Principal Financial Group Inc. decreased its stake in Valvoline Inc. (NYSE:VVV) by 0.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 548,670 shares of the basic materials company’s stock after selling 1,699 shares during the period. Principal Financial Group Inc. owned about 0.30% of Valvoline worth $12,697,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Foyston Gordon & Payne Inc bought a new position in shares of Valvoline in the 4th quarter worth $2,627,000. Russell Investments Group Ltd. increased its holdings in shares of Valvoline by 40.6% in the 4th quarter. Russell Investments Group Ltd. now owns 3,087,068 shares of the basic materials company’s stock worth $71,435,000 after buying an additional 891,814 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Valvoline by 0.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 122,169 shares of the basic materials company’s stock worth $2,827,000 after buying an additional 800 shares during the last quarter. KBC Group NV increased its holdings in shares of Valvoline by 39.3% in the 4th quarter. KBC Group NV now owns 335,985 shares of the basic materials company’s stock worth $7,775,000 after buying an additional 94,704 shares during the last quarter. Finally, Mackenzie Financial Corp purchased a new stake in shares of Valvoline in the 4th quarter valued at $9,145,000. 92.26% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:VVV opened at $26.59 on Wednesday. The company has a 50-day moving average price of $25.95 and a 200-day moving average price of $23.34. Valvoline Inc. has a 12 month low of $12.90 and a 12 month high of $27.01. The stock has a market cap of $4.82 billion, a price-to-earnings ratio of 22.53, a P/E/G ratio of 1.87 and a beta of 1.44.
Valvoline (NYSE:VVV) last posted its earnings results on Wednesday, February 3rd. The basic materials company reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.05. Valvoline had a net margin of 9.53% and a negative return on equity of 121.96%. The firm had revenue of $653.00 million during the quarter, compared to analysts’ expectations of $629.84 million. During the same period last year, the company posted $0.35 EPS. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts expect that Valvoline Inc. will post 1.39 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, March 15th. Stockholders of record on Friday, February 26th were given a $0.125 dividend. The ex-dividend date of this dividend was Thursday, February 25th. This represents a $0.50 annualized dividend and a dividend yield of 1.88%. Valvoline’s dividend payout ratio is 35.97%.
A number of brokerages have recently issued reports on VVV. Seaport Global Securities cut shares of Valvoline from a “buy” rating to a “neutral” rating in a research note on Monday, January 11th. Monness Crespi & Hardt upped their price objective on shares of Valvoline from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, February 4th. Citigroup upped their price objective on shares of Valvoline from $28.00 to $32.00 in a research note on Monday, March 22nd. Morgan Stanley increased their price target on shares of Valvoline from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Thursday, February 4th. Finally, Zacks Investment Research cut shares of Valvoline from a “hold” rating to a “sell” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $26.63.
Valvoline Company Profile
Valvoline Inc manufactures, markets, and supplies, engine and automotive maintenance products and services. It operates through three segments: Quick Lubes, Core North America, 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.
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