State of New Jersey Common Pension Fund D Sells 22,640 Shares of Valvoline Inc. (NYSE:VVV)

State of New Jersey Common Pension Fund D lowered its position in Valvoline Inc. (NYSE:VVV) by 32.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 47,289 shares of the basic materials company’s stock after selling 22,640 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Valvoline were worth $2,043,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in VVV. Blue Trust Inc. raised its stake in Valvoline by 57.9% in 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 in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Valvoline during the 2nd quarter valued at $34,000. Mather Group LLC. lifted its holdings in shares of Valvoline by 1,617.0% during the 2nd quarter. Mather Group LLC. now owns 807 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 760 shares during the last quarter. Principal Securities Inc. bought a new stake in shares of Valvoline during the 4th quarter worth $39,000. Finally, Quadrant Capital Group LLC grew its position in Valvoline by 23.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,940 shares of the basic materials company’s stock worth $73,000 after acquiring an additional 364 shares in the last quarter. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Valvoline Stock Down 1.0 %

Shares of Valvoline stock opened at $41.20 on Friday. The company has a debt-to-equity ratio of 10.57, a quick ratio of 0.62 and a current ratio of 0.73. Valvoline Inc. has a 52-week low of $29.15 and a 52-week high of $48.26. The company’s 50 day moving average price is $42.34 and its 200-day moving average price is $42.49. The stock has a market capitalization of $5.31 billion, a price-to-earnings ratio of 32.70 and a beta of 1.45.

Valvoline (NYSE:VVV) last announced its quarterly earnings results on Wednesday, August 7th. The basic materials company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). The firm had revenue of $421.00 million during the quarter, compared to the consensus estimate of $425.17 million. Valvoline had a return on equity of 182.88% and a net margin of 10.45%. Valvoline’s revenue was up 11.9% on a year-over-year basis. During the same period last year, the business earned $0.43 EPS. Equities research analysts forecast that Valvoline Inc. will post 1.53 EPS for the current year.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on VVV. Robert W. Baird started coverage on Valvoline in a research note on Thursday, August 15th. They set an “outperform” rating and a $48.00 price target for the company. Wells Fargo & Company dropped their target price on Valvoline from $50.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Royal Bank of Canada cut their target price on Valvoline from $54.00 to $48.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Baird R W raised shares of Valvoline to a “strong-buy” rating in a research note on Thursday, August 15th. Finally, Citigroup upped their price objective on shares of Valvoline from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $47.57.

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.