Retirement Systems of Alabama Sells 115,496 Shares of Valvoline Inc. (NYSE:VVV)

Retirement Systems of Alabama cut its position in Valvoline Inc. (NYSE:VVV) by 42.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 156,542 shares of the basic materials company’s stock after selling 115,496 shares during the period. Retirement Systems of Alabama’s holdings in Valvoline were worth $6,551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of VVV. Wasatch Advisors LP increased its stake in Valvoline by 16.8% in the 3rd quarter. Wasatch Advisors LP now owns 9,738,142 shares of the basic materials company’s stock worth $407,541,000 after buying an additional 1,398,310 shares in the last quarter. Sculptor Capital LP grew its position in shares of Valvoline by 187.6% during the second quarter. Sculptor Capital LP now owns 1,879,500 shares of the basic materials company’s stock worth $81,194,000 after purchasing an additional 1,226,000 shares in the last quarter. Geneva Capital Management LLC purchased a new stake in shares of Valvoline during the third quarter worth about $32,670,000. Fiera Capital Corp bought a new stake in Valvoline during the 3rd quarter valued at approximately $25,538,000. Finally, F M Investments LLC purchased a new position in Valvoline in the 2nd quarter worth approximately $11,992,000. 96.13% of the stock is currently owned by institutional investors.

Valvoline Stock Performance

Valvoline stock opened at $36.78 on Thursday. The company has a quick ratio of 0.61, a current ratio of 0.72 and a debt-to-equity ratio of 5.77. Valvoline Inc. has a twelve month low of $33.86 and a twelve month high of $48.26. The company’s 50-day moving average price is $40.47 and its 200-day moving average price is $41.59. The company has a market cap of $4.72 billion, a PE ratio of 22.70 and a beta of 1.43.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Mizuho reduced their price objective on shares of Valvoline from $50.00 to $46.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. Robert W. Baird reduced their price target on shares of Valvoline from $48.00 to $46.00 and set an “outperform” rating on the stock in a report on Wednesday, November 20th. Wells Fargo & Company decreased their price target on shares of Valvoline from $46.00 to $44.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Royal Bank of Canada cut their price objective on Valvoline from $52.00 to $46.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. Finally, Morgan Stanley decreased their target price on Valvoline from $46.00 to $42.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $46.25.

Insider Buying and Selling

In other news, Director Charles M. Sonsteby bought 10,000 shares of Valvoline stock in a transaction dated Monday, November 25th. The shares were acquired at an average price of $39.50 per share, with a total value of $395,000.00. Following the completion of the purchase, the director now owns 26,437 shares in the company, valued at $1,044,261.50. The trade was a 60.84 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Robert Travis Dobbins sold 1,914 shares of Valvoline stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $40.00, for a total transaction of $76,560.00. Following the transaction, the chief technology officer now directly owns 14,956 shares of the company’s stock, valued at approximately $598,240. This represents a 11.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.34% of the stock is currently owned by company insiders.

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.