State of New Jersey Common Pension Fund D Raises Position in Valvoline Inc. (NYSE:VVV)

State of New Jersey Common Pension Fund D boosted its stake in Valvoline Inc. (NYSE:VVV) by 0.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,602 shares of the basic materials company’s stock after buying an additional 313 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Valvoline were worth $1,992,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Blue Trust Inc. lifted its holdings in Valvoline by 57.9% in the second quarter. Blue Trust Inc. now owns 728 shares of the basic materials company’s stock worth $32,000 after buying an additional 267 shares during the period. UMB Bank n.a. increased its stake in shares of Valvoline by 92.1% during the third quarter. UMB Bank n.a. now owns 630 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 302 shares in the last quarter. Evergreen Capital Management LLC increased its stake in shares of Valvoline by 6.1% during the second quarter. Evergreen Capital Management LLC now owns 6,292 shares of the basic materials company’s stock valued at $272,000 after purchasing an additional 359 shares in the last quarter. Park Place Capital Corp increased its stake in shares of Valvoline by 29.3% during the third quarter. Park Place Capital Corp now owns 1,608 shares of the basic materials company’s stock valued at $67,000 after purchasing an additional 364 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Valvoline by 46.5% during the third quarter. GAMMA Investing LLC now owns 1,465 shares of the basic materials company’s stock valued at $61,000 after purchasing an additional 465 shares in the last quarter. 96.13% of the stock is currently owned by hedge funds and other institutional investors.

Valvoline Trading Down 1.3 %

Shares of VVV stock opened at $42.32 on Friday. Valvoline Inc. has a 12-month low of $33.86 and a 12-month high of $48.26. The company has a current ratio of 0.73, a quick ratio of 0.62 and a debt-to-equity ratio of 10.57. The firm’s 50 day moving average is $41.37 and its 200 day moving average is $42.03. The stock has a market capitalization of $5.45 billion, a P/E ratio of 34.41 and a beta of 1.46.

Valvoline announced that its Board of Directors has initiated a stock buyback program on Tuesday, July 30th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to buy up to 7.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

VVV has been the subject of a number of analyst reports. Royal Bank of Canada decreased their target price on shares of Valvoline from $54.00 to $48.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Wells Fargo & Company decreased their target price 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. Stephens started coverage on shares of Valvoline in a research note on Tuesday, October 15th. They set an “overweight” rating and a $49.00 target price for the company. Robert W. Baird started coverage on shares of Valvoline in a research report on Thursday, August 15th. They set an “outperform” rating and a $48.00 price target for the company. Finally, Baird R W raised shares of Valvoline to a “strong-buy” rating in a research report on Thursday, August 15th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $47.75.

Valvoline Company 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.