M&T Bank Corp Sells 22,481 Shares of Valvoline (NYSE:VVV)

M&T Bank Corp lessened its holdings in shares of Valvoline (NYSE:VVV - Free Report) by 51.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,240 shares of the basic materials company's stock after selling 22,481 shares during the quarter. M&T Bank Corp's holdings in Valvoline were worth $739,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of VVV. Huntington National Bank grew its stake in shares of Valvoline by 1,004.9% in the 4th quarter. Huntington National Bank now owns 895 shares of the basic materials company's stock worth $32,000 after acquiring an additional 814 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of Valvoline in the 1st quarter worth about $35,000. American National Bank & Trust bought a new position in Valvoline during the first quarter valued at about $40,000. Versant Capital Management Inc grew its position in Valvoline by 221.8% during the first quarter. Versant Capital Management Inc now owns 1,181 shares of the basic materials company's stock valued at $41,000 after buying an additional 814 shares during the period. Finally, Aster Capital Management DIFC Ltd bought a new position in Valvoline during the fourth quarter valued at about $49,000. Institutional investors own 96.13% of the company's stock.

Valvoline Trading Down 1.4%

Shares of Valvoline stock opened at $38.03 on Tuesday. Valvoline has a 1 year low of $31.02 and a 1 year high of $48.27. The firm has a market cap of $4.83 billion, a PE ratio of 18.46 and a beta of 1.18. The company has a debt-to-equity ratio of 4.23, a current ratio of 0.73 and a quick ratio of 0.60. The company has a 50 day simple moving average of $36.27 and a two-hundred day simple moving average of $35.92.

Valvoline (NYSE:VVV - Get Free Report) last announced 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). The company had revenue of $403.20 million for the quarter, compared to the consensus estimate of $405.38 million. Valvoline had a net margin of 15.97% and a return on equity of 106.36%. The company's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.37 earnings per share. Analysts expect that Valvoline will post 1.63 earnings per share for the current fiscal year.

Insider Activity at Valvoline

In other news, CEO Lori Ann Flees bought 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were bought at an average cost of $33.78 per share, with a total value of $101,340.00. Following the completion of the purchase, the chief executive officer directly owned 46,614 shares in the company, valued at $1,574,620.92. This represents a 6.88% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 0.66% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on VVV. TD Securities began coverage on shares of Valvoline in a research report on Friday, April 4th. They set a "buy" rating and a $40.00 target price for the company. Cfra Research upgraded shares of Valvoline to a "hold" rating in a research report on Monday, July 7th. TD Cowen began coverage on shares of Valvoline in a research report on Friday, April 4th. They set a "buy" rating and a $40.00 target price for the company. Piper Sandler reiterated an "overweight" rating and set a $44.00 target price (down previously from $45.00) on shares of Valvoline in a research report on Friday, May 9th. Finally, The Goldman Sachs Group upgraded shares of Valvoline from a "hold" rating to a "buy" rating and increased their target price for the stock from $40.00 to $45.00 in a research report on Tuesday, June 3rd. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $42.54.

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.

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