Glenmede Trust Co. NA trimmed its position in Valvoline Inc. (NYSE:VVV - Get Rating) by 10.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 583,911 shares of the basic materials company's stock after selling 70,695 shares during the quarter. Glenmede Trust Co. NA owned approximately 0.33% of Valvoline worth $14,795,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Captrust Financial Advisors boosted its holdings in shares of Valvoline by 87.8% in the third quarter. Captrust Financial Advisors now owns 23,631 shares of the basic materials company's stock worth $599,000 after buying an additional 11,049 shares during the period. BNP Paribas Arbitrage SNC lifted its position in shares of Valvoline by 88.3% in the third quarter. BNP Paribas Arbitrage SNC now owns 42,587 shares of the basic materials company's stock worth $1,079,000 after purchasing an additional 19,971 shares in the last quarter. State Street Corp lifted its position in shares of Valvoline by 1.2% in the third quarter. State Street Corp now owns 4,886,025 shares of the basic materials company's stock worth $123,812,000 after purchasing an additional 60,036 shares in the last quarter. Stormborn Capital Management LLC lifted its position in shares of Valvoline by 4.6% in the third quarter. Stormborn Capital Management LLC now owns 565,000 shares of the basic materials company's stock worth $14,317,000 after purchasing an additional 25,000 shares in the last quarter. Finally, Twinbeech Capital LP purchased a new stake in shares of Valvoline in the third quarter worth approximately $850,000. 90.20% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of analysts have recently issued reports on VVV shares. Citigroup increased their price target on shares of Valvoline from $35.00 to $39.00 in a research report on Wednesday, November 16th. StockNews.com raised shares of Valvoline from a "sell" rating to a "hold" rating in a research report on Friday, January 6th. Finally, Royal Bank of Canada started coverage on shares of Valvoline in a research report on Tuesday, December 6th. They issued an "outperform" rating and a $39.00 price target for the company.
Valvoline Stock Up 0.6 %
VVV traded up $0.22 during midday trading on Wednesday, hitting $35.38. 127,517 shares of the company's stock traded hands, compared to its average volume of 1,261,201. The company has a market cap of $6.17 billion, a PE ratio of 14.90 and a beta of 1.34. The stock's fifty day simple moving average is $32.96 and its 200-day simple moving average is $30.34. The company has a debt-to-equity ratio of 4.97, a current ratio of 1.76 and a quick ratio of 1.73. Valvoline Inc. has a one year low of $24.40 and a one year high of $36.65.
Valvoline (NYSE:VVV - Get Rating) last issued its quarterly earnings data on Tuesday, November 15th. The basic materials company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.03. The firm had revenue of $335.40 million for the quarter, compared to analyst estimates of $794.02 million. Valvoline had a net margin of 13.99% and a return on equity of 170.52%. As a group, equities analysts anticipate that Valvoline Inc. will post 1.13 earnings per share for the current fiscal year.
Valvoline Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Friday, December 2nd were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend was Thursday, December 1st. Valvoline's payout ratio is presently 21.19%.
Insider Buying and Selling at Valvoline
In other Valvoline news, insider Julie Marie O'daniel sold 9,886 shares of the stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $32.42, for a total transaction of $320,504.12. Following the transaction, the insider now owns 16,230 shares in the company, valued at $526,176.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Valvoline news, CAO Michael S. Ryan sold 900 shares of the stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $32.73, for a total transaction of $29,457.00. Following the transaction, the chief accounting officer now owns 8,258 shares in the company, valued at $270,284.34. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Julie Marie O'daniel sold 9,886 shares of the firm's stock in a transaction on Monday, November 21st. The stock was sold at an average price of $32.42, for a total transaction of $320,504.12. Following the completion of the sale, the insider now owns 16,230 shares in the company, valued at approximately $526,176.60. The disclosure for this sale can be found here. Insiders have sold a total of 15,786 shares of company stock worth $514,611 over the last 90 days. Insiders own 0.99% of the company's stock.
Valvoline, Inc engages in the production, marketing, and supply of engine and automotive maintenance products and services. It operates through the Retail Services segment. The Retail Services segment services the passenger car and light truck quick lube market in the US and Canada with preventive maintenance services done through company operated and independent franchise care stores.
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