State of Tennessee Department of Treasury Sells 1,377 Shares of Valvoline Inc. (NYSE:VVV)

State of Tennessee Department of Treasury lessened its holdings in Valvoline Inc. (NYSE:VVV) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 48,823 shares of the basic materials company’s stock after selling 1,377 shares during the period. State of Tennessee Department of Treasury’s holdings in Valvoline were worth $1,766,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of VVV. Vanguard Group Inc. increased its stake in Valvoline by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 12,893,648 shares of the basic materials company’s stock worth $466,492,000 after acquiring an additional 101,834 shares during the last quarter. Wasatch Advisors LP raised its holdings in Valvoline by 11.1% during the 4th 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 period. Fiduciary Management Inc. WI lifted its position in Valvoline by 35.1% in the fourth quarter. Fiduciary Management Inc. WI now owns 4,221,275 shares of the basic materials company’s stock worth $152,726,000 after buying an additional 1,096,486 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Valvoline by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,608,067 shares of the basic materials company’s stock worth $94,362,000 after buying an additional 6,871 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Valvoline by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,642,754 shares of the basic materials company’s stock valued at $59,435,000 after acquiring an additional 16,912 shares during the last quarter. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Insider Activity

In related news, insider Julie Marie O’daniel sold 6,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were 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 of the company’s stock, valued at $572,560.05. This represents a 28.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.66% of the company’s stock.

Valvoline Stock Performance

Shares of NYSE:VVV opened at $34.07 on Wednesday. The firm has a 50 day moving average of $34.80 and a 200 day moving average of $37.40. 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 company has a market capitalization of $4.33 billion, a price-to-earnings ratio of 16.30 and a beta of 1.32. Valvoline Inc. has a 52 week low of $31.02 and a 52 week high of $48.27.

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on VVV shares. TD Securities started coverage on shares of Valvoline in a report on Friday, April 4th. They issued a “buy” rating and a $40.00 target price for the company. Morgan Stanley restated an “equal weight” rating and set a $38.00 target price (down previously from $42.00) on shares of Valvoline in a research report on Tuesday, January 21st. Citigroup reduced their price target on Valvoline from $41.00 to $38.00 and set a “neutral” rating on the stock in a report on Tuesday. Wells Fargo & Company dropped their price objective on Valvoline from $44.00 to $42.00 and set an “overweight” rating for the company in a report on Monday. Finally, JPMorgan Chase & Co. increased their target price on Valvoline from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Valvoline presently has an average rating of “Moderate Buy” and an average price target of $42.67.

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.