First Hawaiian Bank Lowers Stake in Valvoline Inc. (NYSE:VVV)

First Hawaiian Bank reduced its stake in shares of Valvoline Inc. (NYSE:VVV) by 15.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,115 shares of the basic materials company’s stock after selling 6,966 shares during the quarter. First Hawaiian Bank’s holdings in Valvoline were worth $1,647,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in VVV. Wasatch Advisors LP raised its position in shares of Valvoline by 25.1% in the first quarter. Wasatch Advisors LP now owns 8,507,925 shares of the basic materials company’s stock valued at $379,198,000 after buying an additional 1,706,190 shares during the last quarter. Wellington Management Group LLP increased its position 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 worth $140,382,000 after buying an additional 3,716,212 shares during the period. Congress Asset Management Co. MA increased its holdings 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 valued at $155,970,000 after purchasing an additional 212,428 shares during the period. Fiduciary Management Inc. WI increased its holdings 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 valued at $114,826,000 after purchasing an additional 1,083,722 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Valvoline by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,817,828 shares of the basic materials company’s stock valued at $105,897,000 after purchasing an additional 44,218 shares during the period. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on VVV. Piper Sandler initiated coverage on Valvoline in a research report on Wednesday, June 12th. They set an “overweight” rating and a $49.00 price objective for the company. Citigroup lifted their price target on Valvoline from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $48.00 price objective on shares of Valvoline in a report on Friday, June 7th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $44.25.

Valvoline Trading Down 4.0 %

Shares of VVV stock traded down $1.78 on Monday, reaching $43.05. 1,877,028 shares of the stock were exchanged, compared to its average volume of 1,182,009. The stock has a market cap of $5.55 billion, a PE ratio of 35.58 and a beta of 1.43. Valvoline Inc. has a one year low of $29.15 and a one year high of $48.26. The company has a debt-to-equity ratio of 15.83, a current ratio of 0.73 and a quick ratio of 0.69. The stock has a 50 day moving average price of $43.20 and a 200 day moving average price of $42.11.

Valvoline (NYSE:VVV) last released its earnings results on Wednesday, May 8th. The basic materials company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The company had revenue of $388.70 million during the quarter, compared to the consensus estimate of $390.75 million. Valvoline had a return on equity of 136.59% and a net margin of 11.78%. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.23 earnings per share. Equities research analysts forecast that Valvoline Inc. will post 1.61 EPS for the current fiscal year.

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.