Fulton Bank N.A. Has $465,000 Stock Position in Valvoline Inc. (NYSE:VVV)

Fulton Bank N.A. boosted its holdings in Valvoline Inc. (NYSE:VVV) by 21.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,102 shares of the basic materials company’s stock after buying an additional 1,991 shares during the period. Fulton Bank N.A.’s holdings in Valvoline were worth $465,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Inspire Advisors LLC bought a new position in Valvoline during the first quarter worth $237,000. Congress Asset Management Co. MA lifted its stake in shares of Valvoline by 6.5% in 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 buying an additional 212,428 shares during the period. Vaughan Nelson Investment Management L.P. grew its position in Valvoline by 28.1% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,062,580 shares of the basic materials company’s stock worth $47,359,000 after buying an additional 233,285 shares in the last quarter. Sei Investments Co. increased its stake in Valvoline by 23.7% during the first quarter. Sei Investments Co. now owns 554,416 shares of the basic materials company’s stock valued at $24,710,000 after acquiring an additional 106,151 shares during the period. Finally, Capstone Investment Advisors LLC acquired a new position in Valvoline in the 1st quarter valued at approximately $1,846,000. 96.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

VVV has been the topic of several recent research reports. Royal Bank of Canada decreased their price objective on Valvoline from $54.00 to $48.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Piper Sandler started coverage on shares of Valvoline in a research note on Wednesday, June 12th. They issued an “overweight” rating and a $49.00 price objective for the company. Citigroup raised their price objective on shares of Valvoline from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Wells Fargo & Company dropped their price target on shares of Valvoline from $50.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Finally, Baird R W raised Valvoline to a “strong-buy” rating in a report on Thursday, August 15th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Valvoline currently has an average rating of “Moderate Buy” and a consensus target price of $47.57.

Valvoline Stock Down 1.0 %

Shares of VVV opened at $39.86 on Wednesday. The company has a market capitalization of $5.14 billion, a P/E ratio of 31.63 and a beta of 1.45. Valvoline Inc. has a one year low of $29.15 and a one year high of $48.26. The business’s 50 day simple moving average is $41.34 and its 200-day simple moving average is $42.27. The company has a debt-to-equity ratio of 10.57, a current ratio of 0.73 and a quick ratio of 0.62.

Valvoline (NYSE:VVV) last posted its quarterly earnings data on Wednesday, August 7th. The basic materials company reported $0.45 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 business had revenue of $421.00 million during the quarter, compared to analyst estimates of $425.17 million. During the same period in the prior year, the firm posted $0.43 EPS. Valvoline’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, sell-side analysts predict that Valvoline Inc. will post 1.53 EPS for the current fiscal year.

Valvoline announced that its board has authorized a stock repurchase plan on Tuesday, July 30th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the basic materials company to reacquire up to 7.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

About Valvoline

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.