Nuveen Asset Management LLC Has $42.21 Million Position in Valvoline Inc. (NYSE:VVV)

Nuveen Asset Management LLC lowered its position in shares of Valvoline Inc. (NYSE:VVV - Free Report) by 26.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,166,753 shares of the basic materials company's stock after selling 415,339 shares during the quarter. Nuveen Asset Management LLC owned about 0.91% of Valvoline worth $42,213,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in Valvoline in the fourth quarter valued at about $54,114,000. Fiduciary Management Inc. WI raised its stake in Valvoline by 35.1% during the fourth quarter. Fiduciary Management Inc. WI now owns 4,221,275 shares of the basic materials company's stock worth $152,726,000 after acquiring an additional 1,096,486 shares in the last quarter. Wasatch Advisors LP raised its stake in Valvoline by 11.1% during the fourth quarter. Wasatch Advisors LP now owns 10,818,256 shares of the basic materials company's stock worth $391,405,000 after acquiring an additional 1,080,114 shares in the last quarter. Champlain Investment Partners LLC acquired a new position in Valvoline during the fourth quarter worth about $35,051,000. Finally, Marshall Wace LLP raised its stake in Valvoline by 697.1% during the fourth quarter. Marshall Wace LLP now owns 1,058,267 shares of the basic materials company's stock worth $38,288,000 after acquiring an additional 925,504 shares in the last quarter. Institutional investors and hedge funds own 96.13% of the company's stock.

Insider Activity at Valvoline

In related news, insider Julie Marie O'daniel sold 6,000 shares of Valvoline stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $37.41, for a total transaction of $224,460.00. Following the completion of the sale, the insider now owns 15,305 shares of the company's stock, valued at approximately $572,560.05. The trade was a 28.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.66% of the stock is owned by insiders.

Valvoline Price Performance

NYSE VVV traded down $0.17 on Friday, reaching $34.03. The company's stock had a trading volume of 1,277,945 shares, compared to its average volume of 1,425,376. The firm has a market cap of $4.33 billion, a PE ratio of 16.28 and a beta of 1.20. The business has a 50-day moving average price of $34.29 and a 200 day moving average price of $36.46. Valvoline Inc. has a 52 week low of $31.02 and a 52 week high of $48.27. The company has a current ratio of 0.70, a quick ratio of 0.58 and a debt-to-equity ratio of 4.39.

Valvoline (NYSE:VVV - Get Free Report) last issued its quarterly earnings data 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). Valvoline had a return on equity of 143.64% and a net margin of 16.34%. The company had revenue of $403.20 million for the quarter, compared to the consensus estimate of $405.38 million. During the same period in the prior year, the company earned $0.37 EPS. The firm's revenue was up 3.7% on a year-over-year basis. Sell-side analysts expect that Valvoline Inc. will post 1.63 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on VVV. Piper Sandler reissued an "overweight" rating and set a $44.00 target price (down previously from $45.00) on shares of Valvoline in a research note on Friday, May 9th. JPMorgan Chase & Co. boosted their price target on Valvoline from $37.00 to $38.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Wells Fargo & Company reduced their price target on Valvoline from $44.00 to $42.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. TD Cowen started coverage on Valvoline in a report on Friday, April 4th. They set a "buy" rating and a $40.00 price target on the stock. Finally, Citigroup reduced their price target on Valvoline from $41.00 to $38.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $42.33.

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.