Assenagon Asset Management S.A. Has $9.13 Million Stock Holdings in Valvoline Inc. (NYSE:VVV)

Assenagon Asset Management S.A. trimmed its position in shares of Valvoline Inc. (NYSE:VVV) by 45.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 262,267 shares of the basic materials company’s stock after selling 216,993 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.21% of Valvoline worth $9,130,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in VVV. Cetera Investment Advisers increased its holdings in Valvoline by 1.3% in the fourth quarter. Cetera Investment Advisers now owns 21,425 shares of the basic materials company’s stock worth $775,000 after purchasing an additional 277 shares in the last quarter. Arizona State Retirement System increased its holdings in Valvoline by 0.8% in the fourth quarter. Arizona State Retirement System now owns 35,530 shares of the basic materials company’s stock worth $1,285,000 after purchasing an additional 281 shares in the last quarter. Advisory Research Inc. increased its holdings in Valvoline by 0.7% in the fourth quarter. Advisory Research Inc. now owns 41,045 shares of the basic materials company’s stock worth $1,485,000 after purchasing an additional 295 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Valvoline by 10.9% in the fourth quarter. Farther Finance Advisors LLC now owns 3,548 shares of the basic materials company’s stock worth $128,000 after purchasing an additional 349 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its holdings in Valvoline by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 56,792 shares of the basic materials company’s stock worth $2,055,000 after purchasing an additional 360 shares in the last quarter. 96.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VVV has been the subject of several research analyst reports. Wells Fargo & Company decreased their price target on shares of Valvoline from $44.00 to $42.00 and set an “overweight” rating for the company in a research note on Monday, April 28th. TD Cowen assumed coverage on shares of Valvoline in a report on Friday, April 4th. They set a “buy” rating and a $40.00 price objective on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $44.00 price target (down from $45.00) on shares of Valvoline in a research note on Friday, May 9th. Citigroup reduced their price objective on Valvoline from $41.00 to $38.00 and set a “neutral” rating for the company in a research note on Tuesday, April 29th. Finally, TD Securities began coverage on Valvoline in a report on Friday, April 4th. They set a “buy” rating and a $40.00 price objective for the company. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.54.

Valvoline Stock Performance

VVV opened at $35.33 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.58 and a debt-to-equity ratio of 4.39. The company’s fifty day moving average price is $34.49 and its two-hundred day moving average price is $35.97. Valvoline Inc. has a 1-year low of $31.02 and a 1-year high of $48.27. The company has a market cap of $4.49 billion, a price-to-earnings ratio of 16.90 and a beta of 1.17.

Valvoline (NYSE:VVV) last released its quarterly earnings data on Thursday, May 8th. The basic materials company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). Valvoline had a return on equity of 143.64% and a net margin of 16.34%. The business had revenue of $403.20 million for the quarter, compared to analyst estimates of $405.38 million. During the same quarter in the previous year, the company posted $0.37 EPS. The business’s quarterly revenue was up 3.7% on a year-over-year basis. On average, analysts expect that Valvoline Inc. will post 1.63 EPS for the current fiscal year.

Insider Activity

In other news, CEO Lori Ann Flees bought 3,000 shares of the stock in a transaction dated Tuesday, May 27th. The stock was bought at an average price of $33.78 per share, for a total transaction of $101,340.00. Following the completion of the acquisition, the chief executive officer now directly owns 46,614 shares in the company, valued at approximately $1,574,620.92. This trade represents a 6.88% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

Valvoline Company Profile

Valvoline Inc engages in the operation and franchising of vehicle service centers and retail stores in the United States and Canada. The company, through its service centers, provides fluid exchange for motor oil, transmission and differential fluid, and coolant; parts replacement for batteries, filters, wiper blades, and belts; and safety services, such as tire inflation and rotation, bulbs, and safety checks.