Bright Rock Capital Management LLC bought a new position in shares of Valvoline Inc. (NYSE:VVV – Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 45,000 shares of the basic materials company’s stock, valued at approximately $2,006,000.
Several other hedge funds also recently made changes to their positions in the business. Invesco Ltd. increased its stake in Valvoline by 29.1% in the third quarter. Invesco Ltd. now owns 4,040,237 shares of the basic materials company’s stock valued at $130,257,000 after acquiring an additional 911,073 shares during the last quarter. Wellington Management Group LLP increased its stake in Valvoline by 19,218.1% in the fourth quarter. Wellington Management Group LLP now owns 3,735,549 shares of the basic materials company’s stock valued at $140,382,000 after acquiring an additional 3,716,212 shares during the last quarter. Congress Asset Management Co. MA grew its stake in shares of Valvoline by 6.5% during the first quarter. Congress Asset Management Co. MA now owns 3,499,430 shares of the basic materials company’s stock worth $155,970,000 after buying an additional 212,428 shares during the last quarter. Fiduciary Management Inc. WI grew its stake in shares of Valvoline by 55.0% during the fourth quarter. Fiduciary Management Inc. WI now owns 3,055,520 shares of the basic materials company’s stock worth $114,826,000 after buying an additional 1,083,722 shares during the last quarter. Finally, Alua Capital Management LP grew its stake in shares of Valvoline by 24.7% during the third quarter. Alua Capital Management LP now owns 2,935,539 shares of the basic materials company’s stock worth $94,642,000 after buying an additional 582,400 shares during the last quarter. 96.13% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on VVV. Royal Bank of Canada reiterated an “outperform” rating and set a $48.00 price target on shares of Valvoline in a report on Friday, June 7th. Piper Sandler began coverage on shares of Valvoline in a research note on Wednesday, June 12th. They issued an “overweight” rating and a $49.00 price target for the company. Mizuho started coverage on shares of Valvoline in a research note on Tuesday, March 19th. They issued a “buy” rating and a $50.00 price target for the company. Finally, Citigroup boosted their target price on shares of Valvoline from $36.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 13th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.78.
Valvoline Stock Performance
Shares of VVV traded up $0.37 on Friday, reaching $41.81. 2,271,060 shares of the company’s stock traded hands, compared to its average volume of 897,041. The company has a current ratio of 0.73, a quick ratio of 0.69 and a debt-to-equity ratio of 15.83. The stock has a market cap of $5.39 billion, a PE ratio of 33.18 and a beta of 1.44. The stock’s 50 day simple moving average is $41.68 and its two-hundred day simple moving average is $40.37. Valvoline Inc. has a 52-week low of $29.15 and a 52-week high of $45.37.
Valvoline (NYSE:VVV – Get Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.01. Valvoline had a return on equity of 136.59% and a net margin of 11.78%. The business had revenue of $388.70 million during the quarter, compared to analyst estimates of $390.75 million. During the same period in the prior year, the company earned $0.23 earnings per share. Valvoline’s revenue was up 12.8% compared to the same quarter last year. On average, analysts forecast that Valvoline Inc. will post 1.61 earnings per share for the current fiscal year.
About Valvoline
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.