Valvoline $VVV Shares Acquired by Tensile Capital Management LP

Key Points

• Tensile Capital Management LP increased its stake in Valvoline by 6.8% in the first quarter, now holding 1,965,179 shares, which accounts for approximately 8.7% of its investment portfolio.
• Valvoline reported a quarterly EPS of $0.47, beating analyst expectations of $0.46, with revenues rising 4.2% year-over-year to $439 million.
• Analysts from Goldman Sachs raised Valvoline's rating from "hold" to "buy," with a target price increase from $40 to $45, reflecting positive sentiment around the stock.

Tensile Capital Management LP lifted its holdings in shares of Valvoline (NYSE:VVV - Free Report) by 6.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,965,179 shares of the basic materials company's stock after acquiring an additional 125,000 shares during the quarter. Valvoline accounts for about 8.7% of Tensile Capital Management LP's investment portfolio, making the stock its 5th biggest position. Tensile Capital Management LP owned approximately 1.55% of Valvoline worth $68,408,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fiduciary Management Inc. WI increased its holdings in Valvoline by 13.0% in the first quarter. Fiduciary Management Inc. WI now owns 4,769,346 shares of the basic materials company's stock valued at $166,021,000 after buying an additional 548,071 shares during the last quarter. Alua Capital Management LP increased its holdings in Valvoline by 3.6% in the first quarter. Alua Capital Management LP now owns 3,734,466 shares of the basic materials company's stock valued at $129,997,000 after buying an additional 129,185 shares during the last quarter. Boston Partners bought a new stake in Valvoline in the first quarter valued at about $82,748,000. Vaughan Nelson Investment Management L.P. increased its holdings 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 buying an additional 467,885 shares during the last quarter. Finally, Sculptor Capital LP increased its holdings in Valvoline by 0.6% in the fourth quarter. Sculptor Capital LP now owns 2,033,500 shares of the basic materials company's stock valued at $73,572,000 after buying an additional 13,000 shares during the last quarter. 96.13% of the stock is owned by hedge funds and other institutional investors.

Valvoline Price Performance

Valvoline stock traded down $0.39 during trading hours on Friday, hitting $40.16. 277,294 shares of the company traded hands, compared to its average volume of 1,719,361. The firm's 50-day simple moving average is $38.10 and its two-hundred day simple moving average is $36.20. The firm has a market cap of $5.10 billion, a P/E ratio of 18.70 and a beta of 1.21. Valvoline has a 1-year low of $31.01 and a 1-year high of $43.74. The company has a quick ratio of 0.60, a current ratio of 0.73 and a debt-to-equity ratio of 3.37.

Valvoline (NYSE:VVV - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.46 by $0.01. Valvoline had a net margin of 16.43% and a return on equity of 84.85%. The business had revenue of $439.00 million for the quarter, compared to analyst estimates of $436.35 million. During the same quarter last year, the business earned $0.45 earnings per share. The business's revenue for the quarter was up 4.2% on a year-over-year basis. As a group, analysts forecast that Valvoline will post 1.63 earnings per share for the current fiscal year.

Insider Activity at Valvoline

In other news, CFO J Kevin Willis bought 12,725 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The stock was acquired at an average price of $39.41 per share, with a total value of $501,492.25. Following the completion of the purchase, the chief financial officer directly owned 12,725 shares of the company's stock, valued at $501,492.25. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.66% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on VVV. Zacks Research raised Valvoline to a "hold" rating in a report on Tuesday, August 12th. Cfra Research upgraded Valvoline to a "hold" rating in a research report on Monday, July 7th. Wells Fargo & Company increased their target price on Valvoline from $42.00 to $44.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Wall Street Zen cut Valvoline from a "hold" rating to a "sell" rating in a research note on Sunday, September 7th. Finally, Stephens upped their price target on shares of Valvoline from $40.00 to $44.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Nine research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $42.77.

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.