MAI Capital Management Has $486,000 Stock Position in Valvoline Inc. (NYSE:VVV)

MAI Capital Management boosted its stake in shares of Valvoline Inc. (NYSE:VVV) by 2.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,624 shares of the basic materials company’s stock after purchasing an additional 268 shares during the quarter. MAI Capital Management’s holdings in Valvoline were worth $486,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Sculptor Capital LP increased its holdings in shares of Valvoline by 187.6% during the 2nd quarter. Sculptor Capital LP now owns 1,879,500 shares of the basic materials company’s stock worth $81,194,000 after purchasing an additional 1,226,000 shares during the period. Geneva Capital Management LLC bought a new position in Valvoline during the third quarter valued at about $32,670,000. Fiera Capital Corp acquired a new position in Valvoline in the 3rd quarter valued at approximately $25,538,000. F M Investments LLC bought a new stake in shares of Valvoline in the 2nd quarter worth approximately $11,992,000. Finally, Hantz Financial Services Inc. acquired a new stake in shares of Valvoline during the 2nd quarter worth approximately $9,974,000. 96.13% of the stock is currently owned by institutional investors and hedge funds.

Valvoline Stock Performance

NYSE:VVV opened at $38.57 on Friday. The stock has a market capitalization of $4.97 billion, a P/E ratio of 23.81 and a beta of 1.46. The company has a current ratio of 0.72, a quick ratio of 0.62 and a debt-to-equity ratio of 5.77. Valvoline Inc. has a 1 year low of $33.86 and a 1 year high of $48.26. The firm has a 50 day moving average of $41.33 and a 200-day moving average of $41.91.

Valvoline declared that its Board of Directors has initiated a stock buyback plan on Tuesday, July 30th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the basic materials company to buy up to 7.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on VVV. Mizuho cut their target price on Valvoline from $50.00 to $46.00 and set an “outperform” rating for the company in a research note on Wednesday. Morgan Stanley reduced their price objective on shares of Valvoline from $46.00 to $42.00 and set an “overweight” rating for the company in a report on Wednesday. Stephens began coverage on shares of Valvoline in a research report on Tuesday, October 15th. They issued an “overweight” rating and a $49.00 price target for the company. Robert W. Baird cut their price target on shares of Valvoline from $48.00 to $46.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Baird R W upgraded Valvoline to a “strong-buy” rating in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Valvoline presently has a consensus rating of “Buy” and an average target price of $46.25.

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.