Tensile Capital Management LP Sells 35,000 Shares of Valvoline Inc. (NYSE:VVV)

Tensile Capital Management LP trimmed its holdings in Valvoline Inc. (NYSE:VVV - Free Report) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,840,179 shares of the basic materials company's stock after selling 35,000 shares during the quarter. Valvoline makes up about 6.9% of Tensile Capital Management LP's holdings, making the stock its 5th biggest position. Tensile Capital Management LP owned 1.43% of Valvoline worth $66,578,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Huntington National Bank increased its holdings in shares of Valvoline by 1,004.9% in the 4th 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. Centricity Wealth Management LLC acquired a new stake in Valvoline during the 4th quarter worth approximately $36,000. Aster Capital Management DIFC Ltd acquired a new stake in Valvoline during the 4th quarter worth approximately $49,000. Headlands Technologies LLC acquired a new stake in Valvoline during the 4th quarter worth approximately $73,000. Finally, Atala Financial Inc acquired a new stake in Valvoline during the 4th quarter worth approximately $77,000. 96.13% of the stock is owned by institutional investors and hedge funds.

Valvoline Price Performance

Valvoline stock traded down $1.86 during midday trading on Wednesday, reaching $33.64. The company's stock had a trading volume of 1,523,943 shares, compared to its average volume of 1,416,952. Valvoline Inc. has a fifty-two week low of $31.02 and a fifty-two week high of $48.27. The company has a debt-to-equity ratio of 4.39, a quick ratio of 0.58 and a current ratio of 0.70. The stock's 50 day simple moving average is $34.41 and its 200 day simple moving average is $36.67. The firm has a market capitalization of $4.28 billion, a PE ratio of 16.09 and a beta of 1.20.

Valvoline (NYSE:VVV - Get Free Report) last released its quarterly earnings results 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). The firm had revenue of $403.20 million during the quarter, compared to analyst estimates of $405.38 million. Valvoline had a return on equity of 143.64% and a net margin of 16.34%. The business's revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.37 EPS. On average, equities research analysts forecast that Valvoline Inc. will post 1.63 earnings per share for the current year.

Analyst Ratings Changes

VVV has been the subject of a number of recent research reports. Wells Fargo & Company decreased their price objective on Valvoline from $44.00 to $42.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Morgan Stanley decreased their price objective on Valvoline from $41.00 to $39.00 and set an "equal weight" rating for the company in a research report on Friday, May 9th. Citigroup decreased their price objective on Valvoline from $41.00 to $38.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Piper Sandler reiterated an "overweight" rating and set a $44.00 price target (down from $45.00) on shares of Valvoline in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Valvoline from $37.00 to $38.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Four 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.33.

Insider Buying and Selling

In other Valvoline 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 transaction, the insider now owns 15,305 shares in the company, valued at approximately $572,560.05. The trade was a 28.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.66% of the company's stock.

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.