Congress Asset Management Co. Has $153.03 Million Stake in Valvoline Inc. (NYSE:VVV)

Congress Asset Management Co. raised its position in Valvoline Inc. (NYSE:VVV) by 2.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,656,672 shares of the basic materials company’s stock after purchasing an additional 100,305 shares during the period. Valvoline makes up 1.0% of Congress Asset Management Co.’s investment portfolio, making the stock its 18th biggest holding. Congress Asset Management Co.’s holdings in Valvoline were worth $153,032,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in Valvoline by 3.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,720,748 shares of the basic materials company’s stock valued at $117,534,000 after buying an additional 94,673 shares during the last quarter. Sculptor Capital LP boosted its holdings in Valvoline by 187.6% during the second quarter. Sculptor Capital LP now owns 1,879,500 shares of the basic materials company’s stock worth $81,194,000 after purchasing an additional 1,226,000 shares during the last quarter. Commerce Bank lifted its position in Valvoline by 0.8% during the 1st quarter. Commerce Bank now owns 1,197,378 shares of the basic materials company’s stock worth $53,367,000 after buying an additional 10,086 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its position in shares of Valvoline by 6.4% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,130,920 shares of the basic materials company’s stock valued at $48,857,000 after acquiring an additional 68,340 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its position in shares of Valvoline by 30.1% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 828,403 shares of the basic materials company’s stock worth $35,787,000 after purchasing an additional 191,504 shares during the last quarter. 96.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Citigroup increased their price target on shares of Valvoline from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Stephens initiated coverage on Valvoline in a report on Tuesday, October 15th. They set an “overweight” rating and a $49.00 target price on the stock. Baird R W raised shares of Valvoline to a “strong-buy” rating in a research report on Thursday, August 15th. Robert W. Baird initiated coverage on shares of Valvoline in a research note on Thursday, August 15th. They set an “outperform” rating and a $48.00 target price for the company. Finally, Royal Bank of Canada decreased their price target on shares of Valvoline from $54.00 to $48.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $47.75.

Valvoline Price Performance

NYSE VVV traded up $0.24 during midday trading on Thursday, hitting $40.69. The company had a trading volume of 37,652 shares, compared to its average volume of 1,181,658. The firm has a 50-day moving average price of $41.20 and a 200-day moving average price of $42.02. The company has a market capitalization of $5.24 billion, a PE ratio of 32.10 and a beta of 1.45. The company has a current ratio of 0.73, a quick ratio of 0.62 and a debt-to-equity ratio of 10.57. Valvoline Inc. has a twelve month low of $29.15 and a twelve month high of $48.26.

Valvoline (NYSE:VVV) last posted its quarterly earnings results on Wednesday, August 7th. The basic materials company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). Valvoline had a net margin of 10.45% and a return on equity of 182.88%. The company had revenue of $421.00 million during the quarter, compared to analyst estimates of $425.17 million. During the same period last year, the firm earned $0.43 EPS. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, analysts anticipate that Valvoline Inc. will post 1.53 earnings per share for the current fiscal year.

Valvoline declared that its Board of Directors has approved a stock buyback program on Tuesday, July 30th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to repurchase up to 7.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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.