Valvoline $VVV Shares Sold by Truist Financial Corp

Key Points

• Truist Financial Corp reduced its holdings in Valvoline by 19.2% during the second quarter, now owning approximately 0.06% of the company, valued at $3.04 million.
• Valvoline's CFO, J Kevin Willis, recently acquired 12,725 shares of the company, increasing his stake and reflecting confidence in the firm's outlook.
• Research analysts have mixed sentiments on Valvoline, with some boosting their price targets to as high as $50.00, while others have downgraded their ratings to "sell."

Truist Financial Corp lessened its holdings in shares of Valvoline (NYSE:VVV - Free Report) by 19.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 80,174 shares of the basic materials company's stock after selling 19,057 shares during the quarter. Truist Financial Corp owned approximately 0.06% of Valvoline worth $3,036,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Washington Capital Management Inc. acquired a new stake in Valvoline during the 2nd quarter worth $216,000. Steph & Co. acquired a new stake in Valvoline during the 2nd quarter worth $45,000. Dakota Wealth Management acquired a new stake in Valvoline during the 2nd quarter worth $221,000. Maseco LLP acquired a new stake in Valvoline during the 2nd quarter worth $27,000. Finally, Farther Finance Advisors LLC boosted its stake in Valvoline by 49.8% during the 2nd quarter. Farther Finance Advisors LLC now owns 4,285 shares of the basic materials company's stock worth $162,000 after purchasing an additional 1,425 shares during the last quarter. Institutional investors and hedge funds own 96.13% of the company's stock.

Insiders Place Their Bets

In other news, CFO J Kevin Willis acquired 12,725 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were purchased at an average cost of $39.41 per share, for a total transaction of $501,492.25. Following the transaction, the chief financial officer directly owned 12,725 shares in the company, valued at approximately $501,492.25. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.66% of the stock is currently owned by company insiders.

Valvoline Stock Performance

Shares of Valvoline stock opened at $33.98 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.73 and a debt-to-equity ratio of 3.37. The firm has a market capitalization of $4.32 billion, a P/E ratio of 15.80 and a beta of 1.18. The firm's 50 day moving average is $38.14 and its two-hundred day moving average is $36.41. Valvoline has a 52 week low of $31.01 and a 52 week high of $43.74.

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wells Fargo & Company boosted their price target on shares of Valvoline from $42.00 to $44.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Piper Sandler boosted their price target on shares of Valvoline from $44.00 to $50.00 and gave the company an "overweight" rating in a research report on Monday, September 8th. Wall Street Zen cut shares of Valvoline from a "hold" rating to a "sell" rating in a research report on Friday, September 26th. Cfra Research raised shares of Valvoline to a "hold" rating in a research report on Monday, July 7th. Finally, Zacks Research raised shares of Valvoline to a "hold" rating in a research report on Tuesday, August 12th. Nine research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price 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.

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