New York State Teachers Retirement System Reduces Stock Holdings in Valvoline (NYSE:VVV)

New York State Teachers Retirement System lowered its stake in Valvoline (NYSE:VVV - Free Report) by 14.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 136,346 shares of the basic materials company's stock after selling 23,900 shares during the quarter. New York State Teachers Retirement System owned 0.11% of Valvoline worth $4,746,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Diversified Trust Co lifted its position in Valvoline by 19.7% in the first quarter. Diversified Trust Co now owns 12,632 shares of the basic materials company's stock valued at $440,000 after purchasing an additional 2,082 shares during the last quarter. Riverwater Partners LLC lifted its position in Valvoline by 8.0% in the first quarter. Riverwater Partners LLC now owns 9,419 shares of the basic materials company's stock valued at $328,000 after purchasing an additional 696 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in Valvoline by 29.7% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 2,045,198 shares of the basic materials company's stock valued at $71,193,000 after purchasing an additional 467,885 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in Valvoline in the first quarter valued at approximately $35,000. Finally, SG Americas Securities LLC bought a new stake in Valvoline in the first quarter valued at approximately $496,000. Institutional investors own 96.13% of the company's stock.

Valvoline Stock Down 0.2%

Shares of NYSE VVV traded down $0.07 during trading on Tuesday, reaching $38.97. The company had a trading volume of 1,847,591 shares, compared to its average volume of 1,517,358. Valvoline has a 12-month low of $31.02 and a 12-month high of $48.27. The stock has a market cap of $4.95 billion, a PE ratio of 18.92 and a beta of 1.18. The business's 50-day moving average is $35.81 and its 200 day moving average is $35.85. The company has a quick ratio of 0.60, a current ratio of 0.73 and a debt-to-equity ratio of 4.23.

Valvoline (NYSE:VVV - Get Free Report) last released its 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). Valvoline had a return on equity of 106.36% and a net margin of 15.97%. The company had revenue of $403.20 million during the quarter, compared to analysts' expectations of $405.38 million. During the same period in the prior year, the company posted $0.37 earnings per share. The company's revenue was up 3.7% on a year-over-year basis. As a group, equities analysts forecast that Valvoline will post 1.63 earnings per share for the current fiscal year.

Insider Activity at Valvoline

In other Valvoline news, CEO Lori Ann Flees acquired 3,000 shares of the company'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 transaction, the chief executive officer directly owned 46,614 shares of the company's stock, valued at approximately $1,574,620.92. This represents a 6.88% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.66% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on VVV shares. TD Cowen began coverage on Valvoline in a research report on Friday, April 4th. They issued a "buy" rating and a $40.00 price objective for the company. Citigroup cut their price target on shares of Valvoline from $41.00 to $38.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Morgan Stanley reduced their price objective on shares of Valvoline from $41.00 to $39.00 and set an "equal weight" rating on the stock in a research report on Friday, May 9th. Piper Sandler reaffirmed an "overweight" rating and issued a $44.00 target price (down from $45.00) on shares of Valvoline in a research report on Friday, May 9th. Finally, The Goldman Sachs Group raised shares of Valvoline from a "hold" rating to a "buy" rating and lifted their target price for the company from $40.00 to $45.00 in a research note on Tuesday, June 3rd. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $42.54.

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.