New York State Common Retirement Fund Sells 49,752 Shares of Valvoline Inc. (NYSE:VVV)

New York State Common Retirement Fund cut its position in Valvoline Inc. (NYSE:VVV - Free Report) by 21.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 180,134 shares of the basic materials company's stock after selling 49,752 shares during the period. New York State Common Retirement Fund owned 0.14% of Valvoline worth $6,769,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Park Place Capital Corp acquired a new position in shares of Valvoline during the fourth quarter worth approximately $26,000. CWM LLC lifted its position in shares of Valvoline by 127.1% during the third quarter. CWM LLC now owns 1,465 shares of the basic materials company's stock worth $47,000 after purchasing an additional 820 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Valvoline during the fourth quarter worth approximately $57,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Valvoline during the third quarter worth approximately $60,000. Finally, Fifth Third Bancorp lifted its position in shares of Valvoline by 20.3% during the fourth quarter. Fifth Third Bancorp now owns 1,876 shares of the basic materials company's stock worth $70,000 after purchasing an additional 316 shares in the last quarter. 96.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

VVV has been the subject of a number of recent research reports. Royal Bank of Canada boosted their price target on shares of Valvoline from $43.00 to $45.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 7th. Citigroup boosted their price target on shares of Valvoline from $36.00 to $45.00 and gave the stock a "neutral" rating in a research note on Wednesday, March 13th. Mizuho initiated coverage on shares of Valvoline in a research note on Tuesday, March 19th. They set a "buy" rating and a $50.00 price target for the company. Finally, Morgan Stanley raised shares of Valvoline from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $37.00 to $44.00 in a research note on Tuesday, January 16th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $42.75.

Valvoline Stock Up 2.5 %

VVV traded up $1.08 during trading hours on Friday, hitting $43.62. 996,378 shares of the company's stock were exchanged, compared to its average volume of 967,000. Valvoline Inc. has a 1-year low of $29.15 and a 1-year high of $45.37. The stock's 50-day moving average is $43.14 and its two-hundred day moving average is $38.14. The stock has a market cap of $5.66 billion, a price-to-earnings ratio of 5.42 and a beta of 1.45. The company has a quick ratio of 2.14, a current ratio of 2.24 and a debt-to-equity ratio of 24.02.

Valvoline (NYSE:VVV - Get Free Report) last announced its earnings results on Tuesday, February 6th. The basic materials company reported $0.29 EPS for the quarter, hitting the consensus estimate of $0.29. Valvoline had a net margin of 92.04% and a return on equity of 41.83%. The business had revenue of $373.40 million during the quarter, compared to analysts' expectations of $380.10 million. During the same quarter in the prior year, the company posted $0.16 earnings per share. The firm's revenue was up 12.2% on a year-over-year basis. Sell-side analysts predict that Valvoline Inc. will post 1.61 earnings per share for the current fiscal year.

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.