Valvoline Inc. (NYSE:VVV) Shares Bought by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp raised its holdings in shares of Valvoline Inc. (NYSE:VVV) by 22.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 139,352 shares of the basic materials company’s stock after buying an additional 25,885 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Valvoline were worth $6,020,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Blue Trust Inc. lifted 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 valued at $32,000 after purchasing an additional 267 shares during the period. Quadrant Capital Group LLC lifted its holdings in shares of Valvoline by 23.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,940 shares of the basic materials company’s stock valued at $73,000 after buying an additional 364 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Valvoline by 2.0% in the second quarter. Victory Capital Management Inc. now owns 27,158 shares of the basic materials company’s stock worth $1,173,000 after buying an additional 537 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its stake in shares of Valvoline by 1.2% in the second quarter. Linden Thomas Advisory Services LLC now owns 46,713 shares of the basic materials company’s stock worth $2,018,000 after buying an additional 541 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in Valvoline by 1.6% during the second quarter. Arizona State Retirement System now owns 34,481 shares of the basic materials company’s stock worth $1,490,000 after acquiring an additional 544 shares during the period. 96.13% of the stock is owned by hedge funds and other institutional investors.

Valvoline Stock Up 2.3 %

VVV stock opened at $39.76 on Thursday. Valvoline Inc. has a 52 week low of $29.15 and a 52 week high of $48.26. The company has a quick ratio of 0.62, a current ratio of 0.73 and a debt-to-equity ratio of 10.57. The firm has a 50-day simple moving average of $42.78 and a 200-day simple moving average of $42.57. The stock has a market capitalization of $5.12 billion, a P/E ratio of 31.56 and a beta of 1.45.

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). The firm had revenue of $421.00 million for the quarter, compared to analysts’ expectations of $425.17 million. Valvoline had a return on equity of 182.88% and a net margin of 10.45%. Valvoline’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.43 earnings per share. Equities analysts forecast that Valvoline Inc. will post 1.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Royal Bank of Canada decreased their price target on Valvoline from $54.00 to $48.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Piper Sandler began coverage on shares of Valvoline in a report on Wednesday, June 12th. They set an “overweight” rating and a $49.00 price target on the stock. Citigroup lifted 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. Baird R W raised shares of Valvoline to a “strong-buy” rating in a research note on Thursday, August 15th. Finally, Wells Fargo & Company cut their price target on Valvoline from $50.00 to $46.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.57.

About Valvoline

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.