Valvoline $VVV Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC lessened its position in shares of Valvoline (NYSE:VVV) by 16.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 687,026 shares of the basic materials company’s stock after selling 134,213 shares during the period. William Blair Investment Management LLC owned approximately 0.54% of Valvoline worth $20,707,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new position in Valvoline in the 2nd quarter valued at $501,851,000. Hawk Ridge Capital Management LP increased its holdings in shares of Valvoline by 15.0% in the first quarter. Hawk Ridge Capital Management LP now owns 3,147,810 shares of the basic materials company’s stock worth $106,018,000 after purchasing an additional 409,565 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Valvoline by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,973,851 shares of the basic materials company’s stock worth $100,156,000 after purchasing an additional 15,462 shares during the period. Junto Capital Management LP bought a new position in shares of Valvoline in the second quarter worth $81,689,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Valvoline in the second quarter worth $52,960,000. 96.13% of the stock is currently owned by hedge funds and other institutional investors.

Valvoline Price Performance

VVV traded down $0.23 during midday trading on Friday, hitting $34.60. The stock had a trading volume of 2,530,146 shares, compared to its average volume of 2,623,728. Valvoline has a 1 year low of $26.21 and a 1 year high of $41.08. The company has a debt-to-equity ratio of 3.77, a quick ratio of 0.58 and a current ratio of 0.70. The business has a fifty day moving average of $31.22 and a 200 day moving average of $34.48. The company has a market cap of $4.41 billion, a P/E ratio of 43.25 and a beta of 1.01.

Valvoline announced that its board has authorized a stock repurchase program on Tuesday, September 29th that allows the company to repurchase $175 million in shares. This repurchase authorization allows the basic materials company to repurchase up to 4.8% of its shares through open market purchases. Share repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Valvoline in a research note on Tuesday, November 3rd. Stephens boosted their target price on Valvoline from $44.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. Royal Bank Of Canada decreased their target price on Valvoline from $49.00 to $46.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 21st. Wells Fargo & Company decreased their target price on Valvoline from $45.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday, October 23rd. Finally, TD Cowen lowered their price target on Valvoline from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, October 14th. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.17.

Insider Activity

In related news, insider Julie O’Daniel sold 3,700 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $33.81, for a total transaction of $125,097.00. Following the transaction, the insider owned 14,279 shares of the company’s stock, valued at approximately $482,772.99. This trade represents a 20.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.66% of the company’s stock.

Valvoline Profile

Valvoline Inc. is an automotive services company focused on preventive vehicle maintenance. It operates and franchises service centers under brands including Valvoline Instant Oil Change and Great Canadian Oil Change, primarily in the United States and Canada. Its services include oil changes and other routine maintenance, such as tire rotations, battery replacement, fluid exchanges, air-conditioning service and replacement of wiper blades and filters. The company serves both individual motorists and commercial customers through its service-center network.