Valvoline Inc. (NYSE:VVV) Shares Sold by Royce & Associates LP

Royce & Associates LP lowered its holdings in Valvoline Inc. (NYSE:VVV) by 2.8% in the third quarter, Holdings Channel.com reports. The fund owned 1,251,182 shares of the basic materials company’s stock after selling 36,539 shares during the quarter. Royce & Associates LP’s holdings in Valvoline were worth $52,362,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its stake in shares of Valvoline by 6.7% in the first quarter. Russell Investments Group Ltd. now owns 69,300 shares of the basic materials company’s stock valued at $3,089,000 after purchasing an additional 4,326 shares during the period. US Bancorp DE boosted its stake in shares of Valvoline by 13.2% during the 1st quarter. US Bancorp DE now owns 41,132 shares of the basic materials company’s stock worth $1,833,000 after acquiring an additional 4,800 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Valvoline by 4.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 196,353 shares of the basic materials company’s stock worth $8,751,000 after acquiring an additional 8,076 shares in the last quarter. SageView Advisory Group LLC acquired a new stake in shares of Valvoline in the 1st quarter worth approximately $238,000. Finally, Edgestream Partners L.P. purchased a new position in Valvoline in the 1st quarter valued at approximately $1,814,000. 96.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VVV has been the topic of several research reports. Citigroup upped 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. Robert W. Baird began coverage on shares of Valvoline in a research note on Thursday, August 15th. They issued an “outperform” rating and a $48.00 price objective on the stock. Stephens initiated coverage on shares of Valvoline in a research report on Tuesday, October 15th. They set an “overweight” rating and a $49.00 target price for the company. Wells Fargo & Company lowered their price target on shares of Valvoline from $50.00 to $46.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Finally, Baird R W raised shares of Valvoline to a “strong-buy” rating in a research note on Thursday, August 15th. Two investment 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.75.

Valvoline Stock Up 0.6 %

VVV stock opened at $42.86 on Friday. The company has a 50 day moving average price of $41.25 and a two-hundred day moving average price of $42.03. 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 stock has a market capitalization of $5.52 billion, a P/E ratio of 34.85 and a beta of 1.46. Valvoline Inc. has a one year low of $33.86 and a one year high of $48.26.

Valvoline announced that its Board of Directors has approved a share buyback plan on Tuesday, July 30th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the basic materials company to buy up to 7.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

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.