Aigen Investment Management LP Takes $236,000 Position in Valvoline Inc. (NYSE:VVV)

Aigen Investment Management LP purchased a new stake in Valvoline Inc. (NYSE:VVV) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 5,651 shares of the basic materials company’s stock, valued at approximately $236,000.

A number of other large investors have also recently bought and sold shares of VVV. Congress Asset Management Co. raised its stake in shares of Valvoline by 2.8% during the third quarter. Congress Asset Management Co. now owns 3,656,672 shares of the basic materials company’s stock worth $153,032,000 after purchasing an additional 100,305 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Valvoline by 3.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,720,748 shares of the basic materials company’s stock worth $117,534,000 after buying an additional 94,673 shares during the last quarter. Sculptor Capital LP lifted its stake in shares of Valvoline by 187.6% in the 2nd quarter. Sculptor Capital LP now owns 1,879,500 shares of the basic materials company’s stock worth $81,194,000 after acquiring an additional 1,226,000 shares during the period. Vaughan Nelson Investment Management L.P. boosted 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 acquiring an additional 68,340 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its stake in shares of Valvoline by 30.1% during the second quarter. D. E. Shaw & Co. Inc. now owns 828,403 shares of the basic materials company’s stock worth $35,787,000 after acquiring an additional 191,504 shares during the period. Institutional investors and hedge funds own 96.13% of the company’s stock.

Valvoline Stock Down 1.3 %

VVV opened at $42.32 on Friday. The business’s fifty day simple moving average is $41.37 and its 200 day simple moving average is $42.03. Valvoline Inc. has a 52 week low of $33.86 and a 52 week high of $48.26. The firm has a market cap of $5.45 billion, a P/E ratio of 34.41 and a beta of 1.46. The company has a quick ratio of 0.62, a current ratio of 0.73 and a debt-to-equity ratio of 10.57.

Valvoline announced that its Board of Directors has approved a share repurchase program on Tuesday, July 30th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the basic materials company to purchase up to 7.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on VVV shares. Wells Fargo & Company reduced their price objective on shares of Valvoline from $50.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Baird R W raised Valvoline to a “strong-buy” rating in a report on Thursday, August 15th. Robert W. Baird initiated coverage on Valvoline in a report on Thursday, August 15th. They set an “outperform” rating and a $48.00 price objective on the stock. Royal Bank of Canada reduced their target price on Valvoline from $54.00 to $48.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Stephens initiated coverage on shares of Valvoline in a research note on Tuesday, October 15th. They set an “overweight” rating and a $49.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.75.

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.