Victory Capital Management Inc. Boosts Position in Valvoline Inc. (NYSE:VVV)

Victory Capital Management Inc. lifted its position in Valvoline Inc. (NYSE:VVV) by 6.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,919 shares of the basic materials company’s stock after buying an additional 1,761 shares during the quarter. Victory Capital Management Inc.’s holdings in Valvoline were worth $1,210,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in VVV. Aigen Investment Management LP bought a new stake in Valvoline during the third quarter worth about $236,000. GSA Capital Partners LLP purchased a new position in shares of Valvoline during the 3rd quarter valued at about $1,178,000. State of New Jersey Common Pension Fund D lifted its position in Valvoline by 0.7% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 47,602 shares of the basic materials company’s stock worth $1,992,000 after buying an additional 313 shares during the last quarter. Crossmark Global Holdings Inc. lifted its position in Valvoline by 38.2% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 15,869 shares of the basic materials company’s stock worth $664,000 after buying an additional 4,384 shares during the last quarter. Finally, TimesSquare Capital Management LLC bought a new position in Valvoline during the third quarter valued at approximately $3,115,000. 96.13% of the stock is currently owned by hedge funds and other institutional investors.

Valvoline Price Performance

VVV stock opened at $38.79 on Wednesday. The company has a current ratio of 0.72, a quick ratio of 0.61 and a debt-to-equity ratio of 5.77. Valvoline Inc. has a 12 month low of $33.86 and a 12 month high of $48.26. The stock has a market cap of $5.00 billion, a PE ratio of 23.94 and a beta of 1.46. The company has a 50-day moving average price of $41.26 and a 200 day moving average price of $41.85.

Valvoline announced that its Board of Directors has authorized a stock repurchase program on Tuesday, July 30th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to repurchase up to 7.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other Valvoline news, Director Charles M. Sonsteby purchased 10,000 shares of Valvoline stock in a transaction dated Monday, November 25th. The shares were acquired at an average cost of $39.50 per share, with a total value of $395,000.00. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on VVV shares. Baird R W upgraded Valvoline to a “strong-buy” rating in a report on Thursday, August 15th. Mizuho decreased their price target on Valvoline from $50.00 to $46.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. Morgan Stanley dropped their price objective on Valvoline from $46.00 to $42.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Robert W. Baird decreased their target price on shares of Valvoline from $48.00 to $46.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada dropped their price target 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. One 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. According to MarketBeat, the stock presently has an average 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.