Millennium Management LLC Buys 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 grew its position in shares of Valvoline (NYSE:VVV - Free Report) by 315.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,510,338 shares of the basic materials company's stock after acquiring an additional 1,146,728 shares during the quarter. Millennium Management LLC owned 1.19% of Valvoline worth $52,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of VVV. Opal Wealth Advisors LLC purchased a new position in Valvoline during the 1st quarter worth $35,000. American National Bank & Trust purchased a new position in shares of Valvoline in the 1st quarter worth about $40,000. 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 buying an additional 814 shares during the last quarter. CWM LLC boosted its holdings in shares of Valvoline by 50.8% in the 1st quarter. CWM LLC now owns 1,440 shares of the basic materials company's stock worth $50,000 after buying an additional 485 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of Valvoline by 145.4% in the 1st quarter. UMB Bank n.a. now owns 1,531 shares of the basic materials company's stock worth $53,000 after buying an additional 907 shares during the last quarter. 96.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VVV has been the topic of a number of research analyst reports. The Goldman Sachs Group raised shares of Valvoline from a "hold" rating to a "buy" rating and boosted their price target for the stock from $40.00 to $45.00 in a report on Tuesday, June 3rd. Cfra Research raised shares of Valvoline to a "hold" rating in a report on Monday, July 7th. Wells Fargo & Company boosted their price target on shares of Valvoline from $42.00 to $44.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Zacks Research raised shares of Valvoline to a "hold" rating in a report on Tuesday, August 12th. Finally, Piper Sandler boosted their price target on shares of Valvoline from $44.00 to $50.00 and gave the stock an "overweight" rating in a report on Monday. Nine equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $42.77.

Insider Buying and Selling

In other Valvoline news, CFO J Kevin Willis acquired 12,725 shares of the company's stock in a transaction on Thursday, August 14th. The shares were acquired at an average cost 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 in the company, valued at $501,492.25. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.66% of the stock is currently owned by company insiders.

Valvoline Stock Performance

NYSE VVV traded down $0.08 during trading on Friday, hitting $40.47. 1,224,422 shares of the company's stock traded hands, compared to its average volume of 1,725,013. The stock has a market capitalization of $5.14 billion, a price-to-earnings ratio of 18.82 and a beta of 1.21. Valvoline has a 12-month low of $31.01 and a 12-month high of $43.74. The company has a debt-to-equity ratio of 3.37, a quick ratio of 0.60 and a current ratio of 0.73. The business has a 50 day moving average of $38.10 and a 200-day moving average of $36.20.

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