Independence Bank of Kentucky Acquires 3,140 Shares of Valvoline Inc. (NYSE:VVV)

Independence Bank of Kentucky raised its holdings in shares of Valvoline Inc. (NYSE:VVV) by 363.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,003 shares of the basic materials company’s stock after buying an additional 3,140 shares during the period. Independence Bank of Kentucky’s holdings in Valvoline were worth $145,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Valvoline by 0.4% in the 3rd quarter. State Street Corp now owns 4,096,436 shares of the basic materials company’s stock worth $171,436,000 after purchasing an additional 16,916 shares in the last quarter. Natixis Advisors LLC increased its position in Valvoline by 8.1% in the third quarter. Natixis Advisors LLC now owns 422,989 shares of the basic materials company’s stock worth $17,702,000 after buying an additional 31,661 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Valvoline in the third quarter worth about $4,628,000. Thrivent Financial for Lutherans lifted its position in shares of Valvoline by 118.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 67,948 shares of the basic materials company’s stock valued at $2,844,000 after buying an additional 36,814 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Valvoline by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,226,769 shares of the basic materials company’s stock valued at $93,215,000 after acquiring an additional 54,545 shares during the period. 96.13% of the stock is currently owned by institutional investors.

Insider Activity

In other Valvoline news, CEO Lori Ann Flees bought 2,500 shares of Valvoline stock in a transaction dated Wednesday, November 27th. The shares were purchased at an average cost of $39.64 per share, for a total transaction of $99,100.00. Following the acquisition, the chief executive officer now directly owns 38,428 shares in the company, valued at approximately $1,523,285.92. This represents a 6.96 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CTO Robert Travis Dobbins sold 1,914 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $40.00, for a total transaction of $76,560.00. Following the completion of the transaction, the chief technology officer now directly owns 14,956 shares of the company’s stock, valued at approximately $598,240. The trade was a 11.35 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

Valvoline Price Performance

Shares of Valvoline stock opened at $37.07 on Monday. The firm has a market cap of $4.76 billion, a PE ratio of 22.88 and a beta of 1.45. The stock has a 50 day moving average of $37.20 and a 200 day moving average of $40.17. The company has a current ratio of 0.72, a quick ratio of 0.61 and a debt-to-equity ratio of 5.77. Valvoline Inc. has a 12 month low of $33.86 and a 12 month high of $48.26.

Analyst Upgrades and Downgrades

A number of research firms have commented on VVV. Stephens started coverage on shares of Valvoline in a research note on Tuesday, October 15th. They set an “overweight” rating and a $49.00 target price on the stock. Morgan Stanley restated an “equal weight” rating and set a $38.00 price objective (down from $42.00) on shares of Valvoline in a research report on Tuesday, January 21st. Wells Fargo & Company dropped their target price on shares of Valvoline from $46.00 to $44.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Stifel Nicolaus started coverage on Valvoline in a report on Friday, December 20th. They set a “hold” rating and a $42.00 price target on the stock. Finally, Robert W. Baird dropped their price objective on Valvoline from $48.00 to $46.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.89.

Valvoline Company 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.