Valvoline Inc. (NYSE:VVV) Shares Acquired by Congress Asset Management Co.

Congress Asset Management Co. grew its stake in shares of Valvoline Inc. (NYSE:VVV) by 2.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,656,672 shares of the basic materials company’s stock after buying an additional 100,305 shares during the quarter. Valvoline comprises 1.0% of Congress Asset Management Co.’s holdings, making the stock its 18th biggest position. Congress Asset Management Co. owned about 2.84% of Valvoline worth $153,032,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. UMB Bank n.a. lifted its position in Valvoline by 92.1% in the third quarter. UMB Bank n.a. now owns 630 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 302 shares during the period. Blue Trust Inc. grew its holdings in shares of Valvoline by 57.9% in the 2nd quarter. Blue Trust Inc. now owns 728 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 267 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Valvoline in the 2nd quarter worth about $34,000. Mather Group LLC. boosted its stake in Valvoline by 1,617.0% in the 2nd quarter. Mather Group LLC. now owns 807 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 760 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Valvoline by 46.5% during the third quarter. GAMMA Investing LLC now owns 1,465 shares of the basic materials company’s stock valued at $61,000 after buying an additional 465 shares in the last quarter. 96.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on VVV. Royal Bank of Canada lowered their target price on shares of Valvoline from $54.00 to $48.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Robert W. Baird assumed coverage on Valvoline in a research note on Thursday, August 15th. They issued an “outperform” rating and a $48.00 price objective on the stock. Citigroup upped their target price on Valvoline from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Stephens assumed coverage on shares of Valvoline in a report on Tuesday, October 15th. They set an “overweight” rating and a $49.00 price objective for the company. Finally, Baird R W raised shares of Valvoline to a “strong-buy” rating in a research report on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $47.75.

Valvoline Price Performance

VVV traded up $0.24 during trading on Thursday, hitting $40.69. The company’s stock had a trading volume of 37,652 shares, compared to its average volume of 1,181,658. Valvoline Inc. has a 12 month low of $29.15 and a 12 month high of $48.26. The stock has a market capitalization of $5.24 billion, a price-to-earnings ratio of 32.10 and a beta of 1.45. The company has a quick ratio of 0.62, a current ratio of 0.73 and a debt-to-equity ratio of 10.57. The firm’s 50 day moving average price is $41.20 and its two-hundred day moving average price is $42.02.

Valvoline (NYSE:VVV) last announced its earnings results on Wednesday, August 7th. The basic materials company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). Valvoline had a return on equity of 182.88% and a net margin of 10.45%. The company had revenue of $421.00 million for the quarter, compared to analyst estimates of $425.17 million. During the same quarter in the previous year, the company posted $0.43 earnings per share. Valvoline’s revenue for the quarter was up 11.9% on a year-over-year basis. Sell-side analysts forecast that Valvoline Inc. will post 1.53 earnings per share for the current fiscal year.

Valvoline declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, July 30th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the basic materials company to reacquire up to 7.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

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.