Assetmark Inc. Invests $919,000 in Valvoline Inc. (NYSE:VVV)

Assetmark Inc. purchased a new stake in shares of Valvoline Inc. (NYSE:VVV) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 21,962 shares of the basic materials company’s stock, valued at approximately $919,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its position in shares of Valvoline by 92.1% in the 3rd quarter. UMB Bank n.a. now owns 630 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 302 shares during the period. Blue Trust Inc. increased its position in Valvoline by 57.9% during the second quarter. Blue Trust Inc. now owns 728 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 267 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Valvoline during the second quarter valued at about $34,000. Mather Group LLC. boosted its stake in shares of Valvoline by 1,617.0% in the second quarter. Mather Group LLC. now owns 807 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 760 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Valvoline by 46.5% in the third quarter. GAMMA Investing LLC now owns 1,465 shares of the basic materials company’s stock worth $61,000 after acquiring an additional 465 shares during the last quarter. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Valvoline Stock Down 1.3 %

Shares of VVV stock opened at $42.29 on Friday. The stock’s fifty day moving average price is $41.31 and its 200 day moving average price is $42.04. Valvoline Inc. has a 1-year low of $33.86 and a 1-year high of $48.26. The company has a debt-to-equity ratio of 10.57, a current ratio of 0.73 and a quick ratio of 0.62. The company has a market cap of $5.45 billion, a price-to-earnings ratio of 34.38 and a beta of 1.46.

Valvoline announced that its Board of Directors has authorized a share buyback plan on Tuesday, July 30th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the basic materials company to reacquire up to 7.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on VVV. Royal Bank of Canada dropped their price target on Valvoline from $54.00 to $48.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Robert W. Baird began coverage on Valvoline in a research note on Thursday, August 15th. They set an “outperform” rating and a $48.00 price objective for the company. Wells Fargo & Company cut their price objective on Valvoline from $50.00 to $46.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Citigroup upped their target price on Valvoline from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Finally, Baird R W raised Valvoline to a “strong-buy” rating in a report on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.