Commerce Bank Trims Holdings in Valvoline (NYSE:VVV)

Key Points

• Commerce Bank reduced its stake in Valvoline by 1.2%, selling 15,098 shares and owning approximately 0.96% of the company worth $42.26 million as of the latest SEC filing.
• Valvoline's CEO, Lori Ann Flees, purchased 3,000 shares at $33.78 each, increasing her ownership by 6.88% to a total of 46,614 shares valued at around $1.57 million.
• The company's recent earnings report revealed an EPS of $0.34, below analysts' expectations of $0.36, while revenue increased 3.7% year-over-year, totaling $403.20 million.

Commerce Bank trimmed its holdings in Valvoline (NYSE:VVV - Free Report) by 1.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,214,149 shares of the basic materials company's stock after selling 15,098 shares during the quarter. Commerce Bank owned 0.96% of Valvoline worth $42,265,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Commonwealth Equity Services LLC raised its position in Valvoline by 13.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 9,411 shares of the basic materials company's stock worth $341,000 after purchasing an additional 1,142 shares during the period. LPL Financial LLC increased its holdings in shares of Valvoline by 26.5% in the fourth quarter. LPL Financial LLC now owns 33,872 shares of the basic materials company's stock worth $1,225,000 after buying an additional 7,097 shares during the period. Norges Bank bought a new stake in shares of Valvoline in the 4th quarter valued at about $54,114,000. Pictet Asset Management Holding SA lifted its stake in shares of Valvoline by 26.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 21,434 shares of the basic materials company's stock valued at $775,000 after acquiring an additional 4,438 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Valvoline by 7.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 88,444 shares of the basic materials company's stock valued at $3,200,000 after acquiring an additional 6,097 shares during the period. Hedge funds and other institutional investors own 96.13% of the company's stock.

Valvoline Trading Down 0.7%

Shares of NYSE:VVV traded down $0.23 on Friday, hitting $35.02. The company had a trading volume of 1,727,334 shares, compared to its average volume of 1,728,139. The firm's 50-day simple moving average is $36.69 and its two-hundred day simple moving average is $35.97. The firm has a market capitalization of $4.45 billion, a price-to-earnings ratio of 17.00 and a beta of 1.17. 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 has a 1 year low of $31.01 and a 1 year high of $45.28.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.02). The company had revenue of $403.20 million during the quarter, compared to the consensus estimate of $405.38 million. Valvoline had a return on equity of 106.36% and a net margin of 15.97%. Valvoline's quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.37 earnings per share. Equities analysts anticipate that Valvoline will post 1.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on VVV shares. Wells Fargo & Company decreased their price target on Valvoline from $44.00 to $42.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. The Goldman Sachs Group upgraded shares of Valvoline from a "hold" rating to a "buy" rating and raised their target price for the stock from $40.00 to $45.00 in a report on Tuesday, June 3rd. Morgan Stanley lowered their price target 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. Stephens raised their price target on shares of Valvoline from $40.00 to $44.00 and gave the stock an "overweight" rating in a report on Tuesday. Finally, Cfra Research upgraded shares of Valvoline to a "hold" rating in a research report on Monday, July 7th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.15.

Insider Activity

In other news, CEO Lori Ann Flees bought 3,000 shares of the stock in a transaction dated Tuesday, May 27th. The stock was bought at an average price of $33.78 per share, for a total transaction of $101,340.00. Following the purchase, the chief executive officer directly owned 46,614 shares in the company, valued at $1,574,620.92. This trade represents a 6.88% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.66% of the company's stock.

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.