bought a new stake in Valvoline during the first quarter worth about $40,000. GAMMA Investing LLC boosted its holdings in shares of Valvoline by 6,913.7% in the 1st quarter. GAMMA Investing LLC now owns 75,538 shares of the basic materials company's stock worth $2,629,000 after purchasing an additional 74,461 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of Valvoline by 221.8% in the 1st quarter. Versant Capital Management Inc now owns 1,181 shares of the basic materials company's stock worth $41,000 after purchasing an additional 814 shares in the last quarter. Hedge funds and other institutional investors own 96.13% of the company's stock.

Valvoline Trading Down 0.4%

VVV traded down $0.16 during trading on Tuesday, hitting $36.60. 1,686,649 shares of the stock traded hands, compared to its average volume of 1,666,886. The firm has a market capitalization of $4.65 billion, a P/E ratio of 17.51 and a beta of 1.17. Valvoline Inc. has a 12-month low of $31.01 and a 12-month high of $48.26. The company has a debt-to-equity ratio of 4.39, a current ratio of 0.70 and a quick ratio of 0.58. The firm has a 50-day moving average of $34.27 and a 200 day moving average of $36.01.

Valvoline (NYSE:VVV - Get Free Report) last posted its earnings results on Thursday, May 8th. The basic materials company reported $0.34 earnings per share (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 business had revenue of $403.20 million for the quarter, compared to analysts' expectations of $405.38 million. During the same period last year, the firm posted $0.37 earnings per share. Valvoline's quarterly revenue was up 3.7% on a year-over-year basis. Equities research analysts anticipate that Valvoline Inc. will post 1.63 EPS for the current year.

Wall Street Analysts Forecast Growth

VVV has been the topic of a number of research reports. Wells Fargo & Company decreased their price objective on Valvoline from $44.00 to $42.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. TD Cowen assumed coverage on shares of Valvoline in a research note on Friday, April 4th. They set a "buy" rating and a $40.00 price target on the stock. The Goldman Sachs Group upgraded shares of Valvoline from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $40.00 to $45.00 in a report on Tuesday, June 3rd. Morgan Stanley cut their price objective on shares of Valvoline from $41.00 to $39.00 and set an "equal weight" rating for the company in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. increased their target price on shares of Valvoline from $37.00 to $38.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Four equities research 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. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $42.54.

Insiders Place Their Bets

In other news, CEO Lori Ann Flees bought 3,000 shares of the stock in a transaction dated Tuesday, May 27th. The stock was bought at an average price of $33.78 per share, for a total transaction of $101,340.00. Following the purchase, the chief executive officer now directly owns 46,614 shares in the company, valued at $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. Company 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.