Algert Global LLC Makes New Investment in Valvoline Inc. (NYSE:VVV)

Algert Global LLC bought a new stake in shares of Valvoline Inc. (NYSE:VVV) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 61,205 shares of the basic materials company’s stock, valued at approximately $2,644,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of VVV. Susquehanna Fundamental Investments LLC boosted its holdings in Valvoline by 11.5% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 227,089 shares of the basic materials company’s stock valued at $9,810,000 after acquiring an additional 23,364 shares during the period. Sculptor Capital LP boosted its stake in shares of Valvoline by 187.6% during 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 purchasing an additional 1,226,000 shares during the period. Millennium Management LLC grew its holdings in shares of Valvoline by 33.5% in the second quarter. Millennium Management LLC now owns 217,564 shares of the basic materials company’s stock worth $9,399,000 after purchasing an additional 54,565 shares during the last quarter. Maverick Capital Ltd. bought a new position in shares of Valvoline in the second quarter worth about $1,798,000. Finally, D. E. Shaw & Co. Inc. increased its stake in Valvoline by 30.1% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 828,403 shares of the basic materials company’s stock worth $35,787,000 after buying an additional 191,504 shares during the period. 96.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VVV has been the topic of a number of research analyst reports. Royal Bank of Canada dropped their target price on shares of Valvoline from $54.00 to $48.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Piper Sandler started coverage on Valvoline in a research report on Wednesday, June 12th. They set an “overweight” rating and a $49.00 target price for the company. Citigroup increased 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. Wells Fargo & Company decreased their price objective on Valvoline from $50.00 to $46.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Finally, Robert W. Baird started coverage on shares of Valvoline in a report on Thursday, August 15th. They set an “outperform” rating and a $48.00 target price on the stock. Two research 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.57.

Valvoline Stock Performance

VVV stock opened at $41.39 on Wednesday. Valvoline Inc. has a one year low of $29.15 and a one year high of $48.26. The firm has a market cap of $5.33 billion, a price-to-earnings ratio of 32.85 and a beta of 1.45. The company has a debt-to-equity ratio of 10.57, a quick ratio of 0.62 and a current ratio of 0.73. The firm has a 50-day simple moving average of $41.69 and a two-hundred day simple moving average of $42.38.

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

Valvoline announced that its board has approved a stock buyback program on Tuesday, July 30th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the basic materials company to purchase up to 7.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management 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.