Eaton Vance Management increased its holdings in Valvoline Inc (NYSE:VVV) by 66.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 465,034 shares of the basic materials company’s stock after buying an additional 185,139 shares during the period. Eaton Vance Management owned 0.24% of Valvoline worth $10,003,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Oakbrook Investments LLC bought a new position in Valvoline in the third quarter valued at approximately $264,000. Bank of Montreal Can increased its stake in Valvoline by 14.4% in the second quarter. Bank of Montreal Can now owns 33,686 shares of the basic materials company’s stock valued at $726,000 after acquiring an additional 4,235 shares during the last quarter. First Hawaiian Bank bought a new position in Valvoline in the third quarter valued at approximately $113,000. Brown Advisory Inc. increased its stake in Valvoline by 66.0% in the second quarter. Brown Advisory Inc. now owns 50,890 shares of the basic materials company’s stock valued at $1,098,000 after acquiring an additional 20,242 shares during the last quarter. Finally, Chartwell Investment Partners LLC increased its stake in Valvoline by 31.4% in the third quarter. Chartwell Investment Partners LLC now owns 202,986 shares of the basic materials company’s stock valued at $4,366,000 after acquiring an additional 48,457 shares during the last quarter.
A number of analysts have weighed in on the stock. Zacks Investment Research cut shares of Valvoline from a “hold” rating to a “sell” rating in a research note on Saturday, November 17th. Bank of America cut shares of Valvoline from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $24.00 to $20.00 in a research note on Tuesday, November 6th. Seaport Global Securities raised shares of Valvoline from a “neutral” rating to a “buy” rating in a research note on Monday, September 17th. ValuEngine raised shares of Valvoline from a “sell” rating to a “hold” rating in a research note on Monday, November 26th. Finally, Citigroup set a $22.00 price objective on shares of Valvoline and gave the stock a “buy” rating in a research note on Thursday, November 8th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $24.44.
Shares of Valvoline stock opened at $20.62 on Thursday. The firm has a market capitalization of $3.97 billion, a P/E ratio of 15.98, a price-to-earnings-growth ratio of 1.47 and a beta of 0.96. Valvoline Inc has a twelve month low of $17.49 and a twelve month high of $25.63.
Valvoline (NYSE:VVV) last released its earnings results on Monday, November 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.34. The business had revenue of $594.00 million for the quarter, compared to analyst estimates of $593.80 million. Valvoline had a net margin of 7.26% and a negative return on equity of 95.31%. Valvoline’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.33 earnings per share. On average, analysts forecast that Valvoline Inc will post 1.39 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Friday, November 30th will be issued a $0.106 dividend. This is a positive change from Valvoline’s previous quarterly dividend of $0.07. The ex-dividend date is Thursday, November 29th. This represents a $0.42 annualized dividend and a yield of 2.06%. Valvoline’s payout ratio is presently 32.56%.
In related news, VP Thomas A. Gerrald II sold 1,566 shares of the business’s stock in a transaction on Tuesday, November 20th. The shares were sold at an average price of $20.39, for a total value of $31,930.74. Following the transaction, the vice president now owns 1,643 shares in the company, valued at $33,500.77. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Anthony R. Puckett sold 2,588 shares of the business’s stock in a transaction on Monday, November 19th. The shares were sold at an average price of $20.32, for a total transaction of $52,588.16. Following the completion of the transaction, the insider now owns 3,298 shares in the company, valued at approximately $67,015.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,698 shares of company stock worth $95,350. 0.59% of the stock is owned by company insiders.
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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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