Truist Financial Corp Cuts Holdings in Valvoline Inc. (NYSE:VVV)

Truist Financial Corp lowered its stake in Valvoline Inc. (NYSE:VVV) by 0.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,489 shares of the basic materials company’s stock after selling 858 shares during the period. Truist Financial Corp owned about 0.08% of Valvoline worth $4,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP grew its stake in shares of Valvoline by 19,218.1% during 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 purchasing an additional 3,716,212 shares in the last quarter. Congress Asset Management Co. MA acquired a new position in shares of Valvoline during the 4th quarter worth about $123,526,000. Wasatch Advisors LP boosted its position in shares of Valvoline by 25.1% during the 1st quarter. Wasatch Advisors LP now owns 8,507,925 shares of the basic materials company’s stock worth $379,198,000 after acquiring an additional 1,706,190 shares in the last quarter. Sculptor Capital LP increased its holdings in shares of Valvoline by 187.6% in the 2nd quarter. Sculptor Capital LP now owns 1,879,500 shares of the basic materials company’s stock valued at $81,194,000 after acquiring an additional 1,226,000 shares during the last quarter. Finally, F M Investments LLC acquired a new stake in shares of Valvoline during the 2nd quarter worth about $11,992,000. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Valvoline Stock Performance

NYSE VVV opened at $39.86 on Wednesday. The firm has a market cap of $5.14 billion, a P/E ratio of 31.63 and a beta of 1.45. Valvoline Inc. has a 52-week low of $29.15 and a 52-week high of $48.26. The business’s 50-day moving average price is $41.34 and its 200 day moving average price is $42.27. The company has a quick ratio of 0.62, a current ratio of 0.73 and a debt-to-equity ratio of 10.57.

Valvoline (NYSE:VVV) last released 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 net margin of 10.45% and a return on equity of 182.88%. The company had revenue of $421.00 million during the quarter, compared to analyst estimates of $425.17 million. During the same period in the previous year, the firm posted $0.43 EPS. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, equities research analysts expect that Valvoline Inc. will post 1.53 earnings per share for the current year.

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on VVV shares. Baird R W upgraded shares of Valvoline to a “strong-buy” rating in a research note on Thursday, August 15th. Robert W. Baird started coverage on shares of Valvoline in a research report on Thursday, August 15th. They issued an “outperform” rating and a $48.00 target price on the stock. Wells Fargo & Company reduced 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. Piper Sandler began coverage on Valvoline in a report on Wednesday, June 12th. They set an “overweight” rating and a $49.00 price objective on the stock. Finally, Royal Bank of Canada reduced their target price on Valvoline from $54.00 to $48.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Valvoline presently has an average rating of “Moderate Buy” and an average target price of $47.57.

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.