Valvoline Inc. (NYSE:VVV) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lowered its position in shares of Valvoline Inc. (NYSE:VVV) by 1.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 124,570 shares of the basic materials company’s stock after selling 1,662 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Valvoline were worth $5,213,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of VVV. Tidal Investments LLC grew its position in Valvoline by 97.6% in the 1st quarter. Tidal Investments LLC now owns 29,843 shares of the basic materials company’s stock worth $1,330,000 after purchasing an additional 14,739 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in Valvoline by 6.4% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,130,920 shares of the basic materials company’s stock worth $48,857,000 after acquiring an additional 68,340 shares during the period. Texas Permanent School Fund Corp grew its stake in shares of Valvoline by 22.8% in the second quarter. Texas Permanent School Fund Corp now owns 139,352 shares of the basic materials company’s stock worth $6,020,000 after purchasing an additional 25,885 shares in the last quarter. Mawer Investment Management Ltd. increased its holdings in shares of Valvoline by 40.5% during the second quarter. Mawer Investment Management Ltd. now owns 424,327 shares of the basic materials company’s stock valued at $18,331,000 after purchasing an additional 122,344 shares during the period. Finally, Seven Eight Capital LP bought a new stake in shares of Valvoline during the second quarter valued at about $1,286,000. Institutional investors and hedge funds own 96.13% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on VVV shares. Royal Bank of Canada decreased their target price on shares of Valvoline from $54.00 to $48.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Robert W. Baird started coverage on shares of Valvoline in a research note on Thursday, August 15th. They set an “outperform” rating and a $48.00 price objective on the stock. Wells Fargo & Company cut their target price on Valvoline from $50.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Stephens started coverage on shares of Valvoline in a report on Tuesday, October 15th. They issued an “overweight” rating and a $49.00 price target for the company. Finally, Citigroup increased their price objective on Valvoline from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $47.75.

Valvoline Stock Up 0.6 %

Shares of Valvoline stock opened at $42.86 on Friday. The stock has a 50-day simple moving average of $41.25 and a 200-day simple moving average of $42.03. Valvoline Inc. has a 52-week low of $33.86 and a 52-week high of $48.26. The firm has a market cap of $5.52 billion, a price-to-earnings ratio of 34.85 and a beta of 1.46. The company has a debt-to-equity ratio of 10.57, a current ratio of 0.73 and a quick ratio of 0.62.

Valvoline declared that its Board of Directors has approved a stock buyback program on Tuesday, July 30th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the basic materials company to reacquire up to 7.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

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.