Valvoline Inc. (NYSE:VVV) Stock Position Reduced by Fulton Bank N.A.

Fulton Bank N.A. decreased its stake in Valvoline Inc. (NYSE:VVV) by 6.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,111 shares of the basic materials company’s stock after selling 645 shares during the quarter. Fulton Bank N.A.’s holdings in Valvoline were worth $394,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. grew its stake in shares of Valvoline by 6.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 7,045 shares of the basic materials company’s stock valued at $265,000 after buying an additional 403 shares in the last quarter. Fifth Third Bancorp raised its holdings in Valvoline by 20.3% during the fourth quarter. Fifth Third Bancorp now owns 1,876 shares of the basic materials company’s stock valued at $70,000 after buying an additional 316 shares in the last quarter. Trust Point Inc. bought a new position in Valvoline during the fourth quarter valued at about $229,000. Park Place Capital Corp acquired a new stake in shares of Valvoline in the fourth quarter worth about $26,000. Finally, Allworth Financial LP boosted its stake in shares of Valvoline by 10.0% during the 4th quarter. Allworth Financial LP now owns 4,889 shares of the basic materials company’s stock worth $184,000 after acquiring an additional 444 shares in the last quarter. Hedge funds and other institutional investors own 96.13% of the company’s stock.

Analysts Set New Price Targets

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

Valvoline Price Performance

Shares of Valvoline stock traded down $0.03 during trading on Tuesday, hitting $43.02. 2,241,514 shares of the company’s stock traded hands, compared to its average volume of 1,189,072. Valvoline Inc. has a twelve month low of $29.15 and a twelve month high of $48.26. The company has a market cap of $5.54 billion, a PE ratio of 34.61 and a beta of 1.43. The firm’s fifty day moving average price is $43.25 and its 200 day moving average price is $42.16. The company has a debt-to-equity ratio of 15.83, a current ratio of 0.73 and a quick ratio of 0.69.

Valvoline (NYSE:VVV) last released its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. The firm had revenue of $388.70 million during the quarter, compared to analyst estimates of $390.75 million. Valvoline had a return on equity of 136.59% and a net margin of 11.78%. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.23 earnings per share. Analysts forecast that Valvoline Inc. will post 1.61 earnings per share for the current year.

Valvoline Company 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.