Blueshift Asset Management LLC Purchases 18,054 Shares of Valvoline Inc. (NYSE:VVV)

Blueshift Asset Management LLC grew its holdings in Valvoline Inc. (NYSE:VVV) by 364.1% in the third quarter, HoldingsChannel reports. The fund owned 23,013 shares of the basic materials company’s stock after buying an additional 18,054 shares during the period. Blueshift Asset Management LLC’s holdings in Valvoline were worth $963,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of VVV. Sculptor Capital LP boosted its stake in shares of Valvoline by 187.6% in the second quarter. Sculptor Capital LP now owns 1,879,500 shares of the basic materials company’s stock valued at $81,194,000 after buying an additional 1,226,000 shares during the period. Geneva Capital Management LLC acquired a new position in Valvoline in the third quarter valued at about $32,670,000. Fiera Capital Corp bought a new stake in Valvoline during the third quarter worth about $25,538,000. F M Investments LLC acquired a new stake in Valvoline during the second quarter worth about $11,992,000. Finally, Bank of Montreal Can increased its holdings in Valvoline by 438.7% in the 3rd quarter. Bank of Montreal Can now owns 308,699 shares of the basic materials company’s stock valued at $12,919,000 after buying an additional 251,398 shares during the period. 96.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Valvoline

In related news, Director Charles M. Sonsteby purchased 10,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was purchased at an average cost of $39.50 per share, with a total value of $395,000.00. Following the completion of the purchase, the director now owns 26,437 shares in the company, valued at approximately $1,044,261.50. This trade represents a 60.84 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.34% of the stock is owned by corporate insiders.

Valvoline Price Performance

Valvoline stock opened at $38.79 on Wednesday. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of 23.94 and a beta of 1.46. Valvoline Inc. has a 52-week low of $33.86 and a 52-week high of $48.26. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.61 and a current ratio of 0.72. The stock’s 50 day moving average price is $41.26 and its two-hundred day moving average price is $41.85.

Valvoline announced that its Board of Directors has approved a share repurchase plan on Tuesday, July 30th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the basic materials company to repurchase up to 7.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts recently issued reports on VVV shares. Stephens initiated coverage on shares of Valvoline in a research note on Tuesday, October 15th. They issued an “overweight” rating and a $49.00 price objective on the stock. Mizuho dropped their price target on Valvoline from $50.00 to $46.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. Robert W. Baird lowered their target price on Valvoline from $48.00 to $46.00 and set an “outperform” rating for the company in a report on Wednesday, November 20th. Royal Bank of Canada decreased their target price on shares of Valvoline from $52.00 to $46.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. Finally, Wells Fargo & Company reduced their price objective on shares of Valvoline from $46.00 to $44.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Valvoline has a consensus rating of “Buy” and a consensus price target of $46.25.

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.