Amalgamated Bank reduced its holdings in Valvoline Inc. (NYSE:VVV – Get Rating) by 3.9% during the 1st quarter, Holdings Channel reports. The institutional investor owned 124,761 shares of the basic materials company’s stock after selling 5,009 shares during the quarter. Amalgamated Bank’s holdings in Valvoline were worth $3,937,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. IronBridge Private Wealth LLC acquired a new stake in Valvoline in the 4th quarter valued at $44,000. Geneos Wealth Management Inc. increased its stake in Valvoline by 147.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,100 shares of the basic materials company’s stock valued at $66,000 after buying an additional 1,250 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in Valvoline in the 1st quarter valued at $81,000. Central Bank & Trust Co. acquired a new stake in Valvoline in the 1st quarter valued at $89,000. Finally, Covestor Ltd increased its stake in shares of Valvoline by 63.9% during the 1st quarter. Covestor Ltd now owns 3,078 shares of the basic materials company’s stock worth $97,000 after purchasing an additional 1,200 shares during the last quarter. 90.68% of the stock is currently owned by institutional investors and hedge funds.
Valvoline Stock Performance
Shares of VVV stock opened at $27.57 on Thursday. The company has a market capitalization of $4.88 billion, a price-to-earnings ratio of 11.49 and a beta of 1.34. The company has a debt-to-equity ratio of 7.25, a quick ratio of 1.16 and a current ratio of 1.64. The company has a 50-day simple moving average of $29.70 and a 200 day simple moving average of $30.28. Valvoline Inc. has a 52 week low of $26.69 and a 52 week high of $37.97.
Valvoline Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date was Tuesday, August 30th. Valvoline’s dividend payout ratio is currently 20.83%.
Analyst Upgrades and Downgrades
VVV has been the topic of several recent analyst reports. Jefferies Financial Group lowered their price objective on shares of Valvoline from $44.00 to $40.00 in a research note on Thursday, June 16th. StockNews.com upgraded shares of Valvoline from a “hold” rating to a “buy” rating in a research note on Thursday, September 1st. Finally, Citigroup lowered their price objective on shares of Valvoline from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, August 9th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Valvoline has an average rating of “Buy” and a consensus price target of $39.20.
Insider Buying and Selling at Valvoline
In other Valvoline news, insider Julie Marie O’daniel sold 6,500 shares of the business’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $29.91, for a total value of $194,415.00. Following the completion of the sale, the insider now owns 13,760 shares of the company’s stock, valued at approximately $411,561.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.94% of the company’s stock.
Valvoline Inc manufactures, markets, and supplies, engine and automotive maintenance products and services. It operates through two segments, Retail Services and Global Products. 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; and oil and air filters for light-duty vehicles.
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