Public Employees Retirement System of Ohio Has $2.07 Million Stake in Valvoline Inc (VVV)
Public Employees Retirement System of Ohio lowered its stake in Valvoline Inc (NYSE:VVV) by 3.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 88,413 shares of the basic materials company’s stock after selling 2,782 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Valvoline were worth $2,073,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. California Public Employees Retirement System lifted its stake in shares of Valvoline by 1.6% in the 3rd quarter. California Public Employees Retirement System now owns 374,500 shares of the basic materials company’s stock valued at $8,782,000 after purchasing an additional 6,000 shares during the period. Patten Group Inc. lifted its stake in shares of Valvoline by 900.3% in the 3rd quarter. Patten Group Inc. now owns 98,831 shares of the basic materials company’s stock valued at $1,341,000 after purchasing an additional 88,951 shares during the period. Zions Bancorporation lifted its stake in shares of Valvoline by 70.4% in the 3rd quarter. Zions Bancorporation now owns 11,907 shares of the basic materials company’s stock valued at $279,000 after purchasing an additional 4,918 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Valvoline by 17.2% in the 3rd quarter. Janus Henderson Group PLC now owns 5,875,735 shares of the basic materials company’s stock valued at $137,784,000 after purchasing an additional 860,388 shares during the period. Finally, Engineers Gate Manager LP lifted its stake in shares of Valvoline by 109.5% in the 3rd quarter. Engineers Gate Manager LP now owns 104,331 shares of the basic materials company’s stock valued at $2,447,000 after purchasing an additional 54,522 shares during the period. 92.43% of the stock is currently owned by institutional investors.
A number of research analysts have recently weighed in on VVV shares. Morgan Stanley increased their price target on Valvoline from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Friday, November 10th. Zacks Investment Research raised Valvoline from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Saturday, October 21st. Seaport Global Securities downgraded Valvoline from a “buy” rating to a “neutral” rating and set a $26.00 price objective on the stock. in a research note on Wednesday, November 22nd. SunTrust Banks reaffirmed a “hold” rating and set a $25.00 price objective on shares of Valvoline in a research note on Friday, November 10th. Finally, ValuEngine downgraded Valvoline from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Valvoline presently has an average rating of “Hold” and a consensus target price of $25.88.
Valvoline (NYSE:VVV) last issued its quarterly earnings data on Wednesday, November 8th. The basic materials company reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.01). The business had revenue of $547.00 million for the quarter, compared to analyst estimates of $528.14 million. Valvoline had a negative return on equity of 137.91% and a net margin of 14.59%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.35 EPS. analysts expect that Valvoline Inc will post 1.3 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were paid a dividend of $0.0745 per share. This represents a $0.30 annualized dividend and a yield of 1.19%. The ex-dividend date was Thursday, November 30th. This is an increase from Valvoline’s previous quarterly dividend of $0.05. Valvoline’s dividend payout ratio (DPR) is presently 20.13%.
In other Valvoline news, insider Anthony R. Puckett sold 4,294 shares of the stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $24.33, for a total transaction of $104,473.02. Following the completion of the transaction, the insider now owns 6,192 shares in the company, valued at approximately $150,651.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Thomas A. Gerrald II sold 3,800 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $24.61, for a total value of $93,518.00. Following the transaction, the senior vice president now owns 77 shares of the company’s stock, valued at approximately $1,894.97. The disclosure for this sale can be found here. Company insiders own 0.59% of the company’s stock.
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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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