Oregon Public Employees Retirement Fund Sells 3,774 Shares of Valvoline Inc (VVV)
Oregon Public Employees Retirement Fund lessened its holdings in shares of Valvoline Inc (NYSE:VVV) by 4.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 76,031 shares of the basic materials company’s stock after selling 3,774 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Valvoline were worth $1,471,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Dean Investment Associates LLC bought a new position in Valvoline during the fourth quarter valued at approximately $5,016,000. WINTON GROUP Ltd raised its position in Valvoline by 1.5% during the fourth quarter. WINTON GROUP Ltd now owns 515,864 shares of the basic materials company’s stock valued at $9,982,000 after acquiring an additional 7,428 shares in the last quarter. Victory Capital Management Inc. raised its position in Valvoline by 5.5% during the fourth quarter. Victory Capital Management Inc. now owns 3,314,145 shares of the basic materials company’s stock valued at $64,129,000 after acquiring an additional 171,775 shares in the last quarter. Newport Trust Co raised its position in Valvoline by 1.2% during the fourth quarter. Newport Trust Co now owns 3,330,092 shares of the basic materials company’s stock valued at $64,437,000 after acquiring an additional 38,140 shares in the last quarter. Finally, Chartwell Investment Partners LLC raised its position in Valvoline by 19.3% during the fourth quarter. Chartwell Investment Partners LLC now owns 242,076 shares of the basic materials company’s stock valued at $4,684,000 after acquiring an additional 39,090 shares in the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.
VVV has been the topic of a number of recent analyst reports. Bank of America lowered shares of Valvoline from a “buy” rating to an “underperform” rating and dropped their price target for the company from $24.00 to $20.00 in a research report on Tuesday, November 6th. Zacks Investment Research raised shares of Valvoline from a “sell” rating to a “hold” rating in a research report on Saturday, January 12th. ValuEngine raised shares of Valvoline from a “sell” rating to a “hold” rating in a research report on Monday, November 26th. Citigroup set a $22.00 price target on shares of Valvoline and gave the company a “buy” rating in a research report on Thursday, November 8th. Finally, Wolfe Research lowered shares of Valvoline from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 7th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $23.29.
Valvoline (NYSE:VVV) last released its quarterly earnings results on Wednesday, February 6th. The basic materials company reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.04). Valvoline had a net margin of 9.97% and a negative return on equity of 80.99%. The firm had revenue of $557.00 million during the quarter, compared to the consensus estimate of $584.75 million. During the same period in the prior year, the business earned $0.29 EPS. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, research analysts expect that Valvoline Inc will post 1.37 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be paid a $0.106 dividend. The ex-dividend date of this dividend is Thursday, February 28th. This represents a $0.42 annualized dividend and a dividend yield of 2.30%. Valvoline’s payout ratio is 32.56%.
In other news, insider Anthony R. Puckett sold 2,588 shares of the firm’s stock in a transaction on Monday, November 19th. The shares were sold at an average price of $20.32, for a total value of $52,588.16. Following the sale, the insider now owns 3,298 shares in the company, valued at $67,015.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Julie Marie O’daniel sold 1,466 shares of the firm’s stock in a transaction on Wednesday, January 16th. The stock was sold at an average price of $21.00, for a total transaction of $30,786.00. Following the completion of the sale, the insider now owns 2,683 shares in the company, valued at approximately $56,343. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,821 shares of company stock worth $206,284. 0.49% of the stock is currently owned by corporate insiders.
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Valvoline Company Profile
Valvoline Inc manufactures and markets engine and automotive maintenance products and services. It operates through three segments: Core North America, Quick Lubes, and International. The company offers lubricants for passenger car, light duty, and heavy duty; antifreeze/coolants for original equipment manufacturers; functional and maintenance chemicals, such as brake fluids and power steering fluids, as well as specialty coatings for automotive and industrial applications comprising rust prevention and sound absorption; and oil and air filters for light-duty vehicles.
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