Valvoline Inc. (NYSE:VVV) Shares Sold by Bank of New York Mellon Corp

Posted by Defense World Staff on Mar 11th, 2023

Bank of New York Mellon Corp trimmed its position in Valvoline Inc. (NYSE:VVV – Get Rating) by 2.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,157,096 shares of the basic materials company’s stock after selling 55,571 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.22% of Valvoline worth $54,660,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ronald Blue Trust Inc. acquired a new stake in shares of Valvoline in the 2nd quarter valued at $28,000. Quadrant Capital Group LLC raised its holdings in shares of Valvoline by 108.9% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,055 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 550 shares in the last quarter. Wipfli Financial Advisors LLC acquired a new stake in shares of Valvoline in the 3rd quarter valued at $43,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Valvoline by 138.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,920 shares of the basic materials company’s stock valued at $55,000 after purchasing an additional 1,114 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Valvoline by 147.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,100 shares of the basic materials company’s stock valued at $66,000 after purchasing an additional 1,250 shares in the last quarter. 90.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Valvoline news, CMO Heidi J. Matheys sold 3,000 shares of the firm’s stock in a transaction on Friday, January 27th. The shares were sold at an average price of $36.00, for a total transaction of $108,000.00. Following the transaction, the chief marketing officer now directly owns 37,159 shares of the company’s stock, valued at approximately $1,337,724. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.99% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Valvoline from $36.00 to $41.00 and gave the company an “overweight” rating in a report on Wednesday, February 8th. StockNews.com downgraded shares of Valvoline from a “hold” rating to a “sell” rating in a research report on Wednesday, February 8th. Royal Bank of Canada increased their target price on shares of Valvoline from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Citigroup downgraded shares of Valvoline from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research report on Friday, February 24th.

Valvoline Trading Down 2.0 %

Shares of Valvoline stock opened at $34.07 on Friday. Valvoline Inc. has a 1 year low of $24.40 and a 1 year high of $37.33. The company has a debt-to-equity ratio of 5.72, a quick ratio of 1.81 and a current ratio of 1.84. The company has a market capitalization of $5.86 billion, a P/E ratio of 14.56 and a beta of 1.38. The company’s fifty day moving average is $35.03 and its two-hundred day moving average is $31.51.

Valvoline (NYSE:VVV – Get Rating) last issued its quarterly earnings data on Tuesday, February 7th. The basic materials company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.06). Valvoline had a return on equity of 126.78% and a net margin of 16.71%. The business had revenue of $332.80 million for the quarter, compared to analysts’ expectations of $334.31 million. During the same period in the previous year, the business posted $0.48 earnings per share. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. Analysts forecast that Valvoline Inc. will post 1.05 earnings per share for the current year.

Valvoline Company Profile

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Valvoline, Inc engages in the production, marketing, and supply of engine and automotive maintenance products and services. It operates through the Retail Services segment. The Retail Services segment services the passenger car and light truck quick lube market in the US and Canada with preventive maintenance services done through company operated and independent franchise care stores.