Valvoline Inc (NYSE:VVV) saw a significant drop in short interest in the month of June. As of June 30th, there was short interest totalling 6,113,400 shares, a drop of 6.6% from the May 30th total of 6,543,700 shares. Currently, 3.3% of the shares of the stock are short sold. Based on an average trading volume of 1,160,000 shares, the days-to-cover ratio is presently 5.3 days.
A number of institutional investors have recently bought and sold shares of VVV. Meridian Wealth Management LLC purchased a new stake in Valvoline during the 1st quarter worth about $25,000. Quadrant Capital Group LLC increased its position in Valvoline by 958.3% during the 1st quarter. Quadrant Capital Group LLC now owns 1,524 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 1,380 shares in the last quarter. Claybrook Capital LLC purchased a new stake in Valvoline during the 4th quarter worth about $36,000. Hilton Capital Management LLC purchased a new stake in Valvoline during the 1st quarter worth about $56,000. Finally, Advisor Group Inc. increased its position in Valvoline by 19.5% during the 4th quarter. Advisor Group Inc. now owns 3,511 shares of the basic materials company’s stock worth $68,000 after purchasing an additional 572 shares in the last quarter. Hedge funds and other institutional investors own 96.78% of the company’s stock.
A number of equities research analysts have commented on VVV shares. Buckingham Research set a $77.00 target price on MSC Industrial Direct and gave the company a “hold” rating in a report on Monday, July 1st. Morgan Stanley raised their target price on Zynga and gave the company an “overweight” rating in a report on Thursday, May 2nd. Zacks Investment Research downgraded Hammerson from a “hold” rating to a “sell” rating in a report on Friday, May 24th. Finally, Monness Crespi & Hardt reissued a “buy” rating and issued a $97.00 target price (up previously from $95.00) on shares of Fortinet in a report on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $22.63.
Valvoline (NYSE:VVV) last announced its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The business had revenue of $591.00 million during the quarter, compared to analysts’ expectations of $596.71 million. Valvoline had a negative return on equity of 76.15% and a net margin of 9.70%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the business posted $0.34 earnings per share. Equities analysts anticipate that Valvoline will post 1.31 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were given a dividend of $0.106 per share. This represents a $0.42 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Thursday, May 30th. Valvoline’s dividend payout ratio is presently 32.56%.
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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