Wasatch Advisors LP Purchases 1,706,190 Shares of Valvoline Inc. (NYSE:VVV)

Wasatch Advisors LP raised its position in Valvoline Inc. (NYSE:VVV) by 25.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,507,925 shares of the basic materials company’s stock after buying an additional 1,706,190 shares during the period. Valvoline comprises 2.0% of Wasatch Advisors LP’s investment portfolio, making the stock its 8th biggest position. Wasatch Advisors LP owned approximately 6.56% of Valvoline worth $379,198,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of VVV. Vaughan Nelson Investment Management L.P. acquired a new stake in Valvoline in the 4th quarter valued at $31,165,000. Oak Thistle LLC purchased a new stake in shares of Valvoline during the fourth quarter worth about $1,060,000. Cerity Partners LLC acquired a new position in shares of Valvoline during the 4th quarter worth about $1,049,000. First Hawaiian Bank lifted its stake in Valvoline by 368.1% in the 4th quarter. First Hawaiian Bank now owns 48,622 shares of the basic materials company’s stock valued at $1,827,000 after buying an additional 38,235 shares in the last quarter. Finally, Scharf Investments LLC lifted its stake in Valvoline by 9.0% in the 4th quarter. Scharf Investments LLC now owns 2,655,463 shares of the basic materials company’s stock valued at $99,792,000 after buying an additional 218,508 shares in the last quarter. Institutional investors and hedge funds own 96.13% of the company’s stock.

Valvoline Trading Up 1.8 %

Shares of VVV traded up $0.75 during mid-day trading on Tuesday, reaching $42.83. The stock had a trading volume of 1,010,882 shares, compared to its average volume of 1,165,868. Valvoline Inc. has a 52-week low of $29.15 and a 52-week high of $45.37. The firm has a market cap of $5.52 billion, a price-to-earnings ratio of 33.99 and a beta of 1.44. The business’s fifty day moving average is $41.82 and its 200 day moving average is $40.71. The company has a debt-to-equity ratio of 15.83, a current ratio of 0.73 and a quick ratio of 0.69.

Valvoline (NYSE:VVV) last posted its quarterly earnings results 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. The business had revenue of $388.70 million during the quarter, compared to analysts’ expectations of $390.75 million. Valvoline had a net margin of 11.78% and a return on equity of 136.59%. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.23 EPS. On average, sell-side analysts predict that Valvoline Inc. will post 1.61 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Royal Bank of Canada reissued an “outperform” rating and set a $48.00 target price on shares of Valvoline in a report on Friday, June 7th. Mizuho assumed coverage on Valvoline in a report on Tuesday, March 19th. They issued a “buy” rating and a $50.00 price objective on the stock. Citigroup upped their target price on shares of Valvoline from $36.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, March 13th. Finally, 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 on the stock. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $43.88.

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.