First Hawaiian Bank Reduces Stake in Valvoline Inc. (NYSE:VVV)

First Hawaiian Bank decreased its position in shares of Valvoline Inc. (NYSE:VVV) by 15.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,115 shares of the basic materials company’s stock after selling 6,966 shares during the period. First Hawaiian Bank’s holdings in Valvoline were worth $1,647,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Atria Investments Inc acquired a new stake in Valvoline during the 1st quarter worth approximately $1,048,000. Virtu Financial LLC purchased a new position in Valvoline during the first quarter worth $259,000. New Covenant Trust Company N.A. purchased a new stake in shares of Valvoline in the first quarter valued at $122,000. Vista Investment Partners LLC purchased a new stake in shares of Valvoline in the first quarter valued at $203,000. Finally, Tidal Investments LLC grew its position in shares of Valvoline by 97.6% in the first quarter. Tidal Investments LLC now owns 29,843 shares of the basic materials company’s stock valued at $1,330,000 after purchasing an additional 14,739 shares during the period. Institutional investors and hedge funds own 96.13% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on VVV. Citigroup lifted their target price on Valvoline from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Piper Sandler began coverage on Valvoline in a research report on Wednesday, June 12th. They issued an “overweight” rating and a $49.00 target price for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $48.00 target price on shares of Valvoline in a research report on Friday, June 7th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Valvoline presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.25.

Valvoline Stock Performance

Shares of Valvoline stock traded down $1.78 on Monday, reaching $43.05. 1,877,028 shares of the company were exchanged, compared to its average volume of 1,182,009. Valvoline Inc. has a 1-year low of $29.15 and a 1-year high of $48.26. The company has a debt-to-equity ratio of 15.83, a quick ratio of 0.69 and a current ratio of 0.73. The firm has a market cap of $5.55 billion, a price-to-earnings ratio of 35.58 and a beta of 1.43. The company’s 50-day moving average is $43.20 and its two-hundred day moving average is $42.11.

Valvoline (NYSE:VVV) last issued its earnings results on Wednesday, May 8th. The basic materials company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. Valvoline had a return on equity of 136.59% and a net margin of 11.78%. The business had revenue of $388.70 million during the quarter, compared to analysts’ expectations of $390.75 million. During the same quarter last year, the firm posted $0.23 earnings per share. Valvoline’s revenue was up 12.8% compared to the same quarter last year. As a group, research analysts expect that Valvoline Inc. will post 1.61 earnings per share for the current fiscal year.

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.