Invesco Ltd. Sells 235,055 Shares of Valvoline (NYSE:VVV)

Key Points

• Invesco Ltd. has reduced its stake in Valvoline by 6.5%, now owning approximately 2.68% of the company, worth $118.5 million.
• Analysts are adjusting their ratings for Valvoline, with the Goldman Sachs Group upgrading its rating from "hold" to "buy" and increasing the price target from $40 to $45.
• Valvoline reported a 4.2% increase in revenue year-over-year with earnings per share of $0.47, exceeding the consensus estimate by $0.01.

Invesco Ltd. trimmed its position in shares of Valvoline (NYSE:VVV - Free Report) by 6.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,404,193 shares of the basic materials company's stock after selling 235,055 shares during the quarter. Invesco Ltd. owned approximately 2.68% of Valvoline worth $118,500,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. IFP Advisors Inc lifted its holdings in shares of Valvoline by 24.9% during the 1st quarter. IFP Advisors Inc now owns 2,832 shares of the basic materials company's stock valued at $100,000 after buying an additional 565 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Valvoline by 101.5% in the 1st quarter. GAMMA Investing LLC now owns 2,170 shares of the basic materials company's stock worth $76,000 after purchasing an additional 1,093 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Valvoline in the 1st quarter worth approximately $316,000. Yousif Capital Management LLC lifted its holdings in Valvoline by 1.7% in the 1st quarter. Yousif Capital Management LLC now owns 46,208 shares of the basic materials company's stock worth $1,608,000 after purchasing an additional 794 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in Valvoline in the 1st quarter worth approximately $865,000. 96.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Valvoline

In related news, CEO Lori Ann Flees acquired 3,000 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was acquired at an average price 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 of the company's stock, 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 SEC, which is available at the SEC website. Also, CFO J Kevin Willis purchased 12,725 shares of the stock in a transaction on Thursday, August 14th. The stock was acquired at an average price of $39.41 per share, with a total value of $501,492.25. Following the completion of the acquisition, the chief financial officer directly owned 12,725 shares of the company's stock, valued at approximately $501,492.25. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.66% of the company's stock.

Analyst Ratings Changes

VVV has been the subject of several analyst reports. Zacks Research upgraded Valvoline to a "hold" rating in a report on Tuesday, August 12th. Wells Fargo & Company boosted their target price on Valvoline from $42.00 to $44.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Morgan Stanley reduced their target price on Valvoline from $41.00 to $39.00 and set an "equal weight" rating for the company in a report on Friday, May 9th. Cfra Research raised Valvoline to a "hold" rating in a research report on Monday, July 7th. Finally, Citigroup dropped their price target on Valvoline from $41.00 to $38.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Valvoline currently has a consensus rating of "Moderate Buy" and a consensus target price of $42.31.

Valvoline Trading Down 0.3%

Shares of VVV traded down $0.13 during trading hours on Friday, hitting $39.27. 1,466,912 shares of the stock traded hands, compared to its average volume of 1,865,378. The company has a current ratio of 0.73, a quick ratio of 0.60 and a debt-to-equity ratio of 3.37. Valvoline has a 1-year low of $31.01 and a 1-year high of $43.74. The firm has a market capitalization of $4.99 billion, a PE ratio of 18.27 and a beta of 1.17. The business has a fifty day moving average of $37.33 and a 200-day moving average of $36.07.

Valvoline (NYSE:VVV - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.01. Valvoline had a return on equity of 84.85% and a net margin of 16.43%. The business had revenue of $439.00 million for the quarter, compared to analyst estimates of $436.35 million. During the same quarter in the prior year, the firm posted $0.45 earnings per share. The firm's revenue for the quarter was up 4.2% compared to the same quarter last year. Analysts expect that Valvoline will post 1.63 EPS for the current year.

About Valvoline

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.