Adage Capital Partners GP L.L.C. Takes Position in Valvoline Inc. (NYSE:VVV)

Adage Capital Partners GP L.L.C. purchased a new position in Valvoline Inc. (NYSE:VVV) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 575,000 shares of the basic materials company’s stock, valued at approximately $20,804,000.

Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in Valvoline during the 4th quarter valued at about $54,114,000. Fiduciary Management Inc. WI boosted its position in shares of Valvoline by 35.1% during the fourth quarter. Fiduciary Management Inc. WI now owns 4,221,275 shares of the basic materials company’s stock valued at $152,726,000 after buying an additional 1,096,486 shares during the period. Wasatch Advisors LP grew its stake in shares of Valvoline by 11.1% during the fourth quarter. Wasatch Advisors LP now owns 10,818,256 shares of the basic materials company’s stock valued at $391,405,000 after buying an additional 1,080,114 shares during the last quarter. Champlain Investment Partners LLC purchased a new stake in shares of Valvoline in the fourth quarter worth approximately $35,051,000. Finally, Marshall Wace LLP raised its holdings in shares of Valvoline by 697.1% in the fourth quarter. Marshall Wace LLP now owns 1,058,267 shares of the basic materials company’s stock worth $38,288,000 after buying an additional 925,504 shares during the period. 96.13% of the stock is currently owned by institutional investors.

Valvoline Stock Down 0.4 %

Valvoline stock opened at $34.69 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.70 and a debt-to-equity ratio of 4.39. The firm has a market cap of $4.41 billion, a P/E ratio of 16.60 and a beta of 1.32. The business has a fifty day moving average of $34.95 and a two-hundred day moving average of $37.49. Valvoline Inc. has a twelve month low of $31.02 and a twelve month high of $48.27.

Valvoline (NYSE:VVV) last issued its quarterly earnings data on Thursday, February 6th. The basic materials company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. Valvoline had a return on equity of 143.64% and a net margin of 16.34%. On average, analysts forecast that Valvoline Inc. will post 1.63 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Julie Marie O’daniel sold 6,000 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $37.41, for a total transaction of $224,460.00. Following the completion of the sale, the insider now owns 15,305 shares in the company, valued at approximately $572,560.05. This represents a 28.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on VVV. Mizuho cut their price objective on Valvoline from $46.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. TD Cowen assumed coverage on shares of Valvoline in a research note on Friday, April 4th. They set a “buy” rating and a $40.00 target price for the company. Morgan Stanley reaffirmed an “equal weight” rating and issued a $38.00 price target (down previously from $42.00) on shares of Valvoline in a research note on Tuesday, January 21st. TD Securities began coverage on shares of Valvoline in a research report on Friday, April 4th. They issued a “buy” rating and a $40.00 price objective for the company. Finally, Royal Bank of Canada raised their target price on shares of Valvoline from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Valvoline has a consensus rating of “Moderate Buy” and an average target price of $43.67.

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.