JPMorgan Chase & Co. increased its holdings in Valvoline Inc. (NYSE:VVV) by 23.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 3,176,653 shares of the basic materials company’s stock after acquiring an additional 600,060 shares during the period. JPMorgan Chase & Co. owned approximately 1.56% of Valvoline worth $75,351,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. City Holding Co. purchased a new position in Valvoline in the second quarter worth approximately $128,000. Pacer Advisors Inc. lifted its stake in Valvoline by 630.1% during the first quarter. Pacer Advisors Inc. now owns 5,571 shares of the basic materials company’s stock worth $137,000 after purchasing an additional 4,808 shares in the last quarter. Legal & General Group Plc lifted its stake in Valvoline by 1,210.5% during the first quarter. Legal & General Group Plc now owns 8,204 shares of the basic materials company’s stock worth $201,000 after purchasing an additional 7,578 shares in the last quarter. M&T Bank Corp acquired a new position in Valvoline during the first quarter worth $203,000. Finally, Oakbrook Investments LLC acquired a new position in Valvoline during the second quarter worth $204,000. Institutional investors own 92.34% of the company’s stock.
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Valvoline Inc. (NYSE:VVV) opened at 22.05 on Monday. The firm’s 50-day moving average price is $22.05 and its 200-day moving average price is $22.87. Valvoline Inc. has a 1-year low of $18.30 and a 1-year high of $24.98. The firm has a market capitalization of $4.47 billion and a PE ratio of 19.31.
Valvoline (NYSE:VVV) last issued its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by $0.01. Valvoline had a negative return on equity of 106.06% and a net margin of 13.00%. The firm had revenue of $534 million during the quarter, compared to analyst estimates of $530.57 million. The company’s quarterly revenue was up 7.0% on a year-over-year basis. On average, equities research analysts predict that Valvoline Inc. will post $1.37 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a $0.049 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.20 dividend on an annualized basis and a yield of 0.89%. Valvoline’s dividend payout ratio is currently 15.50%.
VVV has been the topic of a number of research reports. Zacks Investment Research upgraded Valvoline from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Wednesday, June 7th. Deutsche Bank AG restated a “hold” rating and set a $23.00 price target (up from $22.00) on shares of Valvoline in a research note on Saturday, June 3rd. Seaport Global Securities upgraded Valvoline from a “neutral” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Wednesday, June 7th. Finally, J P Morgan Chase & Co restated a “neutral” rating and set a $22.00 price target (up from $20.00) on shares of Valvoline in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $25.83.
Valvoline Inc (Valvoline) is engaged in the production and distribution of automotive, commercial and industrial lubricants, and automotive chemicals. The Company operates through three segments: Core North America, Quick Lubes and International. The Core North America segment sells Valvoline, and other branded and private label products in the United States and Canada to both consumers performing their own automotive maintenance, referred to as Do-It-Yourself (DIY) consumers, as well as, to installer customers using Valvoline products to service vehicles owned by Do-It-For-Me (DIFM) consumers.
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