Municipal Employees Retirement System of Michigan reduced its position in shares of Valvoline Inc. (NYSE:VVV) by 22.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,287 shares of the basic materials company’s stock after selling 17,650 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Valvoline were worth $1,437,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Macquarie Group Ltd. bought a new stake in shares of Valvoline during the second quarter worth about $183,000. Legal & General Group Plc grew its holdings in shares of Valvoline by 1,210.5% during the first quarter. Legal & General Group Plc now owns 8,204 shares of the basic materials company’s stock worth $201,000 after purchasing an additional 7,578 shares during the last quarter. Oakbrook Investments LLC bought a new stake in shares of Valvoline during the second quarter worth about $204,000. First Allied Advisory Services Inc. bought a new stake in shares of Valvoline during the second quarter worth about $201,000. Finally, Fruth Investment Management bought a new stake in shares of Valvoline during the second quarter worth about $208,000. Institutional investors own 92.77% of the company’s stock.
Several research firms have recently weighed in on VVV. Zacks Investment Research upgraded Valvoline from a “sell” rating to a “hold” rating in a report on Thursday, October 12th. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $25.00 target price on shares of Valvoline in a report on Friday, November 10th. Morgan Stanley upped their target price on Valvoline from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Friday, November 10th. Finally, J P Morgan Chase & Co reiterated a “neutral” rating and issued a $22.00 target price (up from $20.00) on shares of Valvoline in a report on Wednesday, August 9th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $25.38.
Shares of Valvoline Inc. (VVV) opened at $24.47 on Friday. Valvoline Inc. has a twelve month low of $19.57 and a twelve month high of $25.07. The company has a market capitalization of $4,880.00 and a P/E ratio of 16.73. The company has a quick ratio of 1.29, a current ratio of 1.65 and a debt-to-equity ratio of -8.84.
Valvoline (NYSE:VVV) last issued its quarterly earnings results on Wednesday, November 8th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.01). Valvoline had a net margin of 14.59% and a negative return on equity of 137.91%. The business had revenue of $547.00 million during the quarter, compared to analyst estimates of $528.14 million. During the same period last year, the firm posted $0.35 earnings per share. Valvoline’s quarterly revenue was up 10.7% compared to the same quarter last year. equities analysts predict that Valvoline Inc. will post 1.25 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a $0.0745 dividend. The ex-dividend date is Thursday, November 30th. This is a positive change from Valvoline’s previous quarterly dividend of $0.05. This represents a $0.30 annualized dividend and a yield of 1.22%. Valvoline’s payout ratio is 13.42%.
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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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