Valvoline Inc. (NYSE:VVV) Shares Sold by Congress Asset Management Co.

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

A number of other hedge funds also recently added to or reduced their stakes in VVV. Norges Bank acquired a new stake in shares of Valvoline in the 4th quarter valued at approximately $54,114,000. Fiduciary Management Inc. WI increased its stake in 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 in the last quarter. Wasatch Advisors LP increased its position in Valvoline by 11.1% during the fourth quarter. Wasatch Advisors LP now owns 10,818,256 shares of the basic materials company's stock worth $391,405,000 after buying an additional 1,080,114 shares in the last quarter. Squarepoint Ops LLC increased its position in Valvoline by 653.5% during the fourth quarter. Squarepoint Ops LLC now owns 1,147,254 shares of the basic materials company's stock worth $41,508,000 after buying an additional 994,988 shares in the last quarter. Finally, Champlain Investment Partners LLC purchased a new position in Valvoline during the fourth quarter worth $35,051,000. 96.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

VVV has been the subject of a number of recent analyst reports. Morgan Stanley lowered their price objective on Valvoline from $41.00 to $39.00 and set an "equal weight" rating for the company in a research report on Friday, May 9th. JPMorgan Chase & Co. boosted their price objective on Valvoline from $37.00 to $38.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Wells Fargo & Company dropped their target price on Valvoline from $44.00 to $42.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Piper Sandler reissued an "overweight" rating and issued a $44.00 price objective (down from $45.00) on shares of Valvoline in a report on Friday, May 9th. Finally, TD Securities initiated coverage on Valvoline in a report on Friday, April 4th. They issued a "buy" rating and a $40.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Valvoline has a consensus rating of "Moderate Buy" and an average price target of $42.54.

Valvoline Stock Performance

Shares of NYSE VVV traded down $1.12 during midday trading on Friday, hitting $35.33. 2,713,590 shares of the company's stock were exchanged, compared to its average volume of 1,469,512. 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 stock's 50 day moving average price is $34.41 and its 200-day moving average price is $35.99. The firm has a market cap of $4.49 billion, a P/E ratio of 16.90 and a beta of 1.17. Valvoline Inc. has a twelve month low of $31.02 and a twelve month high of $48.27.

Valvoline (NYSE:VVV - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $403.20 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the firm posted $0.37 earnings per share. Equities research analysts anticipate that Valvoline Inc. will post 1.63 EPS for the current year.

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 stock was purchased at an average cost of $33.78 per share, for a total transaction of $101,340.00. Following the completion of the transaction, the chief executive officer now directly owns 46,614 shares of the company's stock, 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 through this hyperlink. Insiders own 0.66% of the company's stock.

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.