Newport Trust Co lifted its position in shares of Valvoline Inc (NYSE:VVV) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,330,092 shares of the basic materials company’s stock after acquiring an additional 38,140 shares during the quarter. Valvoline makes up about 0.2% of Newport Trust Co’s investment portfolio, making the stock its 29th largest position. Newport Trust Co’s holdings in Valvoline were worth $64,437,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new stake in Valvoline in the fourth quarter valued at about $51,000. First Hawaiian Bank bought a new stake in Valvoline in the third quarter valued at about $113,000. Oppenheimer Asset Management Inc. bought a new stake in Valvoline in the fourth quarter valued at about $122,000. Quantamental Technologies LLC bought a new stake in Valvoline in the fourth quarter valued at about $162,000. Finally, Dubuque Bank & Trust Co. bought a new stake in Valvoline in the fourth quarter valued at about $166,000. Institutional investors and hedge funds own 98.45% of the company’s stock.
Shares of Valvoline stock opened at $18.24 on Friday. Valvoline Inc has a 1 year low of $17.49 and a 1 year high of $24.18. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of 14.14, a price-to-earnings-growth ratio of 1.27 and a beta of 1.08.
Valvoline (NYSE:VVV) last announced its quarterly earnings results on Wednesday, February 6th. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.04). Valvoline had a negative return on equity of 80.99% and a net margin of 9.97%. The business had revenue of $557.00 million during the quarter, compared to the consensus estimate of $584.75 million. During the same quarter last year, the company earned $0.29 earnings per share. The firm’s revenue was up 2.2% compared to the same quarter last year. On average, sell-side analysts predict that Valvoline Inc will post 1.38 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be issued a $0.106 dividend. The ex-dividend date of this dividend is Thursday, February 28th. This represents a $0.42 annualized dividend and a dividend yield of 2.32%. Valvoline’s dividend payout ratio (DPR) is currently 32.56%.
A number of equities research analysts recently commented on VVV shares. Zacks Investment Research downgraded Valvoline from a “buy” rating to a “hold” rating in a report on Saturday, October 13th. Bank of America downgraded Valvoline from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $24.00 to $20.00 in a report on Tuesday, November 6th. Wolfe Research downgraded Valvoline from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 7th. Citigroup set a $22.00 price objective on Valvoline and gave the company a “buy” rating in a report on Thursday, November 8th. Finally, ValuEngine upgraded Valvoline from a “sell” rating to a “hold” rating in a report on Monday, November 26th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $23.75.
In other Valvoline news, SVP Craig A. Moughler sold 2,551 shares of the stock in a transaction dated Friday, January 18th. The stock was sold at an average price of $21.88, for a total value of $55,815.88. Following the completion of the sale, the senior vice president now directly owns 27,221 shares in the company, valued at $595,595.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anthony R. Puckett sold 2,588 shares of the stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $20.32, for a total value of $52,588.16. Following the completion of the sale, the insider now owns 3,298 shares of the company’s stock, valued at $67,015.36. The disclosure for this sale can be found here. Insiders sold 9,821 shares of company stock valued at $206,284 over the last 90 days. Corporate insiders own 0.49% of the company’s stock.
Valvoline Inc manufactures and markets engine and automotive maintenance products and services. It operates through three segments: Core North America, Quick Lubes, and International. The company offers lubricants for passenger car, light duty, and heavy duty; antifreeze/coolants for original equipment manufacturers; functional and maintenance chemicals, such as brake fluids and power steering fluids, as well as specialty coatings for automotive and industrial applications comprising rust prevention and sound absorption; and oil and air filters for light-duty vehicles.
Featured Story: Cost of Debt
Want to see what other hedge funds are holding VVV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Valvoline Inc (NYSE:VVV).
Receive News & Ratings for Valvoline Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valvoline and related companies with MarketBeat.com's FREE daily email newsletter.