Valvoline $VVV Holdings Cut by Sterling Capital Management LLC

Sterling Capital Management LLC trimmed its position in Valvoline (NYSE:VVV) by 95.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,153 shares of the basic materials company’s stock after selling 41,586 shares during the period. Sterling Capital Management LLC’s holdings in Valvoline were worth $65,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Isthmus Partners LLC grew its holdings in shares of Valvoline by 3.1% during the third quarter. Isthmus Partners LLC now owns 12,197 shares of the basic materials company’s stock worth $368,000 after purchasing an additional 361 shares in the last quarter. GAMMA Investing LLC grew its stake in Valvoline by 39.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,435 shares of the basic materials company’s stock worth $57,000 after buying an additional 409 shares in the last quarter. Baird Financial Group Inc. grew its stake in Valvoline by 1.4% in the 2nd quarter. Baird Financial Group Inc. now owns 30,836 shares of the basic materials company’s stock worth $1,219,000 after buying an additional 432 shares in the last quarter. Allworth Financial LP grew its stake in Valvoline by 9.5% in the 2nd quarter. Allworth Financial LP now owns 5,453 shares of the basic materials company’s stock worth $216,000 after buying an additional 475 shares in the last quarter. Finally, State of Michigan Retirement System increased its holdings in shares of Valvoline by 2.0% in the 1st quarter. State of Michigan Retirement System now owns 30,615 shares of the basic materials company’s stock worth $1,031,000 after buying an additional 600 shares during the last quarter. 96.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Valvoline

In other Valvoline news, insider Julie O’Daniel sold 3,700 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $33.81, for a total value of $125,097.00. Following the completion of the transaction, the insider owned 14,279 shares in the company, valued at approximately $482,772.99. This represents a 20.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jordan Denny acquired 1,506 shares of the stock in a transaction on Wednesday, August 12th. The shares were purchased at an average cost of $33.20 per share, with a total value of $49,999.20. Following the transaction, the chief accounting officer directly owned 4,121 shares of the company’s stock, valued at approximately $136,817.20. This trade represents a 57.59% increase in their position. The SEC filing for this purchase provides additional information. 0.66% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on VVV shares. Piper Sandler restated an “overweight” rating and set a $44.00 price objective on shares of Valvoline in a research report on Wednesday, July 29th. UBS Group set a $40.00 target price on shares of Valvoline in a research report on Wednesday, October 14th. Benchmark started coverage on Valvoline in a research note on Wednesday, August 19th. They issued a “buy” rating and a $48.00 target price on the stock. Weiss Ratings upgraded Valvoline from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. Finally, TD Cowen dropped their price target on Valvoline from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, October 14th. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Valvoline has a consensus rating of “Moderate Buy” and an average target price of $41.17.

Valvoline Price Performance

Shares of Valvoline stock opened at $33.83 on Wednesday. The business has a 50 day moving average of $30.68 and a 200 day moving average of $34.36. Valvoline has a 52 week low of $26.21 and a 52 week high of $41.08. The company has a market cap of $4.32 billion, a PE ratio of 42.29 and a beta of 1.01. The company has a quick ratio of 0.58, a current ratio of 0.70 and a debt-to-equity ratio of 3.77.

Valvoline (NYSE:VVV) last released its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.07. Valvoline had a net margin of 5.17% and a return on equity of 65.12%. The business had revenue of $544.60 million for the quarter, compared to analysts’ expectations of $543.21 million. During the same quarter in the previous year, the business posted $0.47 earnings per share. The firm’s revenue for the quarter was up 24.1% compared to the same quarter last year. As a group, equities research analysts forecast that Valvoline will post 1.76 earnings per share for the current year.

Valvoline declared that its Board of Directors has authorized a share buyback plan on Tuesday, September 29th that allows the company to repurchase $175 million in outstanding shares. This buyback authorization allows the basic materials company to purchase up to 4.8% of its shares through open market purchases. Share buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Valvoline Company Profile

Valvoline Inc (NYSE: VVV) is an automotive maintenance services company that operates and franchises Valvoline Instant Oil Change service centers. Its locations provide preventive vehicle maintenance designed to help drivers keep their cars operating reliably and extend the useful life of key components.

The company’s services include oil changes, fluid replacement and top-offs, battery testing and replacement, air-conditioning services, tire rotation, tire services, and replacement of filters, wiper blades, and other routine maintenance items.