Commerce Bank Has $51.56 Million Position in Valvoline Inc. (NYSE:VVV)

Commerce Bank increased its position in shares of Valvoline Inc. (NYSE:VVV) by 1.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,232,013 shares of the basic materials company’s stock after purchasing an additional 21,369 shares during the period. Commerce Bank’s holdings in Valvoline were worth $51,560,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Prospera Private Wealth LLC acquired a new position in Valvoline in the 3rd quarter valued at $41,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Valvoline in the 3rd quarter valued at $4,628,000. Meeder Asset Management Inc. raised its holdings in Valvoline by 76.0% in the 3rd quarter. Meeder Asset Management Inc. now owns 28,162 shares of the basic materials company’s stock valued at $1,179,000 after acquiring an additional 12,164 shares in the last quarter. Mawer Investment Management Ltd. raised its holdings in Valvoline by 3.2% in the 3rd quarter. Mawer Investment Management Ltd. now owns 437,989 shares of the basic materials company’s stock valued at $18,330,000 after acquiring an additional 13,662 shares in the last quarter. Finally, Quest Partners LLC raised its holdings in Valvoline by 110.6% in the 3rd quarter. Quest Partners LLC now owns 41,711 shares of the basic materials company’s stock valued at $1,746,000 after acquiring an additional 21,907 shares in the last quarter. 96.13% of the stock is owned by institutional investors and hedge funds.

Valvoline Stock Down 8.7 %

VVV stock opened at $38.66 on Wednesday. The stock’s 50 day simple moving average is $41.44 and its 200 day simple moving average is $42.03. Valvoline Inc. has a fifty-two week low of $33.86 and a fifty-two week high of $48.26. The company has a debt-to-equity ratio of 10.57, a quick ratio of 0.62 and a current ratio of 0.73. The company has a market cap of $4.98 billion, a P/E ratio of 31.43 and a beta of 1.46.

Valvoline declared that its board has authorized a share repurchase program on Tuesday, July 30th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the basic materials company to repurchase up to 7.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Stephens assumed coverage on Valvoline in a report on Tuesday, October 15th. They set an “overweight” rating and a $49.00 price target for the company. Wells Fargo & Company lowered their price target on Valvoline from $50.00 to $46.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Baird R W upgraded Valvoline to a “strong-buy” rating in a research report on Thursday, August 15th. Robert W. Baird began coverage on Valvoline in a research report on Thursday, August 15th. They set an “outperform” rating and a $48.00 price objective on the stock. Finally, Royal Bank of Canada reduced their price objective on Valvoline from $54.00 to $48.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $47.75.

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.