VELA Investment Management LLC Purchases 17,568 Shares of Valvoline Inc. (NYSE:VVV)

VELA Investment Management LLC increased its position in shares of Valvoline Inc. (NYSE:VVV) by 41.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60,272 shares of the basic materials company’s stock after buying an additional 17,568 shares during the period. VELA Investment Management LLC’s holdings in Valvoline were worth $2,522,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of VVV. Inspire Advisors LLC bought a new stake in Valvoline in the 1st quarter valued at $237,000. Sei Investments Co. boosted its holdings in Valvoline by 23.7% in the 1st quarter. Sei Investments Co. now owns 554,416 shares of the basic materials company’s stock valued at $24,710,000 after purchasing an additional 106,151 shares during the period. Capstone Investment Advisors LLC bought a new stake in Valvoline in the 1st quarter valued at $1,846,000. Tidal Investments LLC boosted its holdings in Valvoline by 97.6% in the 1st quarter. Tidal Investments LLC now owns 29,843 shares of the basic materials company’s stock valued at $1,330,000 after purchasing an additional 14,739 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its holdings in Valvoline by 28.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 126,232 shares of the basic materials company’s stock valued at $5,453,000 after purchasing an additional 28,254 shares during the period. 96.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on VVV shares. Robert W. Baird initiated coverage on shares of Valvoline in a report on Thursday, August 15th. They issued an “outperform” rating and a $48.00 price target for the company. Stephens initiated coverage on shares of Valvoline in a research note on Tuesday, October 15th. They issued an “overweight” rating and a $49.00 price objective for the company. Royal Bank of Canada dropped their price objective on shares of Valvoline from $54.00 to $48.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Citigroup increased their price objective on shares of Valvoline from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Finally, Baird R W upgraded shares of Valvoline to a “strong-buy” rating in a research note on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.75.

Valvoline Price Performance

Shares of Valvoline stock traded up $0.09 during mid-day trading on Friday, reaching $40.37. 951,736 shares of the stock were exchanged, compared to its average volume of 988,871. The company has a current ratio of 0.73, a quick ratio of 0.62 and a debt-to-equity ratio of 10.57. The company has a market cap of $5.20 billion, a price-to-earnings ratio of 32.82 and a beta of 1.46. Valvoline Inc. has a fifty-two week low of $29.15 and a fifty-two week high of $48.26. The firm has a 50-day simple moving average of $41.15 and a 200 day simple moving average of $42.00.

Valvoline (NYSE:VVV) last posted its quarterly earnings data on Wednesday, August 7th. The basic materials company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.03). The company had revenue of $421.00 million during the quarter, compared to analyst estimates of $425.17 million. Valvoline had a net margin of 10.45% and a return on equity of 182.88%. The company’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.43 EPS. On average, sell-side analysts predict that Valvoline Inc. will post 1.53 EPS for the current fiscal year.

Valvoline declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, July 30th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the basic materials company to buy up to 7.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Valvoline 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.