Amalgamated Bank Has $3.56 Million Holdings in Valvoline Inc. (NYSE:VVV)

Amalgamated Bank grew its holdings in Valvoline Inc. (NYSE:VVV) by 16.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 82,464 shares of the basic materials company’s stock after purchasing an additional 11,581 shares during the quarter. Amalgamated Bank’s holdings in Valvoline were worth $3,562,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Mercer Global Advisors Inc. ADV boosted its stake in Valvoline by 30.6% in the second quarter. Mercer Global Advisors Inc. ADV now owns 12,876 shares of the basic materials company’s stock valued at $556,000 after acquiring an additional 3,018 shares during the last quarter. Bradley Foster & Sargent Inc. CT lifted its stake in shares of Valvoline by 7.8% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 8,314 shares of the basic materials company’s stock valued at $359,000 after purchasing an additional 602 shares during the period. Mutual of America Capital Management LLC boosted its position in shares of Valvoline by 4.0% in the 2nd quarter. Mutual of America Capital Management LLC now owns 142,118 shares of the basic materials company’s stock worth $6,139,000 after purchasing an additional 5,442 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Valvoline by 3.6% in 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 purchasing an additional 94,673 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its stake in shares of Valvoline by 28.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 126,232 shares of the basic materials company’s stock worth $5,453,000 after purchasing an additional 28,254 shares during the period. Institutional investors and hedge funds own 96.13% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on VVV. Citigroup increased their target price on Valvoline from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Robert W. Baird began coverage on shares of Valvoline in a research note on Thursday, August 15th. They set an “outperform” rating and a $48.00 price objective on the stock. Baird R W raised shares of Valvoline to a “strong-buy” rating in a research note on Thursday, August 15th. Royal Bank of Canada reduced their price target on shares of Valvoline from $54.00 to $48.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Piper Sandler assumed coverage on shares of Valvoline in a report on Wednesday, June 12th. They issued an “overweight” rating and a $49.00 price target for the company. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $47.57.

Valvoline Stock Down 0.9 %

Shares of VVV stock opened at $41.21 on Monday. Valvoline Inc. has a 12-month low of $29.15 and a 12-month 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 fifty day moving average of $42.34 and a 200-day moving average of $42.47. The company has a market capitalization of $5.31 billion, a price-to-earnings ratio of 32.71 and a beta of 1.45.

Valvoline (NYSE:VVV) last released its 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 for 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 for the quarter was up 11.9% on a year-over-year basis. During the same quarter last year, the company posted $0.43 EPS. As a group, equities research analysts predict that Valvoline Inc. will post 1.53 earnings per share for the current fiscal year.

Valvoline announced that its board has approved a stock buyback plan on Tuesday, July 30th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the basic materials company to buy up to 7.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

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.