Pinebridge Investments L.P. lifted its stake in shares of Valvoline Inc. (NYSE:VVV - Free Report) by 42.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 54,774 shares of the basic materials company's stock after purchasing an additional 16,384 shares during the period. Pinebridge Investments L.P.'s holdings in Valvoline were worth $1,982,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the stock. Dark Forest Capital Management LP purchased a new stake in Valvoline in the fourth quarter worth $582,000. Hsbc Holdings PLC purchased a new stake in Valvoline in the 4th quarter worth about $503,000. Tower Research Capital LLC TRC raised its stake in Valvoline by 181.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 13,148 shares of the basic materials company's stock valued at $476,000 after acquiring an additional 8,478 shares during the period. MetLife Investment Management LLC lifted its holdings in Valvoline by 8.1% during the fourth quarter. MetLife Investment Management LLC now owns 78,338 shares of the basic materials company's stock valued at $2,834,000 after purchasing an additional 5,851 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Valvoline by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,608,067 shares of the basic materials company's stock valued at $94,362,000 after purchasing an additional 6,871 shares during the last quarter. Institutional investors own 96.13% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on the stock. Royal Bank of Canada boosted their price target on shares of Valvoline from $46.00 to $48.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. TD Cowen assumed coverage on shares of Valvoline in a report on Friday, April 4th. They set a "buy" rating and a $40.00 target price on the stock. JPMorgan Chase & Co. raised their price target on Valvoline from $37.00 to $38.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Citigroup decreased their price objective on Valvoline from $41.00 to $38.00 and set a "neutral" rating on the stock in a research note on Tuesday. Finally, Wells Fargo & Company cut their target price on Valvoline from $44.00 to $42.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.67.
Check Out Our Latest Research Report on Valvoline
Insiders Place Their Bets
In other news, insider Julie Marie O'daniel sold 6,000 shares of Valvoline stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $37.41, for a total value of $224,460.00. Following the sale, the insider now directly owns 15,305 shares in the company, valued at approximately $572,560.05. This trade represents a 28.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is owned by insiders.
Valvoline Price Performance
VVV stock traded up $0.26 during midday trading on Friday, reaching $34.02. The company had a trading volume of 1,404,602 shares, compared to its average volume of 1,381,316. The firm has a 50-day moving average price of $34.63 and a 200-day moving average price of $37.28. The company has a market capitalization of $4.32 billion, a P/E ratio of 16.28 and a beta of 1.20. Valvoline Inc. has a 1 year low of $31.02 and a 1 year high of $48.27. The company has a debt-to-equity ratio of 4.39, a current ratio of 0.70 and a quick ratio of 0.58.
Valvoline (NYSE:VVV - Get Free Report) last released its earnings results on Thursday, February 6th. The basic materials company reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.01. Valvoline had a return on equity of 143.64% and a net margin of 16.34%. On average, research analysts anticipate that Valvoline Inc. will post 1.63 earnings per share for the current fiscal year.
Valvoline Profile
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Free Report)
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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