Valvoline (VVV) Reaches New 12-Month High and Low Following Dividend Announcement

Shares of Valvoline Inc (NYSE:VVV) reached a new 52-week high and low during mid-day trading on Thursday after the company announced a dividend. The stock traded as low as $20.97 and last traded at $20.96, with a volume of 1879440 shares changing hands. The stock had previously closed at $22.11.

The newly announced dividend which will be paid on Friday, June 15th. Investors of record on Friday, June 1st will be given a $0.0745 dividend. This represents a $0.30 annualized dividend and a yield of 1.42%. Valvoline’s payout ratio is 21.58%.

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Several equities analysts recently weighed in on the stock. Longbow Research cut shares of Valvoline from a “buy” rating to a “neutral” rating in a research report on Thursday. JPMorgan Chase cut shares of Valvoline from a “neutral” rating to an “underweight” rating and set a $23.00 price target on the stock. in a research report on Friday, March 16th. Wolfe Research assumed coverage on shares of Valvoline in a research report on Wednesday, March 7th. They issued an “outperform” rating on the stock. Zacks Investment Research cut shares of Valvoline from a “buy” rating to a “hold” rating in a research report on Tuesday, February 27th. Finally, Morgan Stanley dropped their price target on shares of Valvoline from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Friday, February 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. Valvoline presently has a consensus rating of “Hold” and an average target price of $25.86.

The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of -5.91. The stock has a market capitalization of $4,449.46, a P/E ratio of 15.57, a P/E/G ratio of 1.32 and a beta of 1.00.

Valvoline (NYSE:VVV) last posted its earnings results on Wednesday, February 7th. The basic materials company reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.01. Valvoline had a net margin of 10.37% and a negative return on equity of 148.14%. The firm had revenue of $545.00 million for the quarter, compared to analysts’ expectations of $530.10 million. During the same quarter last year, the firm earned $0.35 EPS. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. equities analysts anticipate that Valvoline Inc will post 1.35 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. lifted its position in shares of Valvoline by 63.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 6,696 shares of the basic materials company’s stock worth $167,000 after buying an additional 2,602 shares in the last quarter. Leavell Investment Management Inc. purchased a new stake in shares of Valvoline during the 4th quarter worth approximately $206,000. Good Life Advisors LLC purchased a new stake in shares of Valvoline during the 4th quarter worth approximately $241,000. Dean Capital Investments Management LLC purchased a new stake in shares of Valvoline during the 4th quarter worth approximately $254,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Valvoline by 79.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,936 shares of the basic materials company’s stock worth $299,000 after purchasing an additional 5,268 shares during the last quarter. 95.50% of the stock is currently owned by hedge funds and other institutional investors.

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Valvoline Company Profile

Valvoline Inc manufactures and markets engine and automotive maintenance products and services. It operates through three segments: Core North America, Quick Lubes, 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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