Scopus Asset Management L.P. grew its stake in Valvoline Inc. (NYSE:VVV) by 0.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 502,164 shares of the basic materials company’s stock after purchasing an additional 2,624 shares during the period. Scopus Asset Management L.P. owned approximately 0.28% of Valvoline worth $13,091,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Captrust Financial Advisors grew its stake in shares of Valvoline by 39.8% in the 1st quarter. Captrust Financial Advisors now owns 3,462 shares of the basic materials company’s stock valued at $90,000 after purchasing an additional 985 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in Valvoline during the 1st quarter worth approximately $204,000. Moneta Group Investment Advisors LLC bought a new stake in Valvoline during the 1st quarter worth approximately $204,000. Greenleaf Trust bought a new stake in Valvoline during the 1st quarter worth approximately $209,000. Finally, Signaturefd LLC grew its position in Valvoline by 559.5% during the 1st quarter. Signaturefd LLC now owns 8,039 shares of the basic materials company’s stock worth $210,000 after acquiring an additional 6,820 shares during the last quarter. Institutional investors own 96.85% of the company’s stock.
NYSE:VVV traded down $0.49 during trading hours on Thursday, hitting $30.06. 10,756 shares of the stock were exchanged, compared to its average volume of 821,244. The company’s 50 day moving average is $32.54. Valvoline Inc. has a twelve month low of $18.34 and a twelve month high of $34.65. The firm has a market capitalization of $5.44 billion, a P/E ratio of 16.79 and a beta of 1.45.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 15th. Stockholders of record on Monday, August 30th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Friday, August 27th. Valvoline’s dividend payout ratio (DPR) is currently 33.78%.
A number of research firms recently commented on VVV. Zacks Investment Research lowered Valvoline from a “buy” rating to a “sell” rating in a research report on Wednesday. Truist increased their price target on Valvoline from $25.00 to $26.00 in a research report on Friday, April 30th. Monness Crespi & Hardt increased their price target on Valvoline from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, April 29th. Truist Securities increased their price target on Valvoline from $25.00 to $26.00 in a research report on Friday, April 30th. Finally, Morgan Stanley increased their price target on Valvoline from $25.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Friday, April 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $31.67.
Valvoline Company Profile
Valvoline Inc manufactures, markets, and supplies, engine and automotive maintenance products and services. It operates through three segments: Quick Lubes, Core North America, 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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