Valvoline Inc. (NYSE:VVV) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System reduced its stake in shares of Valvoline Inc. (NYSE:VVV) by 2.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,015 shares of the basic materials company’s stock after selling 800 shares during the period. State of Michigan Retirement System’s holdings in Valvoline were worth $1,340,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Capital Insight Partners LLC grew its holdings in Valvoline by 1.7% in the 2nd quarter. Capital Insight Partners LLC now owns 87,311 shares of the basic materials company’s stock valued at $3,772,000 after buying an additional 1,460 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new position in shares of Valvoline during the 2nd quarter valued at about $213,000. Leeward Investments LLC MA boosted its position in shares of Valvoline by 0.8% during the 2nd quarter. Leeward Investments LLC MA now owns 670,717 shares of the basic materials company’s stock valued at $28,975,000 after acquiring an additional 5,178 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Valvoline by 6.4% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,130,920 shares of the basic materials company’s stock valued at $48,857,000 after purchasing an additional 68,340 shares during the period. Finally, Blue Trust Inc. increased its position in Valvoline by 57.9% during the second quarter. Blue Trust Inc. now owns 728 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 267 shares during the last quarter. Institutional investors and hedge funds own 96.13% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Wells Fargo & Company dropped their price target on shares of Valvoline from $50.00 to $46.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada lowered their price objective on Valvoline from $54.00 to $48.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Piper Sandler initiated coverage on Valvoline in a research report on Wednesday, June 12th. They issued an “overweight” rating and a $49.00 target price on the stock. Robert W. Baird initiated coverage on Valvoline in a report on Thursday, August 15th. They set an “outperform” rating and a $48.00 price target for the company. Finally, Citigroup boosted their price objective on shares of Valvoline from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Valvoline currently has an average rating of “Moderate Buy” and an average price target of $46.25.

Valvoline Stock Performance

Shares of Valvoline stock opened at $42.51 on Friday. The company has a debt-to-equity ratio of 10.57, a current ratio of 0.73 and a quick ratio of 0.62. The stock has a market capitalization of $5.48 billion, a price-to-earnings ratio of 33.74 and a beta of 1.43. The business has a 50-day moving average of $43.17 and a 200 day moving average of $42.56. Valvoline Inc. has a 12 month low of $29.15 and a 12 month high of $48.26.

Valvoline (NYSE:VVV) last posted its quarterly earnings data on Wednesday, August 7th. The basic materials company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.03). Valvoline had a net margin of 10.45% and a return on equity of 182.88%. The business had revenue of $421.00 million during the quarter, compared to analysts’ expectations of $425.17 million. During the same period in the previous year, the business posted $0.43 EPS. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Valvoline Inc. will post 1.54 earnings per share for the current 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.