Oppenheimer Asset Management Inc. Trims Stake in Valvoline (NYSE:VVV)

Oppenheimer Asset Management Inc. trimmed its position in shares of Valvoline (NYSE:VVV - Free Report) by 9.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 111,565 shares of the basic materials company's stock after selling 11,915 shares during the quarter. Oppenheimer Asset Management Inc. owned 0.09% of Valvoline worth $3,884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Huntington National Bank lifted its position in shares of Valvoline by 1,004.9% during the fourth quarter. Huntington National Bank now owns 895 shares of the basic materials company's stock valued at $32,000 after purchasing an additional 814 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in Valvoline in the 1st quarter valued at about $35,000. American National Bank & Trust bought a new position in shares of Valvoline during the 1st quarter worth approximately $40,000. Versant Capital Management Inc boosted its stake 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. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Valvoline in the fourth quarter valued at approximately $49,000. Institutional investors own 96.13% of the company's stock.

Valvoline Stock Performance

Shares of VVV traded up $1.13 during trading hours on Friday, hitting $38.17. The company's stock had a trading volume of 360,580 shares, compared to its average volume of 1,696,624. The business has a 50 day simple moving average of $35.12 and a two-hundred day simple moving average of $35.83. Valvoline has a 52-week low of $31.01 and a 52-week high of $48.26. 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 market cap of $4.85 billion, a price-to-earnings ratio of 18.53 and a beta of 1.17.

Valvoline (NYSE:VVV - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The basic materials company reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.02). Valvoline had a net margin of 15.97% and a return on equity of 106.36%. The business had revenue of $403.20 million during the quarter, compared to analysts' expectations of $405.38 million. During the same quarter in the prior year, the firm posted $0.37 earnings per share. The firm's quarterly revenue was up 3.7% on a year-over-year basis. On average, equities analysts expect that Valvoline will post 1.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Lori Ann Flees bought 3,000 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was acquired at an average price of $33.78 per share, for a total transaction of $101,340.00. Following the purchase, the chief executive officer now directly owns 46,614 shares in the company, valued at $1,574,620.92. This trade represents a 6.88% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently commented on VVV shares. TD Cowen began coverage on Valvoline in a report on Friday, April 4th. They set a "buy" rating and a $40.00 price target on the stock. The Goldman Sachs Group raised Valvoline from a "hold" rating to a "buy" rating and raised their target price for the company from $40.00 to $45.00 in a research report on Tuesday, June 3rd. TD Securities began coverage on shares of Valvoline in a report on Friday, April 4th. They issued a "buy" rating and a $40.00 price target on the stock. Morgan Stanley decreased their price objective on shares of Valvoline from $41.00 to $39.00 and set an "equal weight" rating for the company in a report on Friday, May 9th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $44.00 target price (down from $45.00) on shares of Valvoline in a research note on Friday, May 9th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $42.54.

Valvoline 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.