Canada Pension Plan Investment Board bought a new stake in Valvoline (NYSE:VVV – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,339,407 shares of the basic materials company’s stock, valued at approximately $52,960,000. Canada Pension Plan Investment Board owned 1.05% of Valvoline as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Measured Wealth Private Client Group LLC acquired a new position in Valvoline in the first quarter valued at about $28,000. Caitong International Asset Management Co. Ltd increased its position in shares of Valvoline by 1,621.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,050 shares of the basic materials company’s stock valued at $38,000 after acquiring an additional 989 shares during the last quarter. Cedar Mountain Advisors LLC purchased a new stake in shares of Valvoline in the 1st quarter valued at approximately $42,000. EverSource Wealth Advisors LLC raised its stake in shares of Valvoline by 90.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,458 shares of the basic materials company’s stock valued at $55,000 after acquiring an additional 691 shares during the period. Finally, UMB Bank n.a. lifted its holdings in shares of Valvoline by 20.3% in the 4th quarter. UMB Bank n.a. now owns 1,906 shares of the basic materials company’s stock worth $55,000 after acquiring an additional 321 shares during the last quarter. Institutional investors and hedge funds own 96.13% of the company’s stock.
Valvoline Trading Down 2.2%
NYSE VVV opened at $32.02 on Friday. The company has a debt-to-equity ratio of 3.77, a quick ratio of 0.58 and a current ratio of 0.70. The firm has a market cap of $4.08 billion, a price-to-earnings ratio of 40.02 and a beta of 1.00. The firm has a 50 day simple moving average of $37.27 and a 200-day simple moving average of $35.80. Valvoline has a one year low of $28.50 and a one year high of $41.33.
Analysts Set New Price Targets
VVV has been the subject of a number of research analyst reports. Citigroup reaffirmed a “neutral” rating on shares of Valvoline in a research report on Thursday, July 16th. Benchmark started coverage on Valvoline in a research note on Wednesday, August 19th. They set a “buy” rating and a $48.00 price target on the stock. Stifel Nicolaus raised their price target on Valvoline from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Zacks Research cut Valvoline from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 19th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $44.00 price objective on shares of Valvoline in a research note on Wednesday, July 29th. Twelve analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Valvoline presently has a consensus rating of “Moderate Buy” and an average target price of $42.88.
Get Our Latest Research Report on VVV
Insiders Place Their Bets
In related news, CAO Jordan M. Denny acquired 1,506 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were acquired at an average price of $33.20 per share, with a total value of $49,999.20. Following the completion of the transaction, the chief accounting officer owned 4,121 shares of the company’s stock, valued at $136,817.20. The trade was a 57.59% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan L. Caldwell sold 2,851 shares of the stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $40.00, for a total value of $114,040.00. Following the completion of the sale, the insider owned 20,918 shares in the company, valued at approximately $836,720. The trade was a 11.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.66% of the company’s stock.
About Valvoline
Valvoline (NYSE: VVV) is a leading global producer and distributor of automotive and industrial lubricants. The company’s portfolio spans engine oils, gear oils, transmission fluids, greases, coolants and driveline products, all designed to help improve vehicle performance and longevity. Valvoline’s products are marketed under the Valvoline®, Valvoline NextGen® and Valvoline™ SynPower® brand names and are formulated to meet the stringent requirements of passenger cars, light trucks, heavy‐duty vehicles and off‐road applications.
In addition to its core lubricant business, Valvoline operates one of North America’s largest quick‐lubricant service networks through Valvoline Instant Oil Change℠ (VIOC).
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