California Public Employees Retirement System Boosts Position in Valvoline Inc. (VVV)
California Public Employees Retirement System boosted its position in shares of Valvoline Inc. (NYSE:VVV) by 2,030.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 368,500 shares of the basic materials company’s stock after acquiring an additional 351,200 shares during the quarter. California Public Employees Retirement System owned 0.18% of Valvoline worth $8,741,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Symphony Asset Management LLC increased its position in Valvoline by 22.8% during the second quarter. Symphony Asset Management LLC now owns 41,807 shares of the basic materials company’s stock valued at $991,000 after acquiring an additional 7,755 shares during the last quarter. Bank of New York Mellon Corp increased its position in Valvoline by 11.8% during the first quarter. Bank of New York Mellon Corp now owns 132,166 shares of the basic materials company’s stock valued at $3,245,000 after acquiring an additional 13,938 shares during the last quarter. M&T Bank Corp purchased a new stake in Valvoline during the first quarter valued at $203,000. JPMorgan Chase & Co. increased its position in Valvoline by 23.3% during the second quarter. JPMorgan Chase & Co. now owns 3,176,653 shares of the basic materials company’s stock valued at $75,351,000 after acquiring an additional 600,060 shares during the last quarter. Finally, Pacer Advisors Inc. increased its position in Valvoline by 630.1% during the first quarter. Pacer Advisors Inc. now owns 5,571 shares of the basic materials company’s stock valued at $137,000 after acquiring an additional 4,808 shares during the last quarter. Institutional investors own 92.34% of the company’s stock.
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Shares of Valvoline Inc. (VVV) opened at 24.15 on Tuesday. The stock has a market cap of $4.89 billion and a PE ratio of 21.15. Valvoline Inc. has a 52-week low of $18.30 and a 52-week high of $24.98. The company’s 50-day moving average price is $23.18 and its 200-day moving average price is $23.18.
Valvoline (NYSE:VVV) last issued its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.01). The company had revenue of $534.00 million during the quarter, compared to analyst estimates of $530.57 million. Valvoline had a net margin of 13.00% and a negative return on equity of 106.06%. Valvoline’s revenue was up 7.0% on a year-over-year basis. On average, equities research analysts forecast that Valvoline Inc. will post $1.37 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a $0.049 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.20 annualized dividend and a dividend yield of 0.81%. Valvoline’s dividend payout ratio (DPR) is presently 15.50%.
A number of analysts recently commented on the company. Zacks Investment Research cut Valvoline from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. J P Morgan Chase & Co reiterated a “neutral” rating and set a $22.00 price objective (up previously from $20.00) on shares of Valvoline in a research report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. Valvoline presently has an average rating of “Hold” and a consensus price target of $25.40.
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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