Millennium Management LLC Acquires 1,146,728 Shares of Valvoline $VVV

Key Points

• Millennium Management LLC increased its stake in Valvoline by 315.4% in the first quarter, acquiring an additional 1,146,728 shares, bringing its total ownership to approximately 1.19% valued at $52.575 million.
• Following recent research reports, Valvoline received a mix of ratings, with Goldman Sachs upgrading it from "hold" to "buy," increasing its target price from $40 to $45.
• Valvoline reported a net margin of 16.43% and earnings per share of $0.47 for the last quarter, which exceeded analysts' expectations of $0.46.

Millennium Management LLC boosted its holdings in Valvoline (NYSE:VVV - Free Report) by 315.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,510,338 shares of the basic materials company's stock after purchasing an additional 1,146,728 shares during the quarter. Millennium Management LLC owned about 1.19% of Valvoline worth $52,575,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of VVV. Opal Wealth Advisors LLC purchased a new stake in Valvoline in the first quarter worth about $35,000. American National Bank & Trust purchased a new stake in Valvoline in the first quarter worth about $40,000. Versant Capital Management Inc grew its holdings in Valvoline by 221.8% in the first 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 during the period. CWM LLC grew its holdings in Valvoline by 50.8% in the first quarter. CWM LLC now owns 1,440 shares of the basic materials company's stock worth $50,000 after purchasing an additional 485 shares during the period. Finally, UMB Bank n.a. grew its holdings in Valvoline by 145.4% in the first quarter. UMB Bank n.a. now owns 1,531 shares of the basic materials company's stock worth $53,000 after purchasing an additional 907 shares during the period. Hedge funds and other institutional investors own 96.13% of the company's stock.

Valvoline Stock Performance

VVV stock traded down $0.08 on Friday, hitting $40.47. The company had a trading volume of 1,224,422 shares, compared to its average volume of 1,419,957. Valvoline has a 12-month low of $31.01 and a 12-month high of $43.74. The company has a current ratio of 0.73, a quick ratio of 0.60 and a debt-to-equity ratio of 3.37. The stock's 50-day simple moving average is $38.12 and its 200 day simple moving average is $36.21. The stock has a market cap of $5.14 billion, a price-to-earnings ratio of 18.82 and a beta of 1.21.

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

Insider Transactions at Valvoline

In related news, CFO J Kevin Willis bought 12,725 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The shares were bought at an average price of $39.41 per share, for a total transaction of $501,492.25. Following the completion of the acquisition, the chief financial officer owned 12,725 shares of the company's stock, valued at $501,492.25. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.66% of the company's stock.

Wall Street Analysts Forecast Growth

VVV has been the topic of a number of recent research reports. The Goldman Sachs Group upgraded shares of Valvoline from a "hold" rating to a "buy" rating and upped their price objective for the stock from $40.00 to $45.00 in a report on Tuesday, June 3rd. Zacks Research upgraded shares of Valvoline to a "hold" rating in a report on Tuesday, August 12th. Stephens increased their price target on shares of Valvoline from $40.00 to $44.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Wells Fargo & Company increased their price target on shares of Valvoline from $42.00 to $44.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Finally, Cfra Research upgraded shares of Valvoline to a "hold" rating in a report on Monday, July 7th. Nine equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $42.77.

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.