New York State Common Retirement Fund Raises Holdings in Valvoline (NYSE:VVV)

New York State Common Retirement Fund grew its holdings in Valvoline (NYSE:VVV - Free Report) by 125.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 538,065 shares of the basic materials company's stock after buying an additional 299,812 shares during the quarter. New York State Common Retirement Fund owned about 0.42% of Valvoline worth $18,730,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Huntington National Bank lifted its holdings in Valvoline by 1,004.9% in the fourth quarter. Huntington National Bank now owns 895 shares of the basic materials company's stock valued at $32,000 after acquiring an additional 814 shares during the period. Opal Wealth Advisors LLC purchased a new position in shares of Valvoline in the 1st quarter valued at about $35,000. American National Bank & Trust purchased a new position in shares of Valvoline in the 1st quarter valued at about $40,000. Versant Capital Management Inc boosted its holdings 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 worth $41,000 after buying an additional 814 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new stake in Valvoline during the fourth quarter worth about $49,000. 96.13% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Valvoline news, CEO Lori Ann Flees acquired 3,000 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were 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 directly owned 46,614 shares of the company's stock, valued at $1,574,620.92. This trade represents a 6.88% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.66% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. TD Cowen assumed coverage on shares of Valvoline in a report on Friday, April 4th. They issued a "buy" rating and a $40.00 target price for the company. Piper Sandler restated an "overweight" rating and issued a $44.00 price target (down previously from $45.00) on shares of Valvoline in a report on Friday, May 9th. Cfra Research raised Valvoline to a "hold" rating in a research note on Monday, July 7th. Morgan Stanley decreased their target price on Valvoline from $41.00 to $39.00 and set an "equal weight" rating on the stock in a research 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 target price on the stock. Five investment 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 company. According to MarketBeat.com, Valvoline currently has an average rating of "Moderate Buy" and a consensus target price of $42.54.

Valvoline Trading Down 4.2%

Valvoline stock opened at $35.82 on Thursday. The stock has a 50-day moving average price of $36.34 and a 200 day moving average price of $35.93. Valvoline has a 52 week low of $31.02 and a 52 week high of $48.27. The stock has a market cap of $4.55 billion, a PE ratio of 17.39 and a beta of 1.18. The company has a current ratio of 0.73, a quick ratio of 0.60 and a debt-to-equity ratio of 4.23.

Valvoline (NYSE:VVV - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The basic materials company reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.02). The firm had revenue of $403.20 million for the quarter, compared to analysts' expectations of $405.38 million. Valvoline had a return on equity of 106.36% and a net margin of 15.97%. The business's quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.37 earnings per share. Equities research analysts predict 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.

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