Valvoline Inc. (NYSE:VVV) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its stake in shares of Valvoline Inc. (NYSE:VVV) by 21.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 232,470 shares of the basic materials company’s stock after selling 64,778 shares during the quarter. Envestnet Asset Management Inc. owned 0.18% of Valvoline worth $10,043,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. lifted 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 worth $32,000 after acquiring an additional 267 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Valvoline during the second quarter worth $34,000. Mather Group LLC. grew its stake in shares of Valvoline by 1,617.0% during the second quarter. Mather Group LLC. now owns 807 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 760 shares in the last quarter. Park Place Capital Corp increased its holdings in Valvoline by 176.9% in the first quarter. Park Place Capital Corp now owns 1,886 shares of the basic materials company’s stock valued at $84,000 after buying an additional 1,205 shares during the last quarter. Finally, YHB Investment Advisors Inc. acquired a new stake in Valvoline in the first quarter valued at $106,000. 96.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on VVV. Baird R W raised Valvoline to a “strong-buy” rating in a report on Thursday, August 15th. Piper Sandler assumed coverage on shares of Valvoline in a research note on Wednesday, June 12th. They set an “overweight” rating and a $49.00 price target on the stock. 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. Robert W. Baird began coverage on Valvoline in a research report on Thursday, August 15th. They set an “outperform” rating and a $48.00 target price on the stock. Finally, Wells Fargo & Company cut their price target on Valvoline from $50.00 to $46.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Two 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 a consensus target price of $47.57.

Valvoline Stock Up 1.2 %

Shares of NYSE:VVV opened at $42.46 on Friday. Valvoline Inc. has a fifty-two week low of $29.15 and a fifty-two week 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’s 50-day simple moving average is $42.03 and its 200-day simple moving average is $42.44. The company has a market cap of $5.47 billion, a price-to-earnings ratio of 33.69 and a beta of 1.45.

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

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

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.