Retirement Systems of Alabama Increases Stock Position in Valvoline Inc. (NYSE:VVV)

Posted by Defense World Staff on May 2nd, 2023

Retirement Systems of Alabama grew its stake in shares of Valvoline Inc. (NYSE:VVV – Get Rating) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 233,316 shares of the basic materials company’s stock after acquiring an additional 1,566 shares during the quarter. Retirement Systems of Alabama owned about 0.13% of Valvoline worth $7,618,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in VVV. Ellevest Inc. boosted its holdings in shares of Valvoline by 109.6% during the 4th quarter. Ellevest Inc. now owns 918 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 480 shares during the last quarter. Ronald Blue Trust Inc. boosted its holdings in shares of Valvoline by 63.4% during the 4th quarter. Ronald Blue Trust Inc. now owns 1,616 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 627 shares during the last quarter. Wipfli Financial Advisors LLC purchased a new stake in shares of Valvoline during the 3rd quarter valued at about $43,000. DekaBank Deutsche Girozentrale bought a new position in shares of Valvoline in the 4th quarter worth approximately $65,000. Finally, Geneos Wealth Management Inc. lifted its stake 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 worth $66,000 after purchasing an additional 1,250 shares during the period. Hedge funds and other institutional investors own 90.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on VVV. StockNews.com began coverage on shares of Valvoline in a research note on Thursday, March 16th. They issued a “sell” rating on the stock. Royal Bank of Canada increased their price objective on shares of Valvoline from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 8th. JPMorgan Chase & Co. increased their price objective on shares of Valvoline from $36.00 to $41.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 8th. Finally, Citigroup cut shares of Valvoline from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research note on Friday, February 24th.

Valvoline Price Performance

NYSE VVV opened at $35.02 on Tuesday. Valvoline Inc. has a 12 month low of $24.40 and a 12 month high of $37.33. The stock has a market cap of $6.02 billion, a price-to-earnings ratio of 14.97 and a beta of 1.37. The company’s 50 day moving average is $34.53 and its two-hundred day moving average is $33.27. The company has a current ratio of 1.84, a quick ratio of 1.81 and a debt-to-equity ratio of 5.72.

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

Insider Activity

In other news, SVP Heidi J. Matheys sold 5,823 shares of Valvoline stock in a transaction that occurred on Tuesday, April 4th. The shares were sold at an average price of $35.25, for a total transaction of $205,260.75. Following the sale, the senior vice president now owns 37,159 shares in the company, valued at $1,309,854.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.99% of the company’s stock.

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.