Valvoline’s (NYSE:VVV) lock-up period is set to expire on Wednesday, March 22nd. Valvoline had issued 30,000,000 shares in its initial public offering on September 23rd. The total size of the offering was $660,000,000 based on an initial share price of $22.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the end of the lock-up period.
Several research analysts have issued reports on the stock. Seaport Global Securities cut shares of Valvoline from a “buy” rating to a “neutral” rating and set a $25.00 target price for the company. in a report on Tuesday, January 31st. Monness Crespi & Hardt lifted their target price on shares of Valvoline from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, January 30th. Zacks Investment Research raised shares of Valvoline from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a report on Friday, January 27th. Finally, Longbow Research raised shares of Valvoline from a “neutral” rating to a “buy” rating and set a $26.00 target price for the company in a report on Friday, December 2nd. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $26.00.
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Valvoline (NYSE:VVV) opened at 23.70 on Tuesday. The stock’s 50 day moving average is $23.04 and its 200 day moving average is $21.95. Valvoline has a 12-month low of $18.30 and a 12-month high of $24.98. The stock has a market capitalization of $4.85 billion and a PE ratio of 17.43.
Valvoline (NYSE:VVV) last posted its quarterly earnings results on Thursday, January 26th. The company reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.05. The company earned $489 million during the quarter, compared to analysts’ expectations of $473.95 million. The firm’s revenue was up 7.2% on a year-over-year basis. Equities analysts anticipate that Valvoline will post $1.38 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st were issued a dividend of $0.049 per share. This represents a $0.20 annualized dividend and a yield of 0.83%. The ex-dividend date was Monday, February 27th.
In other Valvoline news, Director Stephen F. Kirk bought 6,900 shares of the company’s stock in a transaction on Monday, February 6th. The shares were bought at an average cost of $23.06 per share, for a total transaction of $159,114.00. Following the acquisition, the director now directly owns 11,837 shares in the company, valued at $272,961.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.07% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. RidgeWorth Capital Management LLC boosted its position in shares of Valvoline by 119.9% in the fourth quarter. RidgeWorth Capital Management LLC now owns 2,190,200 shares of the company’s stock valued at $47,089,000 after buying an additional 1,194,300 shares during the last quarter. Janus Capital Management LLC boosted its position in shares of Valvoline by 709.7% in the fourth quarter. Janus Capital Management LLC now owns 1,702,242 shares of the company’s stock valued at $36,598,000 after buying an additional 1,492,001 shares during the last quarter. Cardinal Capital Management LLC CT boosted its position in shares of Valvoline by 15,260.4% in the fourth quarter. Cardinal Capital Management LLC CT now owns 1,536,043 shares of the company’s stock valued at $33,025,000 after buying an additional 1,526,043 shares during the last quarter. OZ Management LP acquired a new position in shares of Valvoline during the third quarter valued at about $29,492,000. Finally, Lazard Asset Management LLC acquired a new position in shares of Valvoline during the third quarter valued at about $29,145,000. Institutional investors own 18.50% of the company’s stock.
Valvoline Inc (Valvoline) is engaged in the production and distribution of automotive, commercial and industrial lubricants, and automotive chemicals. The Company operates through three segments: Core North America, Quick Lubes and International. The Core North America segment sells Valvoline, and other branded and private label products in the United States and Canada to both consumers performing their own automotive maintenance, referred to as Do-It-Yourself (DIY) consumers, as well as, to installer customers using Valvoline products to service vehicles owned by Do-It-For-Me (DIFM) consumers.
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